Mechanics of shorting on Cybertrader

Discussion in 'Order Execution' started by countrydog2, Jan 25, 2006.

  1. I am a newbie and I do not understand the mechanics of how to short a stock on Cybertrader. If it is a Nasdaq stock when am I allowed to enter into a short and what price must I enter my sale at. I know there is some type of uptick rule on the bid price but I don't really understand this. Can someone help?? Thanks
  2. Donkell


    They're are several ways to short. Give me an idea on what you trade, stocks etc?

    How much per trade?

    I have been using Cybertrader for over 4 years and pretty much they are all the same.

    Also, what type of set up are you looking to short, highs, stocks dropping etc?

    Are you a daytrader, or are you willing to hold overnight or longer?

  3. My main areas of uncertainity on shorting is how to do it without violating any rules such as the "up-tick" rules. I know on NYSE stocks I can only sell if the current price is an uptick from the previous price or is the same price as the previous price and the price before that one was an uptick.

    On NASDAQ stocks I am confused because I think it is based on the bid price but I don't really understand how this works. I also read somewhere that you don't really have to be worried about violating the uptick rules because the up and down arrow adjacent to the last price will tell you whether or not you can short. However, if the arrow is up (or down), I am not sure of what price I am required to enter my short. I would be apppreciative if you could help clear this up for me. Thanks
  4. Donkell


    As I said there are many ways, but you can be rule safe as far as I know by shorting from the asked priced. As the stock moves up or back up on a dropping stock.

    As long as you feel that it is going to continue dropping, short on the asked rather than the bid, unless you are fast and there are enough shares showing then hit the bid. I have done both and you take the chance on the bid size to get only a partial fill if someone else hits it at the same time as you.

    But you also could get a partial on the asked if it starts down again.

    What size are you trading, and what price range of stocks are you mostly dealing with?

    Also is this swing trade or daytrade?

  5. GGSAE


    I was thinking about starting a new thread about this, but hopefully some replies will fill in here...

    Does anyone have problems using alerts? Sometimes they fire, sometimes they don't. Even when the conditions are the same, the alert will trigger, but the action won't.