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The real answer is ;
1 If 978 prints and you were working 978.10 the broker owes you a fill, you
can never trade through a bid or offer. Get a new broker.
2 the 978.10 stop can not be executed until the price prints( is traded by
someone else) and by this time the market may be offered there, so you get
the 978 trade ( the next bid) I tell my brokers to print the stop themselves
dont wait until some big local offers the price and prints it. The only way
locals survive now is to manufature an edge, we call it trading the turn. if
you make a market and buy the offer, now you have the edge. You throw out a
high ball - buy the next offer to print it and see if you can set of any
stops- if the broker next to you bids the offer with his stops for size then
you go with it and throw out another high ball - ect. get it. Thats why
stops get slippage.
Tom
PMB
-----Original Message-----
From: Val Clancy <valclancy@xxxxxxxxxxxxx>
To: IdontgetNo@xxxxxxx <IdontgetNo@xxxxxxx>
Cc: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Friday, September 04, 1998 12:35 AM
Subject: Re: S & P Question
>1. There were no offers at 978.10 at the time and the price quoted was
978.00.
>2. There were bids at 978.00 and you got filled.
>
>1. 978.10 - no offers / you bid for 5 = no trade.
>2. 978.00 - your 978.10 sell stop ( turned market order ) / someone's bid
= trade.
> Val.
>
>IdontgetNo@xxxxxxx wrote:
>
>> Why is it that if i'm bidding 978.10 for a 5 lot and we trade 978.00 I
get a
>> nothing done. Why if I was selling 978.10 on a stop I would get filled at
>> 978.00 but try to buy it? No way.
>>
>> Morris
>
>
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