Trader's Roundtable

weird

IB does not seem to like me entering the price of Rough Rice as example,
entry 9.660, as says "0.0966 does not conform to the minimum price variation of 0.005 for this contract".

If you do a market order, the price is in the 9.xx range, however seems a conditional order needs to be 100x the price ? Abit odd ? Any advice appreciated.

7432 · Posted: Thu Jul 29, 2010 6:59 am Post subject:

the last digit seems to be your problem.
try xxx5 rather than xxx6.

weird · Posted: Thu Jul 29, 2010 8:05 am Post subject:

Thanks for the reply , pretty sure though that is not it. Have you tried that theory on the paper account in IB ? I could be wrong, don't mind being smacked down for disregarding your post ... as I tried multiple attempts ... 1st contract I have had with this issue.

Next stop is asking IB, but thought I would get a better response from an actual trader that trades this contract using IB, than just some general IB support guy.

7432 · Posted: Thu Jul 29, 2010 8:53 am Post subject:

IB actually has decent service lately, try the chat or message center.

but a better way is to use the cme's website to adjust your futures dictionary, then test the orders with IB's paper trading thing. which kind of sounds like what you are doing.
cme says the tick size is 1/2 cent, so my previous post should have been xxx.50 or xxx.00, so get the dictionary to reflect that.

also, using IB, if you click to buy or sell, then hold down the left mouse button over the order price you'll see a scale of prices reflecting the tick size. that will help confirm your dictionary is correct and spitting out orders with the correct tick increments.

weird · Posted: Thu Jul 29, 2010 11:15 pm Post subject:

Thanks raised the issue as a trouble ticket with IB, problem does not occur on CBOT , only ECBOT.

This is the ticket I have raised:

Can put order on CBOT using IB (symbol ZR) as 9.660, however using IB and "ECBOT", given price for entry appears to require factor of 100 times, example instead of 9.660 requires 966.0.

Error on ECBOT entry 9.660, IB says "0.0966 does not conform to the minimum price variation of 0.005 for this contract". Price accepted if using CBOT as exchange.

Will provide an update, with IB reply.

weird · Posted: Thu Jul 29, 2010 11:57 pm Post subject:

Opps, looks like CSIdata was the culprit, showing the back adjusted chart as /100. Checked with futuressource.

Red Herring with CBOT, got it to work once, but 'fortunately' could not reproduce.

Will cancel trouble ticker with IB. Thanks for your input 7432, got me eventually to the issue and solution.