Steve2 Elite    Posts: 750 Joined: 10/11/2012 Location: Annapolis, MD  User Profile | Hi Keith, There are four cases that I'm aware of where IB will cancel or reject a MOO order. 1. You have insufficient buying power even though you may also have submitted some closing orders. To resolve this, you need to configure TP to Delay Opening Orders. When configured this way TP will submit closing orders first and then meter in opening orders as the closing orders execute and buying power becomes available. 2. You are trying to open a short position and stock is not available. To resolve this, TP has to be configured to submit market orders rather than MOO orders. If you do this, IB will hold the order until the stock is available and the order will only be cancelled if the stock is not available by the end of the day. IB is very good about finding stock so this almost never happens but the order may not execute until some time after market open at whatever price the stock is at that time. 3. You are trying to open a position in a thinly traded stock and the size of your position is greater than (I think) 10% of the average daily volume of the stock on the exchanges that IB uses for trading that stock. Note that this can be much less than the average daily volume of the stock across all exchanges on which it trades. To resolve this, TP has to be configured to submit market orders rather than MOO orders. This manifests itself as a cancelled order with the reason being something like Order Limit Size Exceeded. 4. An order is rejected because it exceeds the order size limits (shares or amount) that are set in the IB Gateway. To resolve this, just increase the IB Gateway limits. I don't know if this same thing can happen with the Nirvana FIX server. This is a question for Nirvana. The first three of these cases are independent of whether you are using a Gar Wood account or submitting orders via the Nirvana FIX server. If you know of any other cases where orders get cancelled or rejected, please let me know. Steve | |
