GME needs it removed, also, get rid of it in general, there’s no need for this, it literally stops people using your platform.
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Hi Trading212 team.
Can you please remove this limit for TRXC and BB.
Thanks in advance.
more issues here, now have this for OPTT. Can this be removed please? @David
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The max distances for all recently cited instruments have been increased.
?
We can increase the distances but not remove them completely. An order might get rejected by IB if the target price is set too far from the current market price.
@Rumen I assume it has a max distance listed in its database? Rather than about here, discover where the hidden threshold is?
A bit like setting the max decimal places a limit order will accept, surely theres a way to loop through the database and set the distance to whatever the max is?
Like @chad5k1 OPTT
There is no fixed distance provided by IB. We set the distances subjectively, based on the current market price and our experience. On different occasions, we have received alerts for rejected orders due to the target price being too far from the current price.
Sometimes, when the stock is rather volatile, we apply changes to the distance more frequently. There is definitely room for improvement in this area.
That sounds a mega frustrating limitation of their API if they have enforced a max distance on instruments without telling you what that distance is.
@Rumen Can you have your system automatically respond when you receive a “rejected” order response to adjust the distance on the instrument, and tell the customer
“Distance auto adjusted to 100 +/- from [current price] and to try again”.
If that then rejects again, it lowers the distance
“Distance auto adjusted to 50 +/- from [current price]. Please try again”.
Rather than them go why did that reject, and then come onto the forums to post here, for you to then manually set a rough guess of where the max is probably around.
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What I am trying to say is the following - IB works with a wide array of trading venues/exchanges. Each trading venue has its own trading rules and limitations. If IB receives a notice/warning that a certain trade cannot go through due to some criteria not being met, they pass it along the chain as information, and we respond proactively. I do not want to blame them at all.
Phil, you are on point here. Our long term goal is to have the max distances for all instruments automatically updated. It would be better if that feature becomes dynamic. This has been discussed. However, I cannot specify ETA for its optimization.
@Rumen So at the moment on any instrument, are all the distances manually set? With ~10,000 instruments thats got to be time consuming not to be dynamic.
Is it just set once when its added, and then only gets updated when someone grumbles in this thread? I mean SP change all the time so the initial distance could be too tight within days with some instruments that pop after they are added.
You would have thought IB as the API provider would have noted the max distance on the all the exchanges for a particular instrument
so
ABC is 100
XYZ is 70
XXX is 80
then it goes right the max to be compatible distance is:
70
And they then add it to the data feed for the instrument so any brokers that use their API know what is an acceptable distance rather than play a guessing game.
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@Rumen GME was Not increased, it’s still locked at ~1000, please increase this much further.
Currently, GME is at $89, that is the maximum distance we can offer is $1000.
Hi please increase the max sell price on amc
@Rumen is it possible to answer my post above? I assume it’s set just on initial adding to your db and then manually adjusted?
@phildawson We try to keep the distances at 100% away from the current market price. When rapid changes occur, we have to keep an eye on such instruments more frequently.
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Hi trying to set up a stop limit selling lloyds shares and says the entered price value is to high from the current market value ?
@Rumen Please can we have it adjust for INRG too?