IB questions

O

o10maximus

Are stop orders held in the software or are they sent as soon as they are created?

Can orders of held positions be executed via the "account info" or "executions" page?

If i place a stop order, but decide to exit my position prior to the stop, will both a market and limit order cancel my stop order?

Does IB offer 4-1 margin for $25k + accts?

Thks
 
4x margin: yes for daytraders
stops are held at ib for NASDAQ and GLOBEX but sent for NYSE and most european markets (native stops) see IB exchanges page
 
NYSE stops are simulated and not native. IB will never cancel any orders based on changes to account positions except for resting short sale orders that will be automatically cancelled whenever a long position with a smaller size is established. O assume that this will be fixed once IB gets around to implementing proper splitting of combined sell and short sell orders.

Dave
 
Originally posted by def
dlinke,
i believe the splitting of sales and short sales is done and was put into production on Monday.
More...

I've still had non-marketable limit sell orders automatically cancelled yesterday when either a smaller sized long position was established or after a partial sale of an equally sized long position. Maybe this part of the issue was forgotten about when they implemented the splitting.

Dave
 
Dave is right with the NYSE stops, I do use to trade NYSE stocks and I do not use stop orders most of the time, so I was not really aware of the NYSE issue.
 
One more question.

If im long 200 shrs, can I get short by selling 400 shrs of the same stock; instead of doing two trasactions to get short (200 to cover long + 200 to get short).

thks
 
Originally posted by o10maximus
One more question.

If im long 200 shrs, can I get short by selling 400 shrs of the same stock; instead of doing two trasactions to get short (200 to cover long + 200 to get short).

thks
More...

Based on def's post above the necessary automatic splitting of orders has been implemented since Monday. However, it seems that hey have forgotten about the case where there's a resting sell order when the position in the stock changes. In that case the sell order is still cancelled instead of replacing it with the appropriate combination of sell and short sell orders.
 
isnt that i almost want to say illegal? for example if you have long 200 of dell and have a stop for 400, and it trigers you cover your 200 and go short 200, does the system automatically split the oda and wait for an uptic for the 200 so they execute according to nasd rules? sorry if this was explained here but i dont exactly get it. thnx
 
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