Re: Orders : Cancel - Replace (Don't do it)

[Gary Fritz <fritz@xxxxxxxx>]

I'd like to clarify something.  I have the impression that Tim is
a floor broker at the MGEX or one of the other Midwest grain markets --
correct?

Question:  is the by-hand nature of handling orders like this also
a problem at the CME?  I *think* that the CME is a lot more automated,
and C/R's don't cause the brokers too much consternation.  Certainly
the CUBS terminals are supposed to automate and simplify a lot of this
kind of drudgery.

So, do brokers on the Merc get testy (and "forget" to get you good fills)
if you use frequent C/R's?  Is there any difference between someone who
and someone who's moving stops up to protect profits during an open trade?
I guess the brokers could tell the difference by noticing which way
the stops get moved, but do they consider them equally annoying and
equally deserving of retribution?

Related question:  Pete mentioned the dangers of straight-cxling a stop
instead of doing a C/R.  But I have the impression that a C/R is much
slower than doing a simple market order, even with the Merc's automation.
Question:  in the S&P pit, how much difference is there in speed 
of execution between doing a C/R and doing a simple market order?  
What if you do the market order AND tell them to also cancel the 
previous order, without doing the C/R?  (I know it's riskier, 
I'm just wondering how much difference it makes.)

Thanks,
Gary