|
PureBytes Links
Trading Reference Links
|
Pardon me guys, as am an electronic trading system user. I can't/don't
see how we
could ever know if an order is a stop order or not, even if it is posted
in the system.
Our keyboard puncher just post the order in his terminal. Not even he
knows whether
that specific client is putting that order as a stop (to protect his
capital), or cover his
positions or just simple buying of longs. No one can make/knows the
difference except only the clients and he can call any time to cancel
it. Sometimes our clients posting of the buying is a bit further than
the current bid, is because they are behaviorally cheapskates or chicken
or because of the technical method told them to buy there. As brokers,
we don't know/we don't care why they placed it there. All we see is a
bunch of bids and their quantities at three different price levels. The
only way/reason I can think of, whether that order is a stop or not is
through my own technical studies and a big bunch of orders are placed
there by all the different brokers/terminals( all I get is just
confirmation of my
studies,thats all). And you have to know what to do to try to make money
out of that
information!!! Usually its more of balls than brains.
Guys, its better trying to find a way to make money through other means
than trying to
see if there's an edge there somewhere or you might end up (stoop so
low) trying to find
a way like how the soon to be extinct floor traders gun for the stops.
And their methods don't need any computer/software to do thart, just a
friendly wink to fellow trader/brokers can do that!!!
James F. Mazzulla wrote:
> Chris wrote:
> >Stop orders on the other hand, should never be shown...
>
> They aren't......limit orders are.
|