I'm receiving error messages regarding Active Order Limits, what does that mean?
Overview:
IB imposes certain limits on the number of active orders an account is able to have outstanding at any one time.
Background:
If the total number of active orders in any one account exceeds 10,000, any new orders submitted in excess of 10,000 will be rejected.
In addition to the limit on total orders in an account, there is also a limitation on stacked orders for any one contract, on the same side of the market (either buy or sell). If the total number of stacked orders exceeds 15, new orders are rejected. For example, if you had placed 15 separate buy orders for IBM, your attempt to place a 16th buy order for IBM would be rejected.
Is my order suspended or deactivated while I am modifying it?
Overview:
The order is not temporarily suspended while you modify the price or any other parameters of the order. The order is still active at the exchange if it has already been sent there. You do run the risk of being filled on the original order until the modified order has been sent to, and accepted by, the exchange. Only at that point are the previous order dead and the modified order working.
Background:
In the Trader Workstation you have the option of deactivating the working order while you modify. Once an order has been transmitted and before being filled, you can right-click on the order line and select “Deactivate” in the drop-down menu. This will deactivate the order while you make modifications.
If you want to modify parameters other than Price or Quantity of an order in the TWS, you must cancel the working order and create and transmit a new order. This practice is commonly required by order destinations.
Once an order parameter is modified, you are required to resubmit the order. The modification will not take effect until the order is resubmitted.
What do the colors in the Status column of my order lines mean?
Overview:
Light Gray: Indicates you are in the process of creating an order and have not yet transmitted it.
Light Blue: Indicates you have transmitted your order, but have not yet received confirmation that it has been accepted by the order destination.
Pale Purple: Indicates an order has been accepted by the system (simulated orders) or an exchange (native orders) but that currently the order is not working, due to system, exchange or other issues. When the order becomes active, the order status color will change appropriately.
Dark Blue: Indicates an order has been accepted by the system (simulated orders) or an exchange (native orders) and that this order has yet to be elected. The order status remains dark blue until election criteria are met. At the time the order is triggered, the order status color will change appropriately.
Green: Indicates the order has been accepted and is working at the order destination (exchange).
*When you display the Shortable market data column, this color indicates that at least 1,000 shares are available to sell short.
Dark Green: This color is used in the Shortable column and indicates that this security can be sold short, but currently there are no shares available for short sale and the system is searching for shares "on the street".
Magenta: Indicates you have sent a request to cancel the order but have not yet received cancel confirmation from the order destination. At this point the order is not confirmed canceled. You could still receive an execution while the cancellation request is pending.
Burnt Orange: Indicates a cancellation request has been accepted by the system but currently the request is not being recognized due to system, exchange or other issues. At this point the order is not confirmed canceled. You could still receive an execution while the cancellation request is pending.
Red: Indicates the balance of the order has been confirmed canceled by the system. This could occur unexpectedly when the destination (exchange) has rejected the order.
*In the Shortable column, red indicates that no shares are available for short sale.
*Once the order is confirmed canceled, the Order Management line will disappear from your trading screen after 30 seconds. Please see the Customer Agreement found on www.interactivebrokers.com for further information on order confirmation and order cancellation.
Maroon: Indicates an attached simulated order type has been accepted by the system and has yet to be elected. The order is held in the IB system (and status remains maroon) until the election criteria are met. At that time the order is transmitted to the order destination specified and the order status color will change appropriately.
