Traders' Roundtable

Recently I have trouble with trade execution with IB. Today I put a stop order for JPY Jun 06. The price pass my stop price but the order just sit there without being filled. A few days ago, I have the same problem. Just wondering whether others have similar experience. I have created a "trouble ticket" with IB but the trouble ticket system soon went down afterwards. Not knowing what's happening there.

mike168 wrote:Recently I have trouble with trade execution with IB. Today I put a stop order for JPY Jun 06. The price pass my stop price but the order just sit there without being filled. A few days ago, I have the same problem. Just wondering whether others have similar experience. I have created a "trouble ticket" with IB but the trouble ticket system soon went down afterwards. Not knowing what's happening there.

i saw some slowness trading gold and silver today and y'day...had to cancel a couple of trades and put new ones.

Was the price hit outside of nyse business hours? If you want a globex stop to execute outside this period you must select that option in order preferences. There are other time quirks on other exchanges / order types as well but if you dig deep enough you can work around them.

goldfish wrote:
i saw some slowness trading gold and silver today and y'day...had to cancel a couple of trades and put new ones.

This was an unusually volatile day and period. Could be the trade matching engine was overloaded. NYMEX has decided to move its energies back to globex in 06 presumably because clearport isnt up to snuff...

RedRock
Both incidences occured during RTH pit trading.

Did you look in your Audit Log to see if you got back acknowledgments when you entered the orders? The log will also show the type of order you entered.

No. I had never because if there is a problem with the order, there is always an error message. Anyway, where can I find the audit log?
Thanks.

mike168 wrote:RedRock
Both incidences occured during RTH pit trading.

Just to clarify.... IB will not execute a sim stop on globex before 9:30 eastern time or after 4:00 eastern. CME yen pit [whatevers left of it] opens at 7:20 central. leaving an hour and half after the pit open that your order will not fill.... Unless you select the trade outside normal business hours option.

Not saying this is your deal. But something to take note of...

Thanks RedRock. Although I'm still waiting for the reply on the trouble ticket, I think this is exactly my problem. I take that "trade outside normal business hours" = "trade outside RTH".
By the way, where did you get the figure 9:30 eastern time to 4:00 eastern?

mike168 wrote:Thanks RedRock. Although I'm still waiting for the reply on the trouble ticket, I think this is exactly my problem. I take that "trade outside normal business hours" = "trade outside RTH".
By the way, where did you get the figure 9:30 eastern time to 4:00 eastern?

IB calls RTH to mean NYSE hours. Odd? yes. But if you know that, you can work around. It is a different set of issues for cbot. stop lmt must be used outside rth.

Discalimer: This is off the top of my head, and may have changes since I studied...

When TWS is open click on View. One of the choices should be Audit Log. It is a feature that IB used to activate by default. The problem is you cannot activate TWS until tomorrow (Sunday at Noon, EST). You can also see the log, but not in an easy to read format, by opening your C:\jts directory and looking for a subdirectory with a series of random letters and Friday's date (4/21). Do a search for "Fri.audit.xml". You can open it with WordPad in Windows. Do not use NotePad. Scroll down and look at the info and you'll be able to figure things out. It is much easier using View from inside TWS. Do Not alter the file. Close it without saving or you might mess up the format and then View may not work correctly.

Also go here:

http://www.interactivebrokers.com/en/tr ... entity=llc

Scroll down to JPY and then click on Japanese Yen

Thanks RedRock and JackR. JackR, I will have a look at it tomorrow when TWS reopens.

this is the info you need regarding globex and ecbot stop orders....

http://www.interactivebrokers.com/en/tr ... entity=llc

The other link is general info for the new floor based access, which do not allow stops at all....

Thanks RedRock for your info.
I never knew I could be fined $1000-$5000 (the ecbot fair market value policy) just by inputing the order according to my systems.
What I do know is a few days ago I received an "excessive messaging" warning by putting 2 stop limit orders for CME Eurodollar futures. That "excessive messaging" could be fined for $2000.
Perhaps one should set up a thread for these seemingly absurd rules and traps.