As anyone smart enough to see, the solution is in hidden in this message. However, I see no reason to point it out for free.
stops not hidden at IB?
- Thread starter otayah
- Start date
Ya think?
'Bots are also used to enter large orders away from the inside spread on the opposite side from where they actually want to fill. So at a minimum, "someone" out there may well be interpreting you as the enemy and gunning for your first born.
It's trench warfare out there, just like it's supposed to be.
You're also fighting your own broker, right, because the in-house algos are next in the pecking order if your trade can't be immediately crossed "internally".
yeah, but the question was are the stops hidden? well are they or are they not? I would never enter a stop unless I was sure.Quote from Random.Capital:
Ya think?
'Bots are also used to enter large orders away from the inside spread on the opposite side from where they actually want to fill. So at a minimum, "someone" out there may well be interpreting you as the enemy and gunning for your first born.
It's trench warfare out there, just like it's supposed to be.
You're also fighting your own broker, right, because the in-house algos are next in the pecking order if your trade can't be immediately crossed "internally".
I'm convinced at least in forex that either they are hidden or nobody thinks my small size is worth gunning for.
I don't know. In forex 100k is just peanuts. Is that a big order in stocks?
Well, if you use currency futures, then you stops are hidden. Also, there are probably some reliable forex brokers where your stops are hidden. If you go with a bucket shop which has already admitted to trading against its own clients, your stops may not be hidden.
Another interesting thing to check out are the SEC 606 disclosures. I'd rather be routed to an ECN rather than a market maker like Citadel who is doing god-knows-what with their retail order flow.
http://institutions.interactivebrokers.com/download/2Q_2011_IB_ORDER_ROUTING_REPORT.pdf
https://www.thinkorswim.com/tos/client/complianceWorld/orderRoutingReports/SEC606AMTD_Q2_2011.pdf
Another interesting article:
http://www.zerohedge.com/article/citadel-set-control-975-e-trades-order-flow
>>>
Is this merely a way for Citadel's other divisions to have advance notice on the intent of a significant number of daytraders? Citadel claims no:
Citadel says itâs wrong then for anyone to accuse the hedge fundâs proprietary high-frequency traders of taking unfair advantage of E*Trade customers or those of any other broker that routes trades to Citadel Derivatives Group.
>>>
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1. I will quote again: "Just to make it 100% clear. IB doesn't sell your stops (I never heard of any reputable firm that did this) nor shows or advertises them to others"
My comment is 100% accurate. We have no control over what exchanges do with orders or how they are flagged. You should back up your statement with evidence. You also are assuming the orders (and these are stock orders) are native stops. Given I don't have all the facts, i can't speculate on that but even so, stop hunting on small size orders - i just don't buy it. You've got to be talking pretty illiquid stocks which can be pushed around for starters.
2. Sure I tow the company line but that doesn't mean I would be foolish enough to post on a public forum inaccurate info. Nevertheless, you won't go far pulling the old school line with me unless you got more than 25 years experience on a trading desk. However, I do admit I'm no longer an expert on the US markets but can speak with authority in regards to the major Asian exchanges where native stops generally are not supported.
Why do you give this information away for free? If someone is stupid enough to NOT use an advanced front end software like NT while managing a $ 1 million account maybe they deserve to lose all of their money.
Anyone who switches to a good front end software instead of the software provided for free from their brokerage will see an increase in performance.
Anyone who switches to a good front end software instead of the software provided for free from their brokerage will see an increase in performance.
The first and last time I used a stop through IB was a couple of months ago.
Took a fairly small short position eod on a relatively thinly traded stock.
I sleep through most of the trading day (I live in Australia), so I set up a conditional order to stop me out at about 10% above my short price.
Next day the stock opened at around the previous day's close, it then moved up 10% in the first hour, just enough to take out my stop, and then immediately collapsed 20% to close about 10% down for the day.
Maybe I was just unlucky, but frankly I'm just getting more and more cynical about everything to do with the markets nowadays.
Took a fairly small short position eod on a relatively thinly traded stock.
I sleep through most of the trading day (I live in Australia), so I set up a conditional order to stop me out at about 10% above my short price.
Next day the stock opened at around the previous day's close, it then moved up 10% in the first hour, just enough to take out my stop, and then immediately collapsed 20% to close about 10% down for the day.
Maybe I was just unlucky, but frankly I'm just getting more and more cynical about everything to do with the markets nowadays.
