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Stops on the e-mini are available for the entire time the market is open.
There is a pilot program started a couple of months back whereby stops were
working on a separate server from Globex and would be automatically entered as
market orders when the stop price traded. They work better during the day
when there are plenty of trader constantly entering orders, than in the middle
of the night when the market can find some air pockets. You might want to
talk with your broker and make sure your clearing firm is participating in the
pilot program (I don't know if it has been expanded to all clearing firms
yet). BTW, you can't cancel/replace a stop to a market order like you can
cancel/replace a limit to a market order. You must cancel the stop, then
enter the market order in two separate actions.
Regards,
John J. Lothian
Disclosure: Futures trading involves financial risk, lots of it!
In a message dated 8/27/98 10:25:13 PM Central Daylight Time, swp@xxxxxxxxxx
writes:
<< I believe that stops are possible on the emini contract 24hours. Of
course, that raises your brokerage fees by 400%. I know they are
possible during the day (I have done it and been stopped) and since the
emini is always on globex, it prob is okay at night to have stops too.
Steve Poser >>
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