ATM Stops with IB

[SteveB]

I would like to bracket my ATM order with a plain old Stop Market; not Stop Limit.

I have "Stop Limit Offset" set to "Off".

and "Use Stop Market for stop loss orders" set to "True".

All my Orders are being sent/executed as Stop Limit Orders?

What else do I need to have Stop Market orders sent instead?

Thanks!

[NinjaTrader_RJ]

I would like to bracket my ATM order with a plain old Stop Market; not Stop Limit.

I have "Stop Limit Offset" set to "Off".

and "Use Stop Market for stop loss orders" set to "True".

All my Orders are being sent/executed as Stop Limit Orders?

What else do I need to have Stop Market orders sent instead?

Thanks!

Hello SteveB,

Thank you for your post.

Can you please tell me what instrument you are trading with?

Not all exchanges accept stop market orders. If you click in the "Use stop market for stop loss orders" box, you will see a message at the bottom that details this.

[SteveB]

Es 12-08......

[NinjaTrader_RJ]

Es 12-08......

ES is traded on the Globex exchange and stop market is NOT supported.

[SteveB]

Why can I enter Stop Market orders directly from IB TWS?

How can I move my ATM stops? Many times if I move them more than a few points they disappear?

[NinjaTrader_VinceB]

What version of TWS are you running? You need to be on TWS 887.

If you don't have this version you can download it from here:

http://www.ninjatrader.com/webnew/support_interactivebrokers.htm

[SteveB]

I am always running the latest version (887.2).

It is checked every morning.

[NinjaTrader_RJ]

I am always running the latest version (887.2).

It is checked every morning.

You will have to check with IB to see if they have a workaround of some sort, as it is my understanding stop market orders on globex are not supported. They are not supported using NinjaTrader.

[SteveB]

Response from IB

It has been told to me by NinjaTrader that Globex, where ES is traded, does not accept Stop Market orders...?

Any idea what's going on?

Unfortunately that is not entirely correct. In TWS if you enter a STP order it would trigger on the market. This order type is available on the exchange for the contract ES. As a test you should be able to go to TWS and enter an STP order for the same contract and it should trigger as a stop market order which should show you that this order type is available. You may need to speak to Ninja Trader to see how you would be able to enter a STP order to see what possible configuration changes you may need to make or if they even support this function using there ATM.

[SteveB]

Recent Discovery:

The DOM still submits StopLimit orders.

My Strategies stops appear as StopMarket orders...

???