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EFXandy · 16-11-2007, 07:02

Longtang,

Thank you for your quick reply. I am very sorry that you seem to be having trouble finding the type of order that you need. I am not sure who told you that you are only 1% of traders who have trouble understanding the TTOs and most have no issues with it. I will ask around to see if anyone gave you that TERRIBLE response. I can assure you, that this is not a response I would endorse. The fact of the matter is, there are so many different TTOs, that they can be confusing. It is only after reading through all of them and practicing the many TTOs that you will begin to love them and rely on them.

I will look into this customer service response, and make sure you are not made to feel like an "idiot". There is simply no excuse for that type of treatment.

As far as your issue with the TTO order becoming a market order, thus exposing you to inherent market slippage, I could not agree with you more. I wonder if we will be able to add that type of intricate order onto our next platform, but given that TTOs by nature link multiple orders with each other, I can only imagine the difficutly is large (poor choice of words, but it works)

The only way I see around your order selection issue is to forget the TTO in your situation, and use two different orders, one for your stop/loss, and one for your profit target limit. For the profit target, that is simple enough, just use a limit order. For the stop/loss, I would suggest using a stop-limit order. Enter your trigger, and then your limit on that stop, thus limiting what you will eventually pay in slippage...you can make it 0 to infinity pips wide. The problem I have with this, is that if you are wrong in a trade, and have to get stopped out, you should just get out and not get greedy. Yes, you open yourself up to slippage, but you also avoid the chance that you miss your stop/loss completely, leaving you in a naked losing position. The risk is up to you.

I do hope you will give it another shot, or at least give me a call so we can find out what a better option for you is.

Either way, I wish you luck.

Andy

16-11-2007, 07:02	#4
EFXandy level 1 Join Date: Sep 2007 Posts: 16 Downloads: 0 Uploads: 0 Rep Power: 0	Re: Looking for a good IB Longtang, Thank you for your quick reply. I am very sorry that you seem to be having trouble finding the type of order that you need. I am not sure who told you that you are only 1% of traders who have trouble understanding the TTOs and most have no issues with it. I will ask around to see if anyone gave you that TERRIBLE response. I can assure you, that this is not a response I would endorse. The fact of the matter is, there are so many different TTOs, that they can be confusing. It is only after reading through all of them and practicing the many TTOs that you will begin to love them and rely on them. I will look into this customer service response, and make sure you are not made to feel like an "idiot". There is simply no excuse for that type of treatment. As far as your issue with the TTO order becoming a market order, thus exposing you to inherent market slippage, I could not agree with you more. I wonder if we will be able to add that type of intricate order onto our next platform, but given that TTOs by nature link multiple orders with each other, I can only imagine the difficutly is large (poor choice of words, but it works) The only way I see around your order selection issue is to forget the TTO in your situation, and use two different orders, one for your stop/loss, and one for your profit target limit. For the profit target, that is simple enough, just use a limit order. For the stop/loss, I would suggest using a stop-limit order. Enter your trigger, and then your limit on that stop, thus limiting what you will eventually pay in slippage...you can make it 0 to infinity pips wide. The problem I have with this, is that if you are wrong in a trade, and have to get stopped out, you should just get out and not get greedy. Yes, you open yourself up to slippage, but you also avoid the chance that you miss your stop/loss completely, leaving you in a naked losing position. The risk is up to you. I do hope you will give it another shot, or at least give me a call so we can find out what a better option for you is. Either way, I wish you luck. Andy