Australian (ASX) Stock Market Forum

Interactive Brokers Troubleshooting

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rotoso said:
So - in essence I see that IB is certainly cheap, BUT do we have a list of current irritating issues or niggles.
Click to expand...

No IB is a thing of beauty,

While on this thread i have a question for you currency trading gurus, i was tiding up my account last month closing out a small $US currency position, i did this via the account window in TWS.

What i'm having trouble understanding is why do i now have a "Virtual Position" in the FX section ? I assume i can't close this as i got this warning when i tried, "This is a virtual position, close non base currency positions in the cash section" or words to that effect, can't give the exact wording as i don't have TWS up and running .

Thanks in advance.:)
 
rotoso said:
Hi Guys/Gals,

After getting hammered with trade costs with Comsec I am looking for an alternative. I am a short term trader (shares) - holding prob from 1 day to 2 weeks and I am finding that my costs are going through the roof, esp for trades over 20k in value.

I realise that you have to pay to play - but with Comsec charging for fundamental things like conditional trades I am looking for alternatives. As I mentioned I don't need anything fancy but it needs to be reliable easy to use and not overly expensive if you do more than 10 x 10-20K valued trades a month. IB looks good but seeing some of the concerns with faster moving stocks >10% ect has me concerned as I have a dynamic trading plan.

So - in essence I see that IB is certainly cheap, BUT do we have a list of current irritating issues or niggles ?

Thanks in advance.
Click to expand...

I have used Comsec (never agian!) as well as Bell direct and IB.

IB are, in general, awesome. Setting up and account is a little painful, but their trading platform is amazing and prices are incomparable. The 10% rule is a farce and is my only complaint.

Isn't it the job of the ASX to prevent stocks from trading wildly with speeding tickets?

Bell Direct are also pretty good but their trading platform is nothing on IB. I also had occasional problems where the trading platform would become unresponsive, particularly around the day's close. I much prefer the simple and clean layout of Bell Direct to Comsec.

HTH.

A.
 
cutz said:
No IB is a thing of beauty,

While on this thread i have a question for you currency trading gurus, i was tiding up my account last month closing out a small $US currency position, i did this via the account window in TWS.

What i'm having trouble understanding is why do i now have a "Virtual Position" in the FX section ? I assume i can't close this as i got this warning when i tried, "This is a virtual position, close non base currency positions in the cash section" or words to that effect, can't give the exact wording as i don't have TWS up and running .

Thanks in advance.:)
Click to expand...

Adjust the position to 0 and the currency pair won't be displayed in the FX portfolio anymore.

By the way, anyone having problems with Webtrader timing out every few minutes recently?
 
Two questions please:

1. How do I put a bracket order on an existing position? I always have auto bracket order to all of my pending open orders (i.e. the parent order). But sometimes IB goes and delete my orders after, say, ex-div. Do I need to create 2 orders myself and link them as one-cancel-other or something? If so how?

2. Say I have a sell order for 100 BHP at $35 that is on the exchange at the front of the queue. If I change the price to $34 but haven't hit the transmit button, is my $35 order still on the exchange? What if I change my mind and don't want to change the price anymore. That is, I re-enter $35 and hit transmit. Will my order be now at the back of the queue or stay at the front as it originally was?

thanks
 
skc said:
Two questions please:

1. How do I put a bracket order on an existing position? I always have auto bracket order to all of my pending open orders (i.e. the parent order). But sometimes IB goes and delete my orders after, say, ex-div. Do I need to create 2 orders myself and link them as one-cancel-other or something? If so how?

2. Say I have a sell order for 100 BHP at $35 that is on the exchange at the front of the queue. If I change the price to $34 but haven't hit the transmit button, is my $35 order still on the exchange? What if I change my mind and don't want to change the price anymore. That is, I re-enter $35 and hit transmit. Will my order be now at the back of the queue or stay at the front as it originally was?

thanks
Click to expand...

SKC

In reply to your second question, if you change the price in TWS but don't transmit, you have not sent any instruction to the exchange so your original price is still active. You can undo your price change in TWS by clicking on the order line with your alternate mouse button (usually right button for right handed mouse, and left button for left handed mouse) and select 'restore' from the drop down selection list (don't confuse the 'remove' option with 'restore' as 'remove' operates in a similar fashion to 'cancel' order).
 
