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Additional remarks: The orders that were executed on the Nyse have been
executed EXACTLY on the open price (mind you this is a test with small
orders of only a 100 shares each).
The uptick ruling in the case of SHORT transactions basicly is an insurance
that you will not short the stock at rediculous prices since the transaction
is only executed at a HIGHER price as the previous transaction (it is a bit
of a mystery how I got my shorts at the exact open price then ....). Today I
had enough time to execute the shorts that did not go at even more
favourable prices.
Sofar MOO seems pretty good. If there is NO uptick or NO transaction within
30 seconds after the market opens, the order is cancelled. That is the only
problem. So one has to do a bit of manual labor just after opening after all
...
regards, Ed
----- Original Message -----
From: "ed2000nl" <pablito@xxxxxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Wednesday, December 17, 2003 4:03 PM
Subject: Re: [amibroker] Re: Interactive Brokers / MOO orders / shorts
> here my report.
>
> according to my system I had to enter at the open (about 20% of the
account
> is divided amongst each symbol):
>
> Short positions:
> KO
> ETM
> GPM
> UVN
>
> Longs positions:
> S
>
> I placed MOO order directly to Nyse
>
> Executed were at 2 separate accounts (same prices on both accounts).
> short position ETM at 51.52 (official open price 51.53)
> short position UVN at 38.89 (official open price 38.90)
> long position S at 43.52 (official open price 43.51)
>
> Not executed are KO and GPM
>
> I managed to get in manually in a short KO at 50.60 (slightly better than
> the open price). Still working on GPM
>
> I am a bit disappointed not all orders went through,
>
> regards, Ed
>
> ----- Original Message -----
> From: "ed2000nl" <pablito@xxxxxxx>
> To: <amibroker@xxxxxxxxxxxxxxx>
> Sent: Wednesday, December 17, 2003 1:24 PM
> Subject: Re: [amibroker] Re: Interactive Brokers / MOO orders / shorts
>
>
> > John,
> >
> > today I will try it out (small orders only). The MOO test on the Nasdaq
> was
> > not too bad. Only a few cents off (+ or -) with respect to the
"official"
> > open price where on average I would expect to be able to use the open
> price
> > in my calculations.
> >
> > Today I am going to trade Nyse stocks only. I set my orders already and
> they
> > are directly routed to the NYSE (9:30 am). Can't find it at the moment
but
> I
> > read that this order should be executed in a "bulk" order at the open
> (other
> > then MOO orders on the Nasdaq)...... hope I am not wrong about that
(only
> > playing with small money)
> >
> > ..... will let you know ..
> >
> > rgds, Ed
> >
> >
> > ----- Original Message -----
> > From: <jea55129@xxxxxxxxx>
> > To: <amibroker@xxxxxxxxxxxxxxx>
> > Sent: Wednesday, December 17, 2003 12:52 PM
> > Subject: [amibroker] Re: Interactive Brokers / MOO orders / shorts
> >
> >
> > > Ed,
> > >
> > > Let us know how it turns out, but I have a feeling it won't be in
> > > your favor. Yes, you will get filled. But at what price. Everyday I
> > > see market orders get filled far away from the bid and ask. Sometimes
> > > a point and more. And I am talking about equities with lots of
> > > volumn, msft,amd,etc...
> > > I used to do market orders at eod. They'd get me some times. But most
> > > times the gap in the next am would take care of it.
> > >
> > > Regards,
> > >
> > > John
> > > --- In amibroker@xxxxxxxxxxxxxxx, "ed2000nl" <pablito@xxxx> wrote:
> > > > Herman,
> > > >
> > > > I hope you didn't have these problems when trying to short stocks
> > > on the Nyse/Amex using MOO orders. This is what I am going to try
> > > today. If this doesn't work either then those MOO orders are a joke.
> > > But as I understand on the Nyse/Amex the specialist gets all MKT
> > > orders on the open together, thinks of some nice price and executes
> > > them. So today they should go. If it works then basicly these
> > > backtests in AB are pretty exact. No slippage only commissions ...
