I've been having a weird issue after hours trading ES futures ( E-mini ). Whenever I have an opened position, I like to set a contrary ( protective ) Stop Limit Order pretty far of the market, just a protection against dangerous issues as Internet service/Electricity down fir example. But when this protective Order is submitted in IB, the order is immediately canceled. I asked them and they say there are a maximum limit for prices set by CME ( Globex ) but they didn't say it.

Any ideas?

Thanks

pstrusi 

I've been having a weird issue after hours trading ES futures ( E-mini ). Whenever I have an opened position, I like to set a contrary ( protective ) Stop Limit Order pretty far of the market, just a protection against dangerous issues as Internet service/Electricity down fir example. But when this protective Order is submitted in IB, the order is immediately canceled. I asked them and they say there are a maximum limit for prices set by CME ( Globex ) but they didn't say it. Any ideas? Thanks

That sounds unusual to me. It does not make sense that the CME would have a say on where one puts their stops.

Have you tried a Stop Loss order as opposed to Stop Limit?


Also, could it be that the stop is so far that it exceeds your margin (although I have never heard this personally)?

Yes, as Xplorer said, maybe this is the reason (margin), otherwise it is really unusual.


Non the less, using a Limit Stop order as stop-loss isn't really a good idea.

tr8er 

Yes, as Xplorer said, maybe this is the reason (margin), otherwise it is really unusual. Non the less, using a Limit Stop order as stop-loss isn't really a good idea.

You can't submit a Stop Limit order in ES where the "Limit price" order is lesser than 6 against "Stop Limit". if it's wider the order is canceled at the exchange

The only stop order which makes sense is a Stop Market order