With IB long positions are defaulted to the ask and shorts or sells to the bid; yet Island and I assume INCA will allow the opposite; any help explaining this much appreciated. Will other direct access brokers allow it?? Jmeyer
It is just designed that way for speed. You can change your price to with the hotkeys, mouse or keyboard before transmitting. The logic is that if you see a price you like and that you want to buy, you'll need to send a price in on the prevailing offer.