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IB price capping
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IB price capping

  #1 (permalink)
Elite Member
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IB price capping

Is there a way to get rid of price capping at Interactive Brokers? Except of course calling them for each individual ticker.
I had a situation few times when I had short position on a stock and the price went against me so I wanted to cover for a small loss, but I couldnít because of price capping. Unless you have another account without price capping where I would buy that stock, I just couldnít cover position that I already have. Not to mention buying ie promotion tickers on a day one (but thatís the price of having a wrong broker for buying promotions). Is there a work around for disabling price capping at IB?

Thanks

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  #2 (permalink)
Market Wizard
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Perhaps you should give a realistic example what exactly was your problem.

Normally, you won't have any problems covering any short positions during the regular trading session
as long as you are willing to pay the ask. If there's no spread or you are unwilling to pay the ask, you
surely won't get a fill. Simple as that.

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  #3 (permalink)
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yes it was during premarket and after market earnings play, i contacted IB and they said they will cap price sometimes in these environments and to call to have removed, my only issue was that by the time you call price has probably moved significantly. i just don't like someone else controlling my risk as i feel i do it best myself.

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  #4 (permalink)
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I hate to bring up an old thread but this is the most recent forum I can find on this IB Price Capping.

As a beginner to day trading, I was paper trading with IB for a few of months and was doing OK. I use NinjaTrader charting as well. Today I decided to make my first live trade with IB which was a simple Limit Order at the Ask (long) and then the warning about Price Capping came-up and immediately clicked DECLINE because I didn't understand what it was. Then I noticed that trade was pending and did not fill(showing a green rule on the chart). So I canceled the order. I'm guessing it didn't fill because I didn't accept the Market Capping BS.

I'm assuming there's no way to disable this "feature"? I read that in older version of TWS (2013), there was actually an option to disable it in Global Config / Orders /Presets /Stock but it's no longer there.

How often will I be effected by this rule if I trade stocks (long and short) with Limit orders inside of regular market hours? My preset buttons are configured to buy long at the Ask and Sell/Short at the Bid. If I make 50 trades per day, on average, how many trades will be effected by this rule? If it depends, how so?

And what exactly happens or what will I notice when this effects my trades? I'm trying to determine if I should just move-on to thinkorswim or stay with IB for a while longer. For strictly paper trading with IB, it's been costing me $14.50/mo. (10 for inactivity and 4.50 for live market data) Any addition info will be valuable to be. Thanks so much.


Last edited by graz; July 1st, 2017 at 01:11 AM. Reason: Add content.
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  #5 (permalink)
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Anyone? Thanks.

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  #6 (permalink)
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graz View Post
I hate to bring up an old thread but this is the most recent forum I can find on this IB Price Capping.

As a beginner to day trading, I was paper trading with IB for a few of months and was doing OK. I use NinjaTrader charting as well. Today I decided to make my first live trade with IB which was a simple Limit Order at the Ask (long) and then the warning about Price Capping came-up and immediately clicked DECLINE because I didn't understand what it was. Then I noticed that trade was pending and did not fill(showing a green rule on the chart). So I canceled the order. I'm guessing it didn't fill because I didn't accept the Market Capping BS.

I'm assuming there's no way to disable this "feature"? I read that in older version of TWS (2013), there was actually an option to disable it in Global Config / Orders /Presets /Stock but it's no longer there.

How often will I be effected by this rule if I trade stocks (long and short) with Limit orders inside of regular market hours? My preset buttons are configured to buy long at the Ask and Sell/Short at the Bid. If I make 50 trades per day, on average, how many trades will be effected by this rule? If it depends, how so?

And what exactly happens or what will I notice when this effects my trades? I'm trying to determine if I should just move-on to thinkorswim or stay with IB for a while longer. For strictly paper trading with IB, it's been costing me $14.50/mo. (10 for inactivity and 4.50 for live market data) Any addition info will be valuable to be. Thanks so much.

What's the problem? You should only be affected by price capping outside of RTH, when there are gaps( from news/earnings etc). If you trade penny stocks then you could potentially run into price capping during RTH, but it would still be a rear occurrence

Good luck with moving on to TOS, I don't even think TD will let you participate in equities outside of RTH.

"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
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  #7 (permalink)
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Neo1 View Post
What's the problem? You should only be affected by price capping outside of RTH, when there are gaps( from news/earnings etc). If you trade penny stocks then you could potentially run into price capping during RTH, but it would still be a rear occurrence

Good luck with moving on to TOS, I don't even think TD will let you participate in equities outside of RTH.

That's all I needed. Thanks. I always trade in RTH and don't do penny stocks so according to your answer, I'll hardly see price capping. Most of the time when I googled "Price capping" the search results pertained to IB. So I'm guessing IB is one of a few brokers that have implemented this. I guess I'll stay with IB for now since I won't be bothered by price capping as your answer dictates. Also considered Lightspeed but it requires a 25k minimum at ALL TIMES. Can't go below it. Thanks.

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  #8 (permalink)
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If this is what i think... IB TWS has a default setting that imposes a max dollar amount of $100k (assuming USD) on a transaction. One ES contract for example has a nominal value higher than that so the first time you buy you will see an error. There is an option on that dialog to set a new max, and to override the restriction so your current trade will go through. Hope this helps

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  #9 (permalink)
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teajay View Post
If this is what i think... IB TWS has a default setting that imposes a max dollar amount of $100k (assuming USD) on a transaction. One ES contract for example has a nominal value higher than that so the first time you buy you will see an error. There is an option on that dialog to set a new max, and to override the restriction so your current trade will go through. Hope this helps

OK. Good to know. Thanks.

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  #10 (permalink)
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esmini View Post
Is there a way to get rid of price capping at Interactive Brokers? Except of course calling them for each individual ticker.
I had a situation few times when I had short position on a stock and the price went against me so I wanted to cover for a small loss, but I couldnít because of price capping. Unless you have another account without price capping where I would buy that stock, I just couldnít cover position that I already have. Not to mention buying ie promotion tickers on a day one (but thatís the price of having a wrong broker for buying promotions). Is there a work around for disabling price capping at IB?

Thanks

Is price capping during ETH really such a bad idea?

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