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e-trading is a different beast.
i was talking about phone-in orders to the pit. yeah, i know, how archaic
:)) i find mit orders very timely and better than stops in priority of execution.
just my observations over than years...
TJ
At Tue, 16 Nov 1999 04:20:39 -0600, Terry Wyss <tlwyss@xxxxxxxxxxx> wrote:
>If I enter an electronic S&P limit order using LFG's
>Leoweb, and I am filled, I get my fill price back right
>away, most often in a few seconds. If I place an MIT
>order instead, [which I most often would prefer to do]
>and it is hit, I won't get a fill back for as many as
>20 min, and never yet timely. I thought this was
>probably an intentional happening as the pit is reputed
>to hate MIT orders. I now only use limit and stop
>orders since I only trade electronically, finding the
>added delay of using an order desk disconcerting, and
>electronic MIT fills from LFG untenable.
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