$97.30 Sell-Stop Order Filled at $96.30!

[davidfw1866]

When the crude oil market was near $98 per bbl today, I placed a sell-stop order at $97.30; however, the sell-stop was filled at $96.30!

What in the world is going on?!

[NinjaTrader_Ray]

Looks like slippage? I take it this is a live order? If yes, then this is a question for your broker.

[davidfw1866]

Ray:

Yes, it was a live order through Interactive Brokers (IB).
With the price of crude hovering around $98, I was
looking to sell a break below $97.30 with a stop; however,
the order was filled at $96.30, or 100 ticks lower!

I will definitely have to discuss this with IB tomorrow.

On a related issue, when you place a stop loss, does NinjaTrader
automatically place a limit on that stop loss? While reviewing my
trade summaries, I noticed that each stop loss had an associated
limit that was $0.20 from the stop loss.

[NinjaTrader_Ray]

For Globex exchanges this is correct. This is because there was time where globex only supported stop limit orders natively, stop markets were held on IB servers.