IB - Order Execution Time

oatman

Senior member
2,879 22
I'm not surprised what you say about the front running etc. It's always been going on in all markets.
We used to joke that the only way to get a fill in NY was to cancel the order.
 

Trader333

Moderator
8,655 981
Alan,

The Nasdaq stocks that I trade are different on any given day. The criteria that has been given by others on here is a good start such as

stocks > $15
At least 1 million and preferably 1.5M shares per day
Spread 1c to 2c
Daily range of $1

Personally I am not a momentum trader and I look for value instead which is serving me well. I also tend to find trades that suit my style more in the evening session rather than the afternoon.

If you have a strategy that works well on the S&P Mini then SPY is great to trade as it does not have wild swings and is easy to get filled either in or out with spreads of 1c

Paul
 

jonnyy40

Experienced member
1,329 11
Thanks
 

sidinuk

Established member
624 5
oatman,

instead of changing your limit order into a market order just change the limit price. So if buying set the limit above the market and below the market for a sell that way you'll be executed(!) at the market price straight away.
 

JonnyT

Senior member
2,560 22
If you are trading Globex and you enter a market order then IB has to convert the order into a limit order prior to sending the order to Globex. This is where there is a very slight delay. In a fast moving market this will make a difference.

If you enter a Limit or Stop Limit order the order is immediatly routed to Globex.

JonnyT
 

rossored

Senior member
2,103 56
Presumably that is the same on ECBOT for YM now its migrated from ACE, is it?
 

oatman

Senior member
2,879 22
Sid, I'm with you, but what happened is I tried to change the limit and nothing happened, so I thought best to pull everything in case "other" things were going on, and re-enter.
 

BBB

Experienced member
1,071 3
FYI: The GLOBEX matching engine doesn't accept stop orders! Your broker probably will take them for GLOBEX markets! How is this? The broker keeps your 'stop order' on their server (big computer) until the price is reached. Your brokers software then sends your stop order to the GLOBEX engine as a market order.

If your broker has built his software around PatSystems then your stop will actually be held on YOUR PC not a central server that you'd hope was more stable than a/your PC. If you turn your PC off then bang goes your stop order!

As for eCBOT being built around LiffeConnect, orders will be filled in priority of size, not time stamp.

This is my understanding of some odds n sods of getting orders filed that I hope helps. Others may know different???
 
 
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