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<DIV>I'm surprised. I thought all brokers took stops in overnight
currencies.<BR>As John Lothian has already mentioned, just tell the broker you
want to<BR>place a stop in the EFP (Exchange for Physicals) market. You
should specify<BR>whether it's stop bid or stop offer. Here's
how:<BR><BR>Suppose you are short 1 March Yen, and you want a buy stop at 9025
for<BR>protection. Tell the broker:<BR>"I have an EFP order. I
want to BUY 1 March Yen at 9025 stop on the bid."<BR>OR<BR>"I have an
EFP order. I want to BUY 1 March Yen at 9025 stop on the
offer."<BR><BR>Here's the difference: The 9025 buy stop offer will
get triggered first and<BR>will usually result in no slippage. The 9025
buy stop bid is a little<BR>farther away and harder to get hit, but if it does
get triggered, it usually<BR>results in 4 or 5 points slippage under normal
conditions (4 or 5 points is<BR>usually the bid-offer difference under normal
conditions).<BR><BR>On the other hand, if you have a sell stop, a sell stop bid
would get<BR>triggered before a sell stop offer, because a sell stop offer is a
little<BR>farther away.<BR><BR>One problem you may encounter using EFPs:
The highs and lows on GLOBEX<BR>don't have to match the highs and lows in the
EFP market. These are two<BR>separate (but related) markets. I've
had stops get hit in the EFP that<BR>would not have been hit on GLOBEX. So
what I do to avoid that is loosen up<BR>my stops, and for buys, use buy stop
bid, and for sells, use sell stop<BR>offers. It's harder for them to hit
me that way.<BR><BR>Mark Morrison<BR><A
href="mailto:mmorrison@xxxxxxxxxx";>mmorrison@xxxxxxxxxx</A><BR><BR>-----Original
Message-----<BR>From: Ira <<A
href="mailto:ist@xxxxxx";>ist@xxxxxx</A>><BR>To: RealTraders Discussion Group
<<A
href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>><BR>Date:
Friday, February 05, 1999 10:42 AM<BR>Subject: Re: overnight
markets<BR><BR><BR>>My broker doesn't either. There appears to be no
official method of<BR>>placing a stop on the globex or forex markets.
Some firms will take stops<BR>>on a not held basis. I have even seen
messages from traders in this forum<BR>>state that they have a broker that
will take a stop. If I want to trade<BR>>the currencies at night or
overnight I just by a call or put as a safety<BR>>net and that will define my
absolute risk to the penny. It does reduce<BR>>your profit a little, but it
also allows for a good nights sleep. Ira.<BR>><BR>>al neubauer
wrote:<BR>><BR>>> does anyone know a broker(on-line or conventional)
that can place stop<BR>>> stop orders in night currency markets. my
present broker doesnt. i'd<BR>>> like to trade the yen and other currencys
but would like to be have a<BR>>> protective stop in at all
times.<BR>>><BR>>> any help is appreciated.<BR>>> al
neubauer</DIV></BODY></HTML>
</x-html>From ???@??? Fri Feb 05 11:07:50 1999
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Subject: re: intraday $tick
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GUYS
Where I can find intraday $TICK on Internet
Slawek
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