Filling combos in IB paper account

[Darcy MacDonald]

So I've been following along for some time now in an IB paper account.  I'm having a terrible time getting fills.  In the course of digging around for ideas on how to do better, I came across this:

https://www.interactivebrokers.ca/en/software/am/am/manageaccount/paper_trading_limitations.htm

Note where it says "Fills are simulated from the top of the book; no deep book access".

So I'm thinking, what does this mean for a spread limit order?  Does it mean that you'll only get filled if both legs are top of book for a given spread price?  Having one leg touch the bid or ask without the other also touching or being under at the same time means no fill?

If I chart the spread, I'm frequently seeing the graph dip under my limit orders with no fills.  I'm thinking this top of book limitation may explain why.  Can anyone confirm?

 

 

[Kim]

Yes, paper account does not give reliable indication about fills. It would be very different in a real account.

[Nic]

Thanks for asking and digging into this (and for your response Kim). I just started this week and was wondering why my paper trades weren't getting executed even when members were posting fills at worse prices than mine.

 

 

[izzo70]

You could fund your regular account with IB, then get real time data and still just paper trade until you are comfortable.  This was advised to me by a CS Rep from IB but I didnt actually take his advice so not 100% sure that would work.  I use TOS now to paper trade and i have a much easier time.  I know its too expensive for real trades, i only use it for practice.  IB has always been an issue when paper trading.  In fact it wouldn't let me put on the calendar trades from this week but i was able to fill right away in TOS.

[Nic]

Great recommendation. Thanks!

[Darcy MacDonald]

So for those interested, I setup a limit order on the PCLN trade before market open (1650 puts in an IB paper trade account).  I priced it at 3.70 (I figured this was a very generous price and should absolutely get filled).  No fills, not even one, while Kim got in at 3.00. 

In the quote page, both the 1650 puts are still showing previous closed prices.  It seems as though the paper trading algorithm thinks these haven't traded yet today.  I am subscribed to market data.

 

[Nic]

Hmm, interesting to know. I am using the Android mobile app to paper trade on IB while away from home. Unfortunately it seems the mobile app has trouble with this security. Guess it's all those different strikes so I wasn't able to simulate this one.