> > > >
> > > > rgds, Ed
> > > >
> > > > ----- Original Message -----
> > > > From: Herman vandenBergen
> > > > To: amibroker@xxxxxxxxxxxxxxx
> > > > Sent: Wednesday, December 17, 2003 8:48 AM
> > > > Subject: RE: [amibroker] Interactive Brokers / MOO orders / shorts
> > > >
> > > >
> > > > Hello Ed,
> > > >
> > > > My Short OPG orders were cancelled after 15 seconds, I also
> > > inquired, see below. I never had a problem with Long orders. I think
> > > ETFs are also excempt from the uptic rule.
> > > > Dear Trader,
> > > > In response to your inquiry our programmers have informed me: 15
> > > SECONDS.
> > > > Sincerely,
> > > > IB Customer Service
> > > > -----Original Message-----
> > > > From: ed2000nl [mailto:pablito@x...]
> > > > Sent: December 17, 2003 3:05 PM
> > > > To: amibroker@xxxxxxxxxxxxxxx
> > > > Subject: Re: [amibroker] Interactive Brokers / MOO orders /
> > > shorts
> > > >
> > > >
> > > > Herman,
> > > >
> > > > on my question how I could be assured a list of stocks to be
> > > shorted on the Nasdaq would indeed be triggered, IB says:
> > > >
> > > > > This will be a difficult task as you will need an uptick at
> > > the open. If a market on open or limit on open order is not filled
> > > > > in 30 seconds IB will cancel the order.
> > > >
> > > > but there must be a way to do it but for sure I can not do it
> > > by hand because I have several accounts to work on ..... one woud
> > > think that to buy a stock one would have a similar problem on the
> > > Nasdaq. However ALL my longs were triggered on ALL my accounts.
> > > >
> > > > regards, Ed
> > > >
> > > > ----- Original Message -----
> > > > From: Herman vandenBergen
> > > > To: amibroker@xxxxxxxxxxxxxxx
> > > > Sent: Wednesday, December 17, 2003 12:54 AM
> > > > Subject: RE: [amibroker] Interactive Brokers / MOO orders /
> > > shorts
> > > >
> > > >
> > > > Try higher volume stocks. You need to define why the order
> > > wasn't filled, email IB for perticulars (from your TWS). Usually it
> > > is either the uptick requirement of the volume that makes the Short
> > > order expire, sometimes it is an IB error :-)
> > > >
> > > > h
> > > > -----Original Message-----
> > > > From: ed2000nl [mailto:pablito@x...]
> > > > Sent: December 16, 2003 11:24 PM
> > > > To: amibroker@xxxxxxxxxxxxxxx
> > > > Subject: [amibroker] Interactive Brokers / MOO orders /
> > > shorts
> > > >
> > > >
> > > > hello,
> > > >
> > > > having a system that seems to work fine is only useful if
> > > one can use it in the "real" world. I wonder if there are people
> > > using Interactive Brokers (IB) who have solved some practical
> > > problems.
> > > >
> > > > first you need to backtest a system using a list of stocks
> > > that actually are allowed to be shorted. I have the list so that
> > > problem is solved hopefully. How reliable is this list. Is it updated
> > > or does one run into stock one cannot short after all.
> > > >
> > > > Then there is the problem of the orders. Since I use open
> > > prices in a current system I am testing I use MOO orders. They are
> > > actually designed to be used on the Nyse and Amex but I only used
> > > them on the Nasdaq and I get a price pretty close to the actual open
> > > price when I place a MOO buy order (for small orders). But SHORT
> > > orders were not executed (on the Nasdaq) because the 30 sec time
> > > limit was exceeded ..... So I am pretty comfortable with the LONG
> > > orders but would like to know how people place SHORT orders at the
> > > OPEN with Interactive Brokers,
> > > >
> > > > regards, Ed
> > > >
> > > >
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