do you IB customers have difficulty to short in down side?

Discussion in 'Interactive Brokers' started by emk662, Mar 29, 2001.

  1. emk662


    I have a lot of difficulty to short when the market is down. Usually, like today, it took me more than 10 minutes to fill the order. Do you IB traders have such difficulty?

  2. tntneo

    tntneo Moderator

    On IB it works fine.
    However, the delay with short sale is usually the short sale rule, not the broker [although 10 minutes is a lot, I hope the stock was very illiquid and explains it].

    It depends also what kind of limit you set to the order. On IB and NYSE, if the stock is liquid, I put in a market order for the short. I noticed market orders are faster and do have price improvement if the size is not too big.
    No market orders in illiquid stock or Naz for me.

    In a tanking stock, the uptick rule can put you on hold for a while. Well.. it does mean you come for the shorting too late ! Uptick rule sucks.
  3. pafcioo


    I agree with tntneo. Uptick rule is the most stupid rule I've ever seen. When it will be changed? Does anybody know?
  4. Eastboy


    The uptick rule is just a way the SEC uses to hinder the downslide of a stock price.

    IB users:

    Can you guys short on downtick?
  5. tntneo

    tntneo Moderator


    We can place the short order whatever the condition. However, execution is handled according to SEC rules [when using best exec feature]. That's why for NYSE I make it a market order to speed up the process. Of course I would watch closely what happens ready to cancel if needed. If I can't watch or trading Naz, then I send a limit order of course.
  6. emk662


    I traded TLAB yesterday. When I place the order, it was 43.25, but I got filled at 42.81 ten minutes later.

    For IB, does the limit order at NAZ help short in down tick?