I’m sure we’ve all been there, placed a limit order only to be stuck on ‘Processing’ with that spinning circle going round for what feels like infinity.
Will it take 1m, will it take 30mins, will it take 5hrs before it gets placed?
If the price changes and you want to cancel, its a case of peer at your phone every few minutes hoping to catch it in time to cancel before it gets executed.
This is not ideal. Nobody’s got time for that.
Firstly, it would be great if T212 could monitor the current average time to get a rough estimate on liquidity.
Secondly, why not have a button to press that says ‘Cancel once placed’. This way the split second T212 get the message back from IB they can send the cancel request. They could even have an overlay with ‘No guarantee it’ll be cancelled before execution, but we’ll try our best’. With a ‘I understand’ button to proceed.
Thirdly, if a limit order on a stock gets executed at the set auction times ( SETSqx 8am, 9am, 11am , 2pm and 4:35pm) then please display that. (Then you can take the decision do I try my luck with a market order or hope the price is around that in what could be a couple hours time)
Anyway back to peering at my phone the rest of today waiting to catch that cancel button, please be soon, I’ve got stuff to do.
Edit: 1hr later…