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It is possible that the market was through your stop by the time it got
entered. I do not know how Globex2 handles that. Also, some FCMs make
stops, stop limit orders. That is, if the price goes through your stop
and you cannot get filled within a certain amount of points, the order
is not triggered. So, if you were looking to get short at say 1280 on a
stop, the FCM might have a two point limit. If by the time your order
hit, even if it was already there, the market was trading at 1277, the
order would not get triggered. Once that happens, I do not know how the
computer handles it - if it is spit out, or if it stays there until the
market trades up to at least 1278.
Check with your broker about this and check the time and sales on the
contract. If your broker does not have a Globex2 terminal where he is,
and has to call down to an order desk, it is possible also that the
order did not get in in time.
Good luck!
Steve
---
Steven W. Poser, President
Poser Global Market Strategies Inc.
url: http://www.poserglobal.com
email: swp@xxxxxxxxxxxxxxx
Tel: 201-995-0845
Fax: 201-995-0846
----- Original Message -----
From: Arthur Marcus <rtchoke@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxx>
Sent: Saturday, October 02, 1999 2:07 PM
Subject: Rejected
> 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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