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Everything posted by Donté
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IB (Interactive Brokers) - Margin Requirement checker
Donté replied to ryan_pdt's topic in Day Trading Brokers
Thanks for sharing the link, Ryan! I ran into a similar scenario attempting to short MLNT today. DAS Pro showed the equity as "Marginable by default". The margin order I placed was rejected due to IB showing the stock as non-marginable. (E.g. I didn't meet the initial margin requirement of 100% trade value in my IB acct.) Wondering if anyone has run into this issue before and is there a way, within DAS, to get a more accurate view of IB's margin requirements on any given stock? The website you shared, Ryan, is helpful, but not a quick-to-execute option. -
Thanks for weighing in, schaeferjjay. As I naively understand it, when the price is falling, placing a marketable limit order at the Bid effectively becomes a market order. Under SSR, this is prohibited. However, an order placed on the Ask (or higher) does get filled. I've been using the following hot key script successfully this week for shorting a stock under SSR: ROUTE=SMRTL;Share=100;Price=Ask+0.01;TIF=DAY+;SELL=Send the following has worked for me as well: ROUTE=SMRTL;Share=100;Price=Ask;TIF=DAY+;SELL=Send
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Thanks for weighing in on this, Kyle. No - it's not an error message. When a stock is on SSR, I found that DAS rejected orders placed using the following hotkey script: ROUTE=SMRTL;Share=XXX;ACCOUNT=XXXXXXXXX;Price=Bid-.10;TIF=DAY+;SELL=Send When shorting on bid is prohibited, it looks like we're required to submit marketable limit orders on the Ask. I switched to the following (entering share size within the montage window): ROUTE=SMRTL;ACCOUNT=XXXXXXXXX;Price=Ask;TIF=DAY+;SELL=Send Seems that this is the best way to get the order filled quickly when the price is moving fast and SSR is in effect. Is this reasonable or is there a better way?
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When attempting to short a stock on Short Sale Restriction (SSR) within DAS, particularly when "shorting on bid" is prohibited", I'm unable to get a short marketable limit order filled. Any attempt to get a short limit order on the ask filled generally doesn't work when the price action is really moving. What is the best way to get an order for a short filled *quickly* when the price action is moving fast and the stock is on SSR? I appreciate your input, Team.