wrong price range

[guillembm]

Hi,

today I received this message: "IB, The price does not conform to the minimum price variation for this contract. (110) affected Order: BuyToCover 639 Limit @ 14.18"

The code that launches the order is ExitShortLimit(Shares, GetCurrentBid())

I contacted IB and this was their answer:
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CustService: this message comes in reference to a price entered as a limit
CustService: what was the ticker please?
IBUser: This was for the stock PHI (amsterdam). At 9:00:57 the price was 14.18
CustService: for phi the price increment is0.05
CustService: so 14.18 is not valid

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[NinjaTrader_Jason]

Hello guillembm,

Can you please tell me if you were connected to additional data feeds in NinjaTrader besides IB and if so, please tell me what sequence was used.

When I look at the PHI stock in TWS, I see prices reported in 0.001 (see screenshot - bid and ask price).

If the minimum price variation of the PHI is 0.05, I suggest to adjust the tick size. Please go to Control Center-->Tools-->Instrument Manager, highlight the PHI and click Edit. Set Tick size to 0.05 and click OK. Restart NinjaTrader and you should now receive PHI data in 0.05 increments. Subsequently, orders will be submitted that meet the minimum price fluctuation of 0.05.

[guillembm]

It's advised to perform this change for all stocks?

[NinjaTrader_Jason]

Please do not make this change for other stocks. I am not sure if there are any other stocks that use this minimum price fluctuation with IB. I suggest to contact IB for clarification.

[guillembm]

Sorry for this late post.

THe tick size is 0.01. So this shouldn't be the problem.

I get my data from esignal

[NinjaTrader_Jason]

If Tick size is set to 0.01, you will receive prices of 14.18 and 14.16.

You will need to ensure the strategy will only send orders at prices in increments of 0.05 (14.10 or 14.15) to avoid the order rejection with IB.