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Yesterday morning I placed an order to sell the e-mini. About a minute
later price zoomed through my stop and I thought I was short. Several
minutes later, with price still sliding down, I exited half my
position. A few minutes later my broker called and said that my
original sell order had been "rejected." I was not short; in fact at
that moment I was now long. I exited with a small loss. What does
"rejected" mean?
I thought if price went through your stop you were filled at the
market. Could it be that my order did not reach the floor in time,
since I only called it in about a minute before it was hit? If this is
so, can anyone tell me what is an acceptable amount of time for orders
to reach the floor once they are called in? Is my broker slow? And how
soon should I hear back from my broker/the floor that my order is
"rejected"?
Any comments or feedback appreciated. Thanks.
Arthur
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