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> I do not really want to be filled at 96.26 instead of 96.25. I prefer 96.24
> (but no further). Being filled at 96.26 in this kind of situation only
> increases the chance of whipsaws. The whole point of my using SWL is see
> prices TRADE THROUGH.
It just doesn't work that way with normal orders. The only way you could
possibly accomplish what you are trying to do is if you had a good
relationship with your floor broker and gave him discretion to read the
"mood" of the pit and either fill or not fill your order depending on
how the market acts after the stop price is touched.
At the CME, where they do stop limits....
A stop order becomes a market order after the market trades at your stop
price.
A stop limit becomes a limit order (the limit price doesn't have to be
the same as the stop price) after the market trades at your stop price.
Without specific instructions to the contrary, your floor broker would
normally think he was doing a good job if he sold at a higher price than
your limit.
--
Dennis
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