Interactive Brokers STOPs

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tpredictor
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Interactive Brokers STOPs

Postby tpredictor » 06 Mar 2014

I notice when I placed trades on IB. It says the limits are held at GLBX but that my stops are held and being monitored. How do I configure MC to submit the stops to the exchange?

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Henry MultiСharts
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Re: Interactive Brokers STOPs

Postby Henry MultiСharts » 06 Mar 2014

tpredictor, please refer to the following wiki article:Interactive Brokers Broker Profile:How stop orders work

tpredictor
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Re: Interactive Brokers STOPs

Postby tpredictor » 07 Mar 2014

Thanks for that. Does that mean the "blue orders" are being held on the IB server? Why would I want them there instead of CME for example?

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Re: Interactive Brokers STOPs

Postby Henry MultiСharts » 07 Mar 2014

Thanks for that. Does that mean the "blue orders" are being held on the IB server? Why would I want them there instead of CME for example?
Please contact your broker directly regarding this question.

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Re: Interactive Brokers STOPs

Postby evdl » 08 Mar 2014

What I understand from the IB status blue or green, is that the blue orders are held at the IB server and not directly on the exchange. The orders on the exchange are visible for every one. And the orders held at IB servers are only send to the exchange when the (limit)price of your order is hit. (and therefor not visible in the bid book until (limit)price is hit). That can be an advantage.

Disadvantage can be that the order is possible slower processed because IB is in between. But I can't tell for sure if this in practise is an issue or not.

tpredictor
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Re: Interactive Brokers STOPs

Postby tpredictor » 08 Mar 2014

I received worst slippage ever at IB trading the ES on a stop out. Without stops held at the exchange, the HFT traders have a huge advantage as exchange held stops have priority over HFT traders. I've read 2 versions on the blue orders. One version is that they are queue at the exchanged but only sent when it triggers and the other is that they are held at IB side. For CME, they dont technically support stop market but rather stop limit with protection. It may be that I need to set a stop limit for my stop orders then for them to be held at exchange?

If anyone has traded the futures like ES and CL for a long time at IB and other brokers. I'd like to know if you see worse slippage.

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Re: Interactive Brokers STOPs

Postby tpredictor » 09 Mar 2014

Experimenting some more.. it looks like the stop limits are sent to exchange but that TWS simulates the stop markets. As the CME supports "stop limit with protection", I'm assuming that stop orders should be stop limit to avoid slippage.


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