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Many futures markets allow the "unable" condition. Especially the
COMEX?NYMEX markets.....you are correct that an unable means the stop order
is worthless. Where unables are common consider trading the futures option
instead. You avoid accidental suicide.
Pete Hallock wrote:
> Its always been my impression that "stop" orders automatically become
> "market" orders once your price is hit, but apparently this isn't the
> case because sometimes they come back as "unable."
>
> Isn't a market order like saying GET ME IN/OUT REGARDLESS OF PRICE AND
> AS SOON AS POSSIBLE -DO IT!?
>
> If this is true, then apparently a stop order when hit only becomes a
> market order for an instant and then vanishes. What's going on here?
> Is it a market order or isn't it?
>
> Pete Hallock
> Marion, Pa.
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