How software treats sell orders.

Discussion in 'Trading Software' started by burnin, Dec 10, 2003.

  1. burnin


    Since the elimination of bullets/conversions, the way one covers longs works alot differently.

    Hypothetical situation--

    Long 1000 .50s

    mkt starts upticking
    Specialists opens to say 52-60
    my offer to cover is in at say 58

    Specialist prints size at 57, hence im still long

    Immediately, mkt starts downticking, and I want to cover my longs.
    Specialist wont cxl my 58 offer immediately, so any sell order entered is as a short sale.

    If the mkt is downticking, you cant even cover your longs.

    Q: An offer above the market will always meet the criteria of a short sale (if above mkt, its gonna take uptick to get there).
    Why would any trading platform treat that order as anything else than a short sale.

    I ve had coutless winners turn into scratch/loser with the above type scenario

    Im using gr8trade, and would like to know how other platforms work in a similar scenario.