with IB you have to be very careful trading ASX penny stocks that are usually not liquid. IB have restrictions that will place a cap on your buy/sell if the stock is moving too fast - in order to avoid manipulation, basically.
IE if a stock is set up jump up 100% at open you won't be able to buy it in the morning auction because the price is too far from where it last traded. You have to wait for orders to go through at that price before you can too. and then in reverse if a stock has been sitting up 200% for an hour or so and the price suddenly drops 30%, your sell order might be capped closer to the high, because their algo says if the price was X 5 minutes ago you're not allowed to sell for 30% below X because that could be manipulation.