A good platform that cost $1k? Wow, it must be good... LOL

seriously though, I had to change the way I trade to accommodate these changes and also have another backup broker. There is no use waiting for IB to implement the mods...

Perhaps this is the reason...

http://www.heraldsun.com.au/busines...nalty-for-fortis/story-e6frfinf-1225760971518

regards

paul


app2 said:
You are exactly right. It is a SERIOUS problem and has cost me over a grand! The phone operator said it had something to do with ensuring they don't get in trouble with the ASX for manipulating prices. :banghead:

It is getting close to being a dealbreaker. Otherwise IB are fantastic.

A.
Click to expand...
 
How often do IB do double sells. I sold 6600 share and they got sold in two lots. One parcel being $6 and the other $1.66. Is this common?

Also I got a dividend for MLB but I couldn't find anywhere that said they were paying one. Weird?

Also do you recieve interest with cash holdings or money just sitting there not being used for trading.
 
skc said:
1. How do I put a bracket order on an existing position? I always have auto bracket order to all of my pending open orders (i.e. the parent order). But sometimes IB goes and delete my orders after, say, ex-div. Do I need to create 2 orders myself and link them as one-cancel-other or something? If so how?
Click to expand...

On TWS go to page,
click layout, order columns, then click show disabled.Find OCA group and add it to the shown columns.Click apply and ok.

You now have enabled OCA.

Too attach orders, just right click the stock and select trade, then order ticket.Just place the amount of shares that you already have and set a stop order.In the OCA group, name this whatever you like.Click accept etc.Now repeat this step for a limit order if you want one, remember to keep the name the same in OCA box though.

You should see identical set up as you would by originally setting a order with brackets.
_________________________
 
Porper said:
On TWS go to page,
click layout, order columns, then click show disabled.Find OCA group and add it to the shown columns.Click apply and ok.

You now have enabled OCA.

Too attach orders, just right click the stock and select trade, then order ticket.Just place the amount of shares that you already have and set a stop order.In the OCA group, name this whatever you like.Click accept etc.Now repeat this step for a limit order if you want one, remember to keep the name the same in OCA box though.

You should see identical set up as you would by originally setting a order with brackets.
_________________________
Click to expand...

tazm said:
SKC

In reply to your second question, if you change the price in TWS but don't transmit, you have not sent any instruction to the exchange so your original price is still active. You can undo your price change in TWS by clicking on the order line with your alternate mouse button (usually right button for right handed mouse, and left button for left handed mouse) and select 'restore' from the drop down selection list (don't confuse the 'remove' option with 'restore' as 'remove' operates in a similar fashion to 'cancel' order).
Click to expand...


Thank you so much Porper and tazm. Works like a charm.

Sorry about the late thank you - been overseas.
 
ThingyMajiggy said:
Gee I love how IB automatically fills my order even though its a limit order for a point and a half away. :mad::mad:
Click to expand...

They might see you as a cheap source of income. Would be asking for a "please explain" from them and when they start bull shipping, reach down the phone and rip the uni. boys tongue out.
 
ThingyMajiggy said:
Gee I love how IB automatically fills my order even though its a limit order for a point and a half away. :mad::mad:
Click to expand...

hey just wondering if you are setting a buy limit order, this will buy at the limit or under right? maybe thats why its filled straight away? is your limit price above current stock price?

you might want a buy stop order which will buy at the stop price or higher, not sure if that helps.
 
soren_lorensen said:
hey just wondering if you are setting a buy limit order, this will buy at the limit or under right? maybe thats why its filled straight away? is your limit price above current stock price?

you might want a buy stop order which will buy at the stop price or higher, not sure if that helps.
Click to expand...

haha yeah thats what I had done :eek: I contacted support and they kindly informed me, tool of the week nomination right here! :D
 
anyone running IB trough Amibroker, if your thoughts?

I don't know why but I am just not a fan of Ninja Trader
 
skyQuake said:
Don't even get me started on their charts. For a platform with a lot of bell and whistles their charts are very lacking.
Use ninjatrader for charts, would save you a lot of pain.
Click to expand...

that's what i am saying mate, Ninja charts can't be zoomed out enough. Not IB charts forget those.
 

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