Premarket Trading-Order Cancelling?

[antares66]

Hello,
today i traded the first time premarket and got a little bit confused by IB´s order handling. I sent a limit order and received the question if i want to use IB´algos. I agreed. My order was pending. I decided to cancel my order but nothing happened.
The column with the pending order had a pink color. After some minutes i received the message that my order was filled! This led nearly to a bad trade because the stock dropped a lot but i could turn it around with a small win. But this order handling could have ended in a disaster. Did i misunderstand something. Would appriciate your help.

 

[HobbyTrading]

As far as I know are there certain stock exchanges which don't allow order cancellations during a short period before market opening. It could be that you ended up in such a situation.

 

[antares66]

As far as I know are there certain stock exchanges which don't allow order cancellations during a short period before market opening. It could be that you ended up in such a situation.

Thanks for your reply. I will ask IB for more information on this topic.

 

[eastern_warrior]

Thanks for your reply. I will ask IB for more information on this topic.

Like the poster above, odds are you tried to cancel within the 2 minute period before 9:30
On-Open (OO) Orders: Executable only during the cross. Market-on-open (MOO) must be received prior to 9:28 a.m. Limit-on-open (LOO) received after 9:28 a.m. are treated as Imbalance-Only orders. System Hours Orders: Are posted and available for execution immediately and may participate in the Opening Cross.
https://www.nasdaqtrader.com/conten...adingProducts/crosses/openclosequickguide.pdf
The Nasdaq Opening and Closing Crosses - Nasdaq Trader
https://www.nasdaqtrader.com/conten...adingProducts/crosses/openclosequickguide.pdf