Understanding IB Time and Sales

T

trader60611

I am looking at the Interactive Brokers Time and Sales stream for the June emini S&P at 09:12:01 Chicago Time today 6/2/2011. I was long the emini and had a MIT sell at 1316.50. When the market traded at 1316.50 I was not filled. The IB representative explained to me that although there were many trades in the "Last" column at 1316.50 I was not filled because there were no bids. My question is a)How do trades occur with no bids at that price and b) Is there a better method to guarantee a timely fill when the "last" price hits my trigger price? In this case the bids are 2 ticks below the "last" for quite a few trades. I have always been filled promptly on this kind of order before, assuming I take a tick or so slippage, so I am confused about what happened today. Any traders or IB folks who could clarify?
 
Quote from trader60611:

I am looking at the Interactive Brokers Time and Sales stream for the June emini S&P at 09:12:01 Chicago Time today 6/2/2011. I was long the emini and had a MIT sell at 1316.50. When the market traded at 1316.50 I was not filled. The IB representative explained to me that although there were many trades in the "Last" column at 1316.50 I was not filled because there were no bids. My question is a)How do trades occur with no bids at that price and b) Is there a better method to guarantee a timely fill when the "last" price hits my trigger price? In this case the bids are 2 ticks below the "last" for quite a few trades. I have always been filled promptly on this kind of order before, assuming I take a tick or so slippage, so I am confused about what happened today. Any traders or IB folks who could clarify?
More...

Placing a MIT order is a simulated order type, not a CME order type. Therefore, your MIT order was held in your computer and NOT IN cme server.

Your IB broker failed to inform u this because either is lacks knowledge or doesn't give a shit on small traders because they just lose!!
 
if the ask was taken at that price, but the market never went bid at your mit level, IB is probably using the bid test not the last test, so it didnt execute I believe there is a way to specify what criteria is used by the algo.
 
Quote from emg:

Placing a MIT order is a simulated order type, not a CME order type. Therefore, your MIT order was held in your computer and NOT IN cme server.

Your IB broker failed to inform u this because either is lacks knowledge or doesn't give a shit on small traders because they just lose!!
More...

IB is informing about everything. So also about MIT orders held in system, not in exchange

http://www.interactivebrokers.com/en/trading/orders/mit.php?ib_entity=llc

lol
 
You must log in or register to reply here.
Back
Top