|
PureBytes Links
Trading Reference Links
|
Peter2150@xxxxxxx wrote:
>This is not an issue with CME, but with your broker. Until Globex2 is fired
>up in Sept. the ONLY type of order that can be placed is indeed a Limit
>order. When you place a market order, the broker's terminal operator enters
>it as a limit order, hopefully for rapid execution. If your broker accepts a
>stop order, it isn't entered, but he monitors the market, and when the price
>hits your price, he then enters the order as a limit order to get you out.
>
>This at least is my understanding, both from my broker, and his terminal
>operator.
>
> Pete
>
Pete;
You should know I have just never heard of this before that you can't enter
a market order in any market.
Would you happen to know the thinking behind this and the mini S&P still
can't take stop orders but takes limit orders? If your long and want out of
the market you need to enter the order below the current price? Example
being if the price were 1040.50 you need to place the order at 1039.50 to
be sure to get out.
Robert
|