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Unethical Conduct by IB
- Thread starter TRADERguy
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Quote from IBj:
Sorry, what was actually said was very different than what you state. Please see my post on page 23 of this thread and the additional info provided by IBsoft on page 24. Pink status is persistent.
IBj-got this from your post on page 25:
"It is rare that an order just vanishes. If it does, you should double check to ensure you are where you expect to be. If a client cancels an order, and sees it go pink (could be for a fraction of a second), then red, he can assume he is out. If he hits the cancel, then shuts down the TWS immediately without waiting for the confirms, or just goes away then logs back in later or just comes back, then that would be a poor assumption since the intermediate stages of the cancel process do provide valuable and indicative information. "
Seems reasonable for me to think from this that pinks may flash "for half a second" and in "rare occasions disappear". Where have I gone wrong?
Quote from ddunbar:
How would one go about proving such a thing anyway given that the software is designed to keep pink persistent until the status of the order changed?
Right this is the problem. There is no way to know if the original poster's order with its pink status actually disappeared or not. In order to believe that the pink status order actually disappeared from his account, you have to trust him. So then it becomes a he said/she said type of argument.
However, since I have had one experience with an order just completely disappearing from my TWS, I am not going to say it can't happen.
Quote from fhl:
IBj-got this from your post on page 25:
"It is rare that an order just vanishes. If it does, you should double check to ensure you are where you expect to be. If a client cancels an order, and sees it go pink (could be for a fraction of a second), then red, he can assume he is out. If he hits the cancel, then shuts down the TWS immediately without waiting for the confirms, or just goes away then logs back in later or just comes back, then that would be a poor assumption since the intermediate stages of the cancel process do provide valuable and indicative information. "
Seems reasonable for me to think from this that pinks may flash "for half a second" and in "rare occasions disappear". Where have I gone wrong?
Pink is a transitory state, i.e. "pending cancel". A Simple workflow example:
1) order is working. Status = working; color = green
2) client initiates a cancel request. Status is pending cancel; color = pink
3) cancel request is acknowledged by the current "holder" of the order, either IB's servers for simulated orders, or the ECN/Exchange/Counterparty if the order has been sent to them. Status = cancelAcknowledged = you-are-out; color = red
The pink remains until a cancel-ack or a too-late-to-cancel (which implies an exec report) is received. If the destination is operating correctly, the cancel-ack can be received in a fraction of a second so the pink state is very short. However, the subsequent red color confirms the out which is the desired result. If the cancel-ack is not received, then the order is in an unknown state and will stay pink on the TWS until its true state (either cancelled or executed) is known.
Quote from IBj:
Pink is a transitory state, i.e. "pending cancel". A Simple workflow example:
1) order is working. Status = working; color = green
2) client initiates a cancel request. Status is pending cancel; color = pink
3) cancel request is acknowledged by the current "holder" of the order, either IB's servers for simulated orders, or the ECN/Exchange/Counterparty if the order has been sent to them. Status = cancelAcknowledged = you-are-out; color = red
The pink remains until a cancel-ack or a too-late-to-cancel (which implies an exec report) is received. If the destination is operating correctly, the cancel-ack can be received in a fraction of a second so the pink state is very short. However, the subsequent red color confirms the out which is the desired result. If the cancel-ack is not received, then the order is in an unknown state and will stay pink on the TWS until its true state (either cancelled or executed) is known.
Thank you for clarification. What got me messed up was the statement that "the intermediate stages of the cancel process do provide valuable and indicative information. " This led me to believe that if an order line was gone, we may still be on the hook because of something we missed in the intermediate stages of the cancel process.
You know every service entered Canada, it was somehow changed.
IB Canada always told me that the problem was caused by TSE stock exchange, like no quote, incorrect quote/size, delayed quote. That is a standard answer.
But the truth who knows. We as trader can only take care of ourselves.
IB Canada always told me that the problem was caused by TSE stock exchange, like no quote, incorrect quote/size, delayed quote. That is a standard answer.
But the truth who knows. We as trader can only take care of ourselves.
Forex trade is getting popular and popular. I observe from the kind taste of news to openning an account to practice by myself.
I start to trade stock in 1996. I observe internet trading from news on newspaper to main street topic in the peak in 1999. I follow the market news and see how Taxi driver trade on internet. I tell in you. There were various mistakes you cannot imagine. But through these blue collar's hand, things getting nasty. So back to topic, Forex trade is like era of Internet stock trading for average people.
For a newbie to Forex, pay straight attention on each of trade.
Stick on limit order. Reduce and even Avoid any cancelation
transaction. Learn from your peers how a mistake happen.
Bokers you deal with could be blamed. But for your best interests, you are better off finding solution from yourself.
I believe most brokers trustable but system could be unstable.
You need to take very cautious to deal with it. Smelling sth,
get rid of it as fast as possible.
I start to trade stock in 1996. I observe internet trading from news on newspaper to main street topic in the peak in 1999. I follow the market news and see how Taxi driver trade on internet. I tell in you. There were various mistakes you cannot imagine. But through these blue collar's hand, things getting nasty. So back to topic, Forex trade is like era of Internet stock trading for average people.
For a newbie to Forex, pay straight attention on each of trade.
Stick on limit order. Reduce and even Avoid any cancelation
transaction. Learn from your peers how a mistake happen.
Bokers you deal with could be blamed. But for your best interests, you are better off finding solution from yourself.
I believe most brokers trustable but system could be unstable.
You need to take very cautious to deal with it. Smelling sth,
get rid of it as fast as possible.
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