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Steve --
No, I don't jest -- I do this for many of my clients. The fills are usually
very good, sometimes better than the regular S&P stop price. Occasionally I
do get a bad fill, but what really matters is that we avoid stops getting
hit that shouldn't be hit because the E-mini went crazy but the regular S&P
didn't.
How do I do it? I use CQG for quotes (the best available), price alerts,
and electronic order entry. I sit at my desk 99% of the trading day, and
wait with my finger on the trigger when a stop gets close. If there is a
real move underway in the S&P, I can usually beat the majority of E-mini
traders who have slower quotes and/or a slower order entry method.
Mark Morrison
Professional Market Brokerage, Inc.
Chicago, Illinois
> -----Original Message-----
> From: owner-realtraders@xxxxxxxxxxxx
> [mailto:owner-realtraders@xxxxxxxxxxxx]On Behalf Of Steve Karnish
> Sent: Wednesday, July 28, 1999 3:35 PM
> To: Mark Morrison; mguess; RealTraders
> Subject: Re: Mini/SP discrepancy
>
>
> "Another alternative is to ask your broker to hold your stop orders and
> wait for the regular S&P to hit the price before executing a market order
> in the E-mini."
>
> Certainly you jest?! Please explain how waiting for the regular
> S&P to hit
> a price would prevent an ugly fill in the mini. Most brokers won't think
> of taking the contingent order you described. Do you stare at the screen
> and "time stamp" the ticket the moment the regular S&P hits the price? I
> find it hard to take orders, enter orders and chew gum at the
> same time ...
> without having to monitor every tick. I guess I'm confused about the
> logistics.
>
> Steve Karnish
> CCT
>
>
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