Lightspeed hotkeys questions

Discussion in 'Retail Brokers' started by 6pst6, Sep 3, 2009.

  1. 6pst6


    I was wondering if there is a a way I can configure a hotkey for 50% and full closeout attempts at the ask.

    ex: own 200 shares GE and 200 shares BAC

    When I hit the 50% hotkey, LSP will attempt to closeout 100 shares of GE and 100 shares BAC at the current offer.

    I know there is a 50% and full hotkey for getting out at the market price, but is there anything for attempting the take the offer?

  2. Getting out at market price is pretty much the same thing as taking the offer.
  3. 6pst6


    You mean going out at market is the same as hitting the bid?

    I know the closeouts hit the bid, I was just seeing if there was anyway to attempt to take multiple positions out at the offer. I'm talking about long positions btw
  4. My bad. I was describing covering a short. But getting out of a long is hitting the bid.

    As far as reducing multiple positions by 50% you might have to have a custom key made. I know Sterling has this type of hot button.
  5. 6pst6


    Yeah there is a closeout key for hitting the bid. I'm just looking for an attempted closeout of all positions by taking the ask.
  6. But if the trade is going against you, why bother trying to get out on the ask? Just hit the bid.
  7. 6pst6


    I trade stocks that tend to run up real fast and subsequently could give up gains very quickly as well . Positions are held for a maximum of 2 minutes. The 50% closeout wouldn't be for trades going against me, but exiting stocks that are running up and securing profits that might have a high spread.

    I could manually go through the process, hitting 5 for 500 shares being half the position), cycling to the other stock and doing the same...but that is lost time.

    I don't trade more than one stock at a time very often, but when I do, I would like faster execution without giving up the spread.