|
PureBytes Links
Trading Reference Links
|
At 03:05 PM 2/4/98 -0500, Greatelto@xxxxxxx wrote:
>One very big thing you have to keep in mind about a stop loss order. In the
>case of IOM, it is traded on the NYSE and that is where the stop loss is
>entered....the primary market. Any trading in the Third Market or after
>hours, regardless of where it is, will have no impact on the stop loss order
>until trading resumes in IOM on the NYSE. Only trades on the NYSE can
>activate the stop loss.
Not really, but it depends on the brokerage handling the order. For a true
stop order, the broker should hold the order until the price hits the stop,
then enter a market order. If the price somewhere besides the primary
market (Instinet, for example) hits the stop, the broker is still obligated
to create a market order.
>Stop loss orders and stop limit orders are no guarantee of loss protection.
I agree absolutely.
rld
Richard Leighton Dixon
rldixon@xxxxxxxx
Disclaimer: Nobody agrees with me.
|