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> Lots of brokers accept STOPS for mini aswell - only the silly GLOBEX
> system doesnt (yet)
>
I'm in favor of electronic trading and global markets - as long as they are
real, liquid and permits the same type of orders as during the day.
The problem I have with Globex now is that when I have bigger positions on
overnight, I must watch these illiquid markets all friggin night where they
don't permit stops.
I suppose one could argue that I would get slammed in the morning via a gap
anyway, though there are many times when wild (illiquid) swings occur at
night and it upsets me into taking action that ruins my original plan.
And...after all that, many times the day market opens unchanged.
If THAT weren't enough, for some odd reason, whenever I enter a night
order, I usually lose money. Maybe it's that I am more aggressive at night?
But many times I find I could have gotten a better price the next
day...certainly a better spread.
I mean, why drive everyone nuts at night with a market that barely trades
at this time?
I personally wish that the Globex would go away until it grows up. <g>
Catch 22.
Tom Cathey
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