TWS submitting multiple orders for the same trade

B

Bodrey

I just recently learned how to attach a Bracket Order ('Profit Taker') to vertical spreads. However, in the process of doing so it has an unintended consequence. I think it may have something to do with the way I'm submitting the orders. I'm hoping someone here can explain what I'm doing wrong and how the proper way to attach Bracket Orders should be done. This is how I do it:

- I create the vertical spread (i.e. Put Credit Spread) in the Options Chain window. From the 'Strategy Builder' section of the OC window I click on the "advanced" button and click 'Save'
- This populates the order to the Activity window. From there, I highlight the order which then appears in the Order Entry window
- From the OE window I click on the "advanced" button, and under Profit Taker I enter a debit value to Sell-To-Close the order, change the Time-in-Force to GTC and click Submit.
- The revised order (with the attached Bracket Order) now appears in the Activity Window above the original order entry I saved earlier
- I click on the red 'x' next to the Submit button for the original order. I then get an audible notification that the order has been canceled which is what's supposed to happen

For some reason when I do it this way TWS seems to think that I still want to submit 2 orders for the same underlying. In other words, even though I've canceled the original order it seems to "remember" it and attempts to submit it to market anyway.

However, I don't know any other way to revise the order (attach a Bracket Order) prior to submitting it other than the way I've been doing it. It can't be done "on the fly" from the Strategy Builder section of the Options Chain window.

What can I do to attach a Bracket Order without TWS thinking that I'm submitting more than one order for the same underlying?
 
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Related to that, sometimes, even though it was my fault;
if i did not get pretty much instant confirmation, I hit it again. But many times I would get a double order, ETFs, not options .:caution::caution: So have to be aware of that
 
Bodrey said:
Oh... so, when it comes to ETFs this is a known problem?
More...
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IT happened fairly infrequently.
I think it maybe related like some times when I dont see Windows open right , so i start multiple clicks + every now it opens a lot more windows than i want to.:D:D
I've had SCHW also give me quite few ''to late for cancel, order change'' but that'$ with stuff like SPXL or SPXS...... , fine+ good fills . I dont like to cancel anyway.
Murray t turtle ;not a rabbit.
 
I chatted with an IB rep today. He said it is not a bug and that I was doing it wrong. For those inquiring minds that want to know the proper way read on...

These are the steps:

1) Create the credit spread in the Options Chain

2) Click on advanced|'Save' button at the bottom of the Options Chain window

This will submit the Option to the Activity Monitor's "Orders" tab as a pending order

3) Right-click on the pending order and choose Attach|'Target Order (Profit-taker)'-> Limit

This will submit the pending order to the Order Entry window and the 'Sell' radio button is selected automatically

4) Enter your debit limit price in order to Sell-to-Close the trade and choose your Time-in-Force ('DAY' or 'GTC') then click the 'Submit' button

The pending order (now including the attached Profit Taker) is reflected in the Activity Monitor

5) Click on the blue 'Submit' button next to the pending order in the Activity Monitor

The order is submitted to market to be filled. Voila - you're done!

https://ibb.co/zSyRk5x
https://ibb.co/02ZZtVh
 
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