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One final question... let's say a stock is at 25.00 BID and 25.03 ASK and I am going to short sell the stock. So, on my IB STOP LIMIT , what should I enter as my stop execution price? I know ( err... hope :eek: ) the stock is going to move downward. If I enter an execution price that is...

Well, now I think I am armed with the facts and can begin using IB stop limit orders! :) Thanks to all that replied! Mr. Toad

Ok... maybe I'm slow, but if you had a stop limit for a SELL of stock, wouldn't you want it to trigger when a particular BID price was matched?

I'm a new day trader, so you'll have to allow a little patience with me... I am seeking learned, educated comment re: the entry technique by the Datek user (in my original post) Is the Datek entry technique, verbatim as described, only applicable for a Datek user (i.e. utilizes some...

I think this is exploiting some anomoly in the Datek order matching system- all I know is that is how this guy does it and it works well for him.

Thanks ddifina... that is the nugget I have been looking for! The IB manual doesn't seem to mention this anywhere... grr! Differences in brokers! What an eye opener!

I agree Turok, that makes sense to me... so how is this guy doing what he is doing with Datek? It sounds like Datek is matching up buy orders at (using the Datek example I gave) anywhere from 25.00 thru 25.10 and he is getting filled at 25.10. No wonder he likes Datek- I went with IB for...

Addendum: In my example above, I am trying to SELL SHORT shares of the target stock.

I am subscribed to an online advisory service that makes chat room calls for daytrade entry and exits. They've been doing pretty good- not a losing day since startup in the first week of September. Anyway... the chat room host trades all of his room calls using Datek as their broker. 98% of...