Hey O,
There is an MB thread you can utilize for broker specific stuff...
Subject 19037
OK Instinet, thats just for the pros. If you needed to work an order using Inca, then you would have to call in and let the trading desk do it for you.
The best way to short a stock?
I'm not the guy to ask about what's best.
Here is what I do on Nasdaq...
If the stock is in a nose dive, with volume, if I see an uptick on the bid, I will SOES the bid. Next to the Bid there is a little Red or Green arrow that indicates if the Bid is on an uptick or downtick.
Most often this is not what happens.
Often the short entry is made on the ask. If the spread is only 1/16 then you simply join the best ask. Your sell offer has to be a minimum of 1/16 above the bid - if the bid is on a downtick. So if the spread is an 1/8 or a quarter or more, you can set your offer to beat the best offer. That is how I enter a short trade usually.
ABC 10 x 10 1/4 on a down tick... place a sell on ARCA, at 10 3/16
ABC 10 x 10 3/16 the trick is you need a buyer now to take you out.
While waiting for a fill, if the bid upticks, I may get in that way and cancel the order on the ask.
Many of my trades involve canceled orders and adjustment of price and order route. In general the ARCA button is an excellent choice.
Much is dependent on the types of stocks you trade, and your own style.
You may want to take a look at using the ISLD button if...
If you see a lot of ISLD activity on the stocks you are trading. The ISLD provides tremendous liquidity, which makes for instant split second executions, if you see an ISLD bid or offer that you want to cross. You got to be fast though.
Good luck,
funk
Also there are two chat logs on the MBTrading web site one about using Island and another about SOES.
See you at #MBTrading today? |
