One step reversals

Discussion in 'Retail Brokers' started by inandlong, Aug 28, 2002.

  1. Because my daytrading strategy reverses, the ability to do it with the greatest speed and efficiency is valuable to me.

    Cybertrader allows short-to-long flipping in one buy, but not long-to-short. Tradestaton allows neither. The reasons for not allowing such are relatively garbage, as the code for each is fairly simple.

    Any flippers out there willing to share the names of firms that allow either or both methods of reversal?

  2. Surprised about that, didn't think that was legal ...
  3. The long to short creates a "potential conflict", but not if coded properly. The code needs to sell to close and then enter the SellShort immediately following.

    The short to long is just a matter of accounting.
  4. That makes more sense ...
  5. In and, Don't know if you trade large caps. You can do it with futures no problem, so if they don't figure out a way to screw it up, you should be able to do it with ssf.
  6. Are you talking about the following situation:

    You are long 500 and you want to get short 500 in one trade, you can not enter an order "Sell 1000"? You can do this if you have bullets up on this stock. If you don't have it, then you would have to enter Sell 500 (whci gets you glat), and another order for "Short 500" which would have to wait for an uptick to get short. This means getting short could NOT be done in one step if you do not have a bullet.
  7. Profitseer exacto. I am very interested in the SSF''s for that very reason. I understand the uptik rule and the previous need for it, I have to wonder if today's high volume trading makes it an arcane rule.

    NYC thanks...bullets are the only reason that I consider trading Proprietary. And to tell you the truth, I really don't know how much longer I'll be daytrading. I make as much or more position trading and I don't have to be pegged to the screens 24/7.

    Thanks guys for the input. Good trading today.
  8. u130747


    Datek does allow you to enter one order, but the computer seperates it into two orders, thus two seperate commissions.

  9. Thanks Bert, and as I have mentioned to Tradestation, I don't care about the commish because....
  10. alanm


    IB allows both. Short to long is a single order, both in the front-end and in execution. Long to short is split into two simultaneous orders - one sell long and one sell short. They also are "investigating" bullets, since it appears that there is no particular reason it can't be done for retail.
    #10     Aug 30, 2002