Here's my situation:
1) Sending orders from tradestation to ninjatrader to IB.
2) IB IRA account DOES NOT have market data subscribed.
3) In NT ATI Tradestation tab, I have the checkbox checked that says "send market order if stop order was rejected".
4) Received the following error message in NT right at time order should have been filled:
5) Then a little while later, (I was confused), I received a message I didn't quite understand at the time that said "It's been 20 seconds since NT filled an order but Tradestation has not confirmed the order" or something like that.
6) Basically what happened was that even though NT said the order was rejected, the stop order actually filled at IB. I think this may be because IB allows you to submit (buy) stop orders below the current market price and (sell) stop orders above the current market price, and they turn these into market orders on their servers.
7) Simultaneously, since I had the checkbox checked in NT, a market order was submitted to buy. Thus, the double fill.
8) At end of day I figured out I still had a losing ER2 contract open.
How do you suggest I prevent these double fill situations while using my IRA account that doesn't have market data? (I'm not even sure the market data issue is part of the problem.)
Should I uncheck the submit market order if stop order was rejected checkbox?
Also, any idea why I got this rejected order message but IB still filled me?
Thank you for your time.
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