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Non-Tech : Income Investing -- Ignore unavailable to you. Want to Upgrade?

To: spindr00 who wrote (37699)	2/3/2019 7:19:11 PM
From: YBInvestor	Respond to of 52048

Re: Was a fun last few minutes and after hours trading. Spindr asked: “Can you quantify that? Is there a specific setting for an afterhours trade?” Spindr, Interactive Brokers offers three time choices for any stock/bond orders that you have. 1) “Regular” hours- 9am-4pm EST is the default 2) “Allow this order to be filled outside of regular trading hours” 7am-7pm 3) “Allow order to be filled during pre-open session” 7am to 4pm You can set this order attribute either when you place the order, or you can change it from one type to the other any time you like. You can also set this attribute when you automatically enter/edit orders through a third party program, using IB’s API (application programming interface). You can make these orders good until cancelled, so you do not have to reenter them every day. I cannot tell you exactly how after hours orders work on all other brokerages. In some cases, you must enter a separate order distinct from your regular hours order. In some cases, you can only enter after hours orders during that time period, i.e. you cannot have GTC orders. I have no knowledge of how after hour orders work at Ameritrade. (Although I did meet Jack White one time in La Jolla. . . obscure reference for old timers.) What I have seen at IB is in some cases where I have say the real “National Bid” price, say 24.00, it does NOT show at IB. I can see it showing on differenct platforms. Maybe IB shows a bid of 24.5, so I think my order is not marketable. Then I change my order to say 24.01, and immediately IB shows 24.01 as the official bid. Often when the bid price changes, the ask price will change at the same instant. So the ask price was also incorrect/misleading. In IB’s case, it can be confusing where your order(s) stand relative to the real order book.