|
PureBytes Links
Trading Reference Links
|
In a message dated 97-11-08 20:31:33 EST, cpbow@xxxxxxxxxxxxx writes:
> I don't know about market orders, but back when the emini started, I
> asked Jack Carl if stops were taken in the emini. My broker said yes,
> but that if the price went more than 4 tics or points (can't remember if
> he was saying tics or bigpoints), then it became a limit order. Of
> course this conversation was about stops, not mkt orders. I can't
> contribute more because I don't trade stk indices, but I thought I'd
> mention it since it was from Jack Carl. They didn't just make this up
> to cover the recent volatility.
>
Hate to say it but this doesn't make a bit of sense. First Globex perse
doesn't take stops. Jack Carl might take them and they are essentially
watching for you, and then and executing the order for you. As for a stop
becoming a limit after 4 whatever that makes no sense. If I am long at 950
and want a sell stop at 948 fine. But if it gets to 947 before they can fill
it then it would become a sell one at 947 or better. Might never be filled.
If thats what Jack Carl is really doing don't trade with them.
|