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The only time I've had an order rejected was if the market had already
moved well past my stop as it was hitting the actual order desk in chicago
<i>behind </i>my broker. The speed at which you learn of this
rejection is a function of the care and service at the other end, and the
volume those persons are dealing with at that moment. I learned a
simple trick to prevent this from happening again, but it has it's risks
in the price you might actually be executed at. I add the specification
to my order "through it, do it". Which means, don't send it
back if the market has already moved through my stop when the order arrives,
and execute my order at the market, with my acknowledgment that the fill
might suck.
<p>Arthur Marcus wrote:
<blockquote TYPE=CITE>Yesterday morning I placed an order to sell the e-mini.
About a minute
<br>later price zoomed through my stop and I thought I was short.
Several
<br>minutes later, with price still sliding down, I exited half my
<br>position. A few minutes later my broker called and said that
my
<br>original sell order had been "rejected." I was not short; in
fact at
<br>that moment I was now long. I exited with a small loss.
What does
<br>"rejected" mean?
<p>I thought if price went through your stop you were filled at the
<br>market. Could it be that my order did not reach the floor in
time,
<br>since I only called it in about a minute before it was hit? If
this is
<br>so, can anyone tell me what is an acceptable amount of time for orders
<br>to reach the floor once they are called in? Is my broker slow?
And how
<br>soon should I hear back from my broker/the floor that my order is
<br>"rejected"?
<p>Any comments or feedback appreciated. Thanks.
<p>Arthur</blockquote>
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</x-html>From ???@??? Sat Oct 02 12:52:26 1999
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From: "charleydan" <charleydan1@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxx>
References: <bdbf9a9b.252792b9@xxxxxxx>
Subject: Re: Robustness
Date: Sat, 2 Oct 1999 13:24:35 -0600
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Jerry---
I am like you in that I'm always looking for new ways, we have come a long
ways with computers, I remember the only info was thru your broker and
charts always a few days old.
I don't quite agree with your statement below that one system cannot produce
the same results in all commodities or stocks. My findings have been and
they agree with a third generation trader Nick VanNice (Trade World 2000)
http://tradeworld2000.com/. Nick uses moving averages to tell the trend.
I believe we try to put trend in commodities that are consolidating and that
is when the system fails. On trend markets I use moving average and slow
stockastics, but in all other markets I use Expotential Moving Average and
do hand trades, thumb trades and etc. as described by Linda Raschke & Larry
Connors in "Street Smarts" http://www.mrci.com/lbr/index.htm Linda's
speciality is swing trading which I think is more apt for non-trending
markets which is most of the time. These two systems do not recognize
volume, patterns and etc. But these traders like myself still look at and
talk about these things, but have little to do with our trading style.
Probably this is where Ken Roberts is right, "All this jargon is for picking
up women at the bar" or impressing people.
Yes, commodities do have there own personalities, such as why do S&P's go up
during lunch, and why does the British Pound lead the S&P's in market
movement. And they all have there quirks, in this manner, or why do hogs
and cattle go up in last of Sept and first of Oct(farmers harvest syndrome),
and many more like this. And these can be traded quirks can be traded for
that market. But I believe you need to define trending markets and
non-trending properly and only need a trading style for each.
That is why most software trading systems don't work because they don't
define this issue first(trend versus non-trending). Secondly, software
developers like most traders think we have to be in a particular commodity
or stock all the time. If you hold it for tax purposes you diffidently need
to determine long term trend. I believe a good system will hold well thru
all commodities and stocks, if we don't try to fine tune it to satisfy our
emotions or ego.
Happy Trading
charlyedan1@xxxxxxx
----- Original Message -----
From: <Jdonato98@xxxxxxx>
To: <heicz@xxxxxxxxx>; <realtraders@xxxxxxxxxxxx>
Sent: Saturday, October 02, 1999 10:54 AM
Subject: Re: Robustness
> Henry,
> I don't believe any one system can produce the same results in all
> commodities.
> Each commodity has it's own personality ( if that term fits), due to
volume,
> volatility,
> seasonality and other significant trading patterns.
> Indexes for example, S&P, NYFE, DJIA and others react to equity patterns.
> Grains, Livestock, Softs react to weather patterns, export, and rumors.
> Same issue for the energies.
> But I applaud your efforts and wish you luck in your endeavors.
> If I can ever be of assistance to you, feel free to ask.
> I have been trading for over 13 years, still use the old moving average
> system, and looking to learn something new.
>
> All the Best,
> Jerry Donato
>
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