|
PureBytes Links
Trading Reference Links
|
Regarding the emini-sp spike down, I must apologize for the golbex traders
who were asleep at the wheel at that time (myself included I suppose)..
There were obviously very few bids in the emini at the time and the stops
were not filled appropriately. The fills were out of "range" , were
challenged, and were busted as I recall.
I think a 5 lot set off the drop. At least this is my recollection. A
horrible fill can be challenged as being "out of range". Locals try to have
bids and offers in the market a reasonable levels, but with the recent
volatility, it is becoming harder and harder to determine what is
reasonable...
One possibility for traders is to use stops with limits, with whatever limit
you feel reasonable. In the above mentioned case, busting the trade takes
time, up to 15 minutes or so, and that period of uncertainty is troubling at
best. I often wonder if a program could be added to have stops offer down
the market in step by step fashion to give locals time to place bids, but
then of course locals could race the orders, creating another possible
problem.
The search for a perfect system goes on.
Best,
Michael
|