Shorting stocks on SSR

[hagereseb 2]

Let's please settle this once and for all - this is my dilemma / question:

I am trying to short stocks while they are on SSR. My hotkey for shorting regular stocks is at the bid-0.2 price. It doesn’t work on SSR - obviously. It has to be on ask+few cents. I understand that. But what route do you use? When it is selling hard I wanna get in right away (the way Andrew and others do) but I am having my order rejected and then I do another limit order at the ask+few cents price. Basically I end up chasing it until it upticks and it hits my limit price at the ask+few cents price.

Can someone please share your hotkey for shorting a stock in SSR. What route? Limit or Market? I will adjust the share size myself. I use CMEG and it would be great if you now it works with that broker.

Thank you very much in advance.

[hailchaser2 185]

Everyone has to wait for an uptick when it's on SSR, even Andrew. So it's very difficult to enter on a breakdown or breakup of a level. You have to enter before the break. I usually stay away from SSR because of that, I time my Breakouts with L2 chewing through big asks or bids,, so this doesn't work when its on SSR because its not going to tick back in the direction I need.

When I do short an SSR, I have learned not to chase it, if it doesn't tick up and fill me, that's ok. I look for a new trade instead of getting a bad entry.

I'll go to my other computer and copy my hotkeys in the comment below.

[hailchaser2 185]

I also have a CMEG account.

This is a Kyle Dynamic Hotkey, $10 risk calculated depending on my stop loss.

StopPrice=Price+0.01;DefShare=BP*0.97;Price=Price-Bid+0.01;SShare=10/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price=Bid+0.01;TIF=DAY;SELL=Send;DefShare=400;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0.1 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY;

 

 

 

[hailchaser2 185]

Now that I'm looking at that script, I'm wondering, is this how others set theirs up? I always thought I had just switched Price=Bid-0.05 to Price=Ask...……..but the script above shows that I just switched it to Bid+0.01 instead of Bid-0.05

 

 

here is my normal Kyle $10 Risk short hotkey

StopPrice=Price+0.01;DefShare=BP*0.97;Price=Price-Bid+0.01;SShare=10/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price=Bid-0.05;TIF=DAY;SELL=Send;DefShare=400;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0.1 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY;

Edited March 18, 2020 by hailchaser2

[mhileman 21]

I have this one setup using DAS with CMEG that works when a stock is SSR and going down but bouncing up a little before it heads on down.

It  uses the Smart Route based on the ASK +.01 and it also has a Stop Loss at the Market Average Price +.10.

ROUTE=SMRTL; Share=100; Price=Ask+0.01;TIF=DAY;SELL=Send;TriggerOrder=RT:STOP STOPTYPE:MARKET StopPrice:AvgCost+.10 ACT:BUY QTY:POS TIF:DAY

[csxilin 6]

I am using Kyle's script as well.

I am on IB. I find that went I short SSRs at the bid gives me the price at the Bid when the price of that Bid moves into the Ask. So I am getting over all a really bad fill and I still had to wait for someone to buy my shares.

So for SSRs I always short at the Ask. 

[Bryan W 50]

If you are in standalone SIM, for shorting something on SSR you have to change your shorting hotkey to Bid+0.01  It's a "fault" in the SIM order server that would normally be taken care of automatically if you had a brokerage.