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Lawrence E. Lewis wrote:
>
> At 09:48 AM 9/18/97 -0400, TWA7663@xxxxxxx wrote:
> >I have seen several posts on this list say that brokers are not accepting
> >stops on the Mini. Lind-Waldock is advertising that they are accepting
> >stops. Has anyone heard of other discount brokers that are accepting stops?
> >
> >Russ
> >
>
> Well,
>
> I finished my first e-mini trade today. Not only can you not set stops, but
> Ira Epstein says you can't even do market orders. They required me to give
> them a limit price.
I rarely trade stock indices but Jack Carl told me that stops function
in an unusual fashion in the S&P e-mini. A stop order can be set but
once triggerred if it is not filled within four price tics (i.e., 1.00)
then it becomes a limit order. I do not know if this is how Globex is
treating it, or if Globex won't take stops in the e-mini and this is how
JC is handling the orders. (Normally Globex won't take stops.)
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