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On Fri, 13 Aug 1999 08:59:12 -0700
Neal Hughes <neal@xxxxxxxxxxxxx> wrote:
>
> It sounds like you are using a LIMIT order, rather than a STOP.
> A regular STOP turns into a market order when the price is touched,
> not so with a LIMIT order.
>
> -Neal.
>
No. I'm trying to use a stop. Either I am wrong (quite possible with
my limited expereience) or Ameritrade has redefined buy stops. They
told me on the phone that my stop must be higher than the market open or
the order will be cancelled. They told me essentially the same thing by
mail. And yesterday they cancelled 3 pretty good winners.
My question now is, do other online brokers have this rule? I recently
ducked a huge loss on FLEX that closed strong, open dowm 5 and plumetted
>from there. Every system I've tested does better with buy stops and
I'll change brokers in a moment to get what thought was a normal order.
Thanks for your reply.
--
Brad
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