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Interactive Brokers's TWS trade through limit order?
I made a trade today with TWS and I noticed that both when I bought and when I sold the TWS displayed price was smaller and higher respectively than my limit order. It was a long and for the sell I managed to make a screenshot. Notice the Bid/Ask price and the limit order on the chart
I opened a ticket with IB and would appreciate your answers as well.
To my knowledge it is not possible that the price trades through my limit order without closing it.
Have you experienced something like this and if yes, what was the issue?
I know TWS is full of bugs but I was expecting the order entry, where the bid and ask are displayed, to be battle tested by now.
Thank you and good trades!
Can you help answer these questions from other members on NexusFi?
I feared that, sorry that I have to say that, but using a Limit-order as stop-order is a horrible idea, of course can it trade thru without fill (if the market moves fast)
Thanks for your replies but I'm not quite sure I follow. It wasn't a stop loss order. I just didn't like the price action, wanted to get out and put a limit order.
Then I saw how the price goes up and down a couple of times through my order.
It was not a news related move or something similar, it simply traded a couple of minutes up and down the order limit price and then closed my position after going several pips above the limit order.
Yep this sounds curious, but believe me, to use a Limit-order as Stop-order is a huge mistake, it can trade thru and never look back and kill your account.
At the first arrow it made a very small partial close, then it bid above 0.85759 for the next 3 candles. I changed the price to 0.8576 and it closed the whole position only when it bid a couple of pips above.
Initially I was happy, I thought I get a few extra pips of profit (it happened a few times) but then I saw it closed it at the limit price and this intrigued me.
After an insane amount of ghosting from the famously horrible customer service from IB this finally got answered.
There issue was that my order was simply too small, that is, an odd lot order which works differently in terms or pricing and filling than a normal order and thus it might be filled a couple of pips away from the limit set for the order.
