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At 05:43 PM 08/13/1999 +0200, you wrote:
>> I'm a position trader, using Ameritrade. I frequently place my orders in
>> the early morning with a buy stop a bit above the current close.
>>
>> Recently I've had several orders cancelled. Ameritrade has told me that
>> buy stops must be placed above the current price
>
>thats what you do at the time
>
>> and the price has moved
>> above my stop before the 9:30 AM opening..
>
>by definition a market that trades HIGHER than a BUY STOP turns
>that into a MARKET BUY order - and herr in my believe should be
>filled first thing on the open.
****Right you are.
>> Is there any way around this problem other than watching the open and
>> deceiding from there? Do other online brokers use the current
>> (after-hours) price rather than the "official" close?
>
>cant comment
>
>> Along this line, what will us poor end-of-day traders do when 24 hour
>> trading srtikes and there is no closing price?
>
>the same as FOREX traders do around the world since many years - just
>keep trading without an EOD price :-)
>
>rgds hans
>
>
>
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