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I don't for a moment disagree with you regarding gunning of stops. I've
watched it happened while day trading the s&p and e-mini countless times -
the very reason I will not enter stops when day trading. It will be a fact
of life as long as the regulators allow a group of insiders to take
advantage of the outsiders. It's dead wrong but I don't know what you or I
are going to do about it. In case some haven't noticed, our congress is
preparing to replace a CFTC commissioner which it considers too active with
a very strong industry insider from the brokerage side of the business.
Would all these order system outages occur constantly month after month if
the industry were properly regulated? The answer is no. Don't get me
started.
Earl
----- Original Message -----
From: Don Roos <roos@xxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Sent: Friday, May 07, 1999 9:31 AM
Subject: Re: Stops/Michael
> <<There is a general tendency once a trader has had stops hit a few
> times to blame the "insiders" rather than to blame the choice of stop
> placement.>>
>
> Just because I'm paranoid, doesn't mean they're not after me, Earl.
>
> I would give the floor trading piranha no such slack in blaming the
> victim. There are various methods of stop placement, but they are
> hardly more than an educated guess. If a big local decides to run the
> stops during a quiet time, he does. Does that make it right. NO! One
> would say, "it's part of the game, live with it" and I would say, I
> do. However, it does not make this malicious activity right. If the
> locals do not control their own, they will have controls placed upon
> them, or more likely, a trading " island" for futures will form like in
> Nasdaq level II stocks.
>
> Don
>
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