|
PureBytes Links
Trading Reference Links
|
I did some little testing on IBs system two days ago. In the morning after
London and Frankfurt market had opened, but before opening RTH at CME /
Globex I placed a buy limit order into the IB system. One or two seconds
later it was announced in the CME sqwuak box and shown in QCharts. I
cancelled the order at once. This took a little bit longer in the IB system
- guess 2 to 4 seconds. And was directly shown in QCharts. Did the same
test on the short side. Same performance / reaction.
I tested in a real trade with a IB marketorder to open a position. I was
wondering - the market order took longer (about 2-4 seconds) then a limit
order and had a bad fill. The same time needed closing the position - also
a bad fill... Watever IB is simulating for Globex or other exchanges - this
first thing I thaught getting this responses and fills: Is there probably
an "internal" crossing / matching system... or what? Sometimes I'm
consulting banks or brokers in Germany. So I know the pros and cons about
"internal" crossing / matching systems.
I don't like using stops very much because I know what is or can be done
with these stops. Had talks with former brokers and with active
professional traders... I also watched several important stop marks for
hours and days and got confirmation what they have told me - especially on
Eurex, too. Stop limit order - o.k. but including the risk not get filled.
So if I don't know or understand what the market actually is doing or I
don't feel well I close my position and stop trading for the rest of the
day. I do the the same when the trading system - like IB yesterday - is not
properly working.
I don't know how IB is handling a stop or stop limit order if the IB system
is down. For my understanding of a properly working ECN like Globex, Eurex
or others a limit order or stop limit MUST be in the Globex system.
rgds, Ralf
> -----Ursprüngliche Nachricht-----
> Von: DH [SMTP:catapult@xxxxxxxxxxxxxxxxxx]
> Gesendet am: Freitag, 8. Juni 2001 02:02
> An: Paul Newton; Omega List
> Betreff: Re: [Off Topic] IB data problems
>
> > I had it more like 5 minutes late.....it does not happen often thank
> > goodness........btw when it is messed up STOPS DONT WORK
>
> How about market orders? The way I understand it, IB simulates those
> with a limit order x points above below the bid/offer. If the quotes are
> screwed up, it seems like the market orders could be as well. How about
> stop limits? I've heard they are stored in the globex system rather than
> on the IB computer.
>
> --
> Dennis
|