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Ira-, Richard
Good point, I just checked and yes I could have done that, lesson learned.
My broker also confessed that he did not use the cancel replace button which
leaves my stop in until the other one goes in, rather he did a straight
cancel, grrr.
Since I was watching direct trades on commodity trader.net as this was all
happening (my real time feed is well not real time, meaning slow), I was
able to tell him to hit the market button, which saved me rather than for
him to type in a new limit.
I am curious Richard does Best Direct queue stops like IB? Reason I ask is I
saw trades at 1299, 1299.25 etc before it really took off. I am surprised
you were not filled better? Does this mean that even if my stop was in there
I may have seen the same slippage. Cargill does not queue I know that.
don ewers
----- Original Message -----
From: "Ira Tunik" <ist@xxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Thursday, January 04, 2001 11:45 AM
Subject: Re: [Fwd: Re:[RT] Market - OEX astro]
> If you had a stop in that meant that if it was hit you were wrong and the
market
> should continue in that direction. Why cancel first? I always place the
other
> stop in and then cancel. That is if they won't take it as one order. The
one
> order is a cancel/replace that is done at the same time. My theory is
that if
> one stop is hit I am out and if the other stop is hit I will be long and
then I
> can place a stop to exit the long position. Many times I have just
liquidated
> the second stop position, if hit, at a profit and then once again looked
at the
> underlying for the next trade. Everyone's comfort level and style is
different,
> so what fits one does not necessarily fit all. Ira
>
> Don Ewers wrote:
>
> > hans-
> > Cargill is my broker, but that is not the whole story, (I did not want
to
> > belabor the group). My stop was in at 1299.25. The market rallied up to
1299
> > then reversed and went down to 1294.50. I went in to adjust my stop
since if
> > it went back up to 1299.25 I would likely see slippage. Cargill's
system
> > requires you cancel first, we did. Then as the 1298.75 was being entered
the
> > announcement hit, (actually they put it in at 1288.75 and as I was
> > correcting them the announcement hit). Bad luck and some butter fingers
on
> > their part. Still cost me 18 Handles, oh well like I said the short bond
> > calls made up for it not to mention the short stock puts (at least so
far).
> >
> > There was discussion in this group about IB handling of stops. Anyone
have a
> > stop in that was hit during the announcement? Was there slippage?
> > don ewers
> > ----- Original Message -----
> > From: "hans esser" <he96@xxxxxxxxxx>
> > To: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> > Sent: Thursday, January 04, 2001 10:56 AM
> > Subject: Re: [Fwd: Re:[RT] Market - OEX astro]
> >
> > >
> > > Don,
> > > who is your broker ? using TIMBER HIL?
> > >
> > > I use LIND and have NEAR zero slippage on last 20 stops or so.... but
was
> > > not in the market yesterday at the time, as covered shorts with
profits
> > before
> > >
> > > rgds hans
> > >
> > > > -------- Original Message --------
> > > > Subject: Re:[RT] Market - OEX astro
> > > > Date: Thu, 4 Jan 2001 08:08:46 -0600
> > > > From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> > > > