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> What about if you have a system ( like something based on pivots) running
> on daily bars that places an order during the trading day, not based on the
> previous trading day, and its stop is hit?
The system can't place a stop order during the day on daily bars. It
only places the order at the end of the day to be executed tomorrow. If
you need to place orders before the end of the day, you need shorter
intraday bars.
Summary:
All orders placed on the close of the bar.
Buy/sell on close executed immediately on the close of this bar.
Buy/sell at market executed on the open of the next bar.
Buy/sell at xx stop active on the next bar and filled mid-bar if the
price is hit.
Buy/sell at xx limit active on the next bar and filled mid-bar if the
price is hit.
--
Dennis
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