This might not be the right place to post this. Apologies in advance if that's the case.
I'm putting the fInishing touches on an automated strategy that sends two seperate orders on trade reversals. For example, if I'm long SPY 50 shares and my stop price is hit, my strategy sends one order to close the existing trade, waits till that order is filled, and then places a second order to short SPY for 50 shares at market.
I originally coded my strategy this way to ensure proper order fills and market management at the cost of multiple broker fees (one for entry, one for exit).
However, could the above be achieved by simply sending a 100 share SPY short order to IB? It would, in theory, sell the existing 50 share SPY order, and leave the remaining 50 shares in the order for shorting.
Outside of Ninjatrader, this can be done in IB, and I *believe* the above example (selling 100 shares short) results in a single transaction fee in IB.
Can anyone at NT or another forum poster confirm this?
Thanks in advance as always for your time!
- SpIder
Comment