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I'm using Trade Navigator (Genesis) for my order entry on the mini
indexes listed at the CME. I've also used Ninja Trader, Trade Maven
and Strategy Runner.
It seems to me that "once upon a time" the Merc allowed Stop Limit
orders to be placed for entries and that is not now the case.
For example:
If I wanted to Buy above the market on a Stop Limit order, it used to
be that I could park my order a tick above a price bar and when price
traded through that order (since it was limit-based) I'd get my
guaranteed fill with no slippage (if I'd specified that). That way I
could control my slippage/risk.
Now I've been told that I can't do that. I can only buy on a Stop
order and hope I don't get slipped. i don't use Market orders to
"chase" the market.
I understand and accept that my protective stop can have slippage. I
also know I can exit at a profit on a limit order (if traded through).
Am I missing something as far as being able to enter on a Stop Limit
to accomplish what I've described above?
Thanx,
Michael
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