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This is a discussion on Interactive Brokers within the Brokerages forums, part of the Commercial category; where the slippage occured, Dax and Eurostoxx, could have sent a courier pidgeon and got filled quicker. still you live ...

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Old Sep 16, 2009, 12:02pm   #1401
 
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where the slippage occured, Dax and Eurostoxx, could have sent a courier pidgeon and got filled quicker. still you live and learn.

Craig
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Old Sep 16, 2009, 9:55pm   #1402
 
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Originally Posted by craigd View Post
where the slippage occured, Dax and Eurostoxx, could have sent a courier pidgeon and got filled quicker. still you live and learn.

Craig
Your problem isn't IB, it's the fact that you don't understand how the markets work, you need to read a book on market microstructure, how pricing works, and how orders are filled. If you understood all that you would realise that slippage is as natural and normal as getting a boner in the morning, and you would also know whenand how to enter and exit to minimise this.

Why does everyone blame their broker rather than realisng they themselves are at fault?
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Old Sep 17, 2009, 8:58am   #1403
 
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It is not a question of slippage due to price movement, you are correct that is a natural cost of doing business.

You have assumed from the few words I wrote, that I have a limited understanding of the markets. This may or may not be true but I do know one thing, that the friend of mine sat next to me at the time DOES definately have a good understanding of the markets.

My issue is the speed of the platform or Fruit Machine as my friend calls it. On the IB system you can see when the order has been accepted by the system, it is the order acceptance speed at times of market movement that is one of my issues with IB.

If I lift the market to get out of a position. ie hit a market order, I do not expect TWS to spend a few seconds mulling it over, like wise I also realise that the IB system will not be as quick as a direct to exchange system, But speed differences should be measured in milliseconds, not seconds. Lets face it a market order is a market order, it doesnt que it goes in at the bid.


In hind sight IB is not the place to be day trading futures.

That aside, I am a customer with an account at IB, whatever the size of the account I want someone at the end of the phone who gives a damn about my problems. If I have taken the trouble to make an international call to their help desk (usually because the on line chat takes over 30 mins to connect) I want the person to HELP me. If we find it is my mistake or the problem is at my end thats fine.

Maybe next time Virtuos0, it maake be prudent for you to ask a few more questions of a poster prior to making assumptions about their experience. the number of posts doesn't always reflect their experience
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Old Sep 17, 2009, 9:04am   #1404
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Quote:
I also realise that the IB system will not be as quick as a direct to exchange system
IB is direct market access so how are you going to get better than direct market access as a retail client ?

Quote:
In hind sight IB is not the place to be day trading futures.
For many it is a perfect solution for day-trading futures but I guess it depends on which futures you trade


Paul
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Old Sep 17, 2009, 4:45pm   #1405
 
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Quote:
Originally Posted by craigd View Post
It is not a question of slippage due to price movement, you are correct that is a natural cost of doing business.

You have assumed from the few words I wrote, that I have a limited understanding of the markets. This may or may not be true but I do know one thing, that the friend of mine sat next to me at the time DOES definately have a good understanding of the markets.

My issue is the speed of the platform or Fruit Machine as my friend calls it. On the IB system you can see when the order has been accepted by the system, it is the order acceptance speed at times of market movement that is one of my issues with IB.

If I lift the market to get out of a position. ie hit a market order, I do not expect TWS to spend a few seconds mulling it over, like wise I also realise that the IB system will not be as quick as a direct to exchange system, But speed differences should be measured in milliseconds, not seconds. Lets face it a market order is a market order, it doesnt que it goes in at the bid.


In hind sight IB is not the place to be day trading futures.

That aside, I am a customer with an account at IB, whatever the size of the account I want someone at the end of the phone who gives a damn about my problems. If I have taken the trouble to make an international call to their help desk (usually because the on line chat takes over 30 mins to connect) I want the person to HELP me. If we find it is my mistake or the problem is at my end thats fine.

Maybe next time Virtuos0, it maake be prudent for you to ask a few more questions of a poster prior to making assumptions about their experience. the number of posts doesn't always reflect their experience
I would never claim that IB are perfect, but from a retail perspective I do not believe there is a superior option. If I get a bad fill I don't assume IB is out to get me or even that there is necessarily a problem. If you want better you may need to look at getting a prop desk!

I agree that there customer service is awful, but you can't expect such a large organisation to give you as much attention as a small organisation, tis always the way in any business. The tradeoff is that you have the security of knowing that you're funds are as safe as they can be. From my perspective I would rather spend a few frustrated hours trying to contact customer service than have some tiddly broker go belly up and disappear with my hard-earned.
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Old Sep 17, 2009, 6:01pm   #1406
 
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IB is a bit like the B&Q diy superstore...it expects its' customers to have a basic understanding of whatever it is they wish to do before they come in the door/open an account.
IB is not for the inexperienced
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....Indicators show the past. Price Action "Indicates" the future.
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Old Sep 28, 2009, 1:38pm   #1407
 
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How do you trade SETSqx stocks using Interactive Brokers' Trader Workstation? e.g. Minerva (MNR@LSE)

According to docs at the LSE (google for "SETSqx") - trades on the order book only get settled at 8am, 11am, 3pm and 4:35pm - which means having bought stock on the order book, you have to wait several hours before you're able to sell them... which is damn useless. (There's no such thing as a 'market order' for SETSqx...)

(I think) Market-makers provie the bulk of the buy/sell activity for SETSqx stocks, so I guess I've overlooked some basic feature of Trader Workstation to grab quotes and execute trades through a Market-Maker? How do I do that?
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Old Sep 28, 2009, 1:49pm   #1408
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Anyone use the Charttrader mode of TS? Is it really as clumsy as it seems?
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