I have seen this suggested by several different people but I have always been skeptical.
If I submit an order at 9am that passes margin checks and then proceed to loose 90% of my account by noon, I can't bring myself to believe that IB will allow the now non-compliant order to fill when I change it. In other words I believe there has to be some validation at execution time, not just submit time.
It may be that modifying an order has less overhead than submitting a new order but I can't believe that IB would expose itself to changes in a client's risk profile that happened after the order was submitted.
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On 12/6/2015 7:07 PM, Ben Alex ben.alex@... [TWSAPI] wrote:
* Place orders away from the market price so that risk management checks have already been completed, then modify the order when ready to invoke.
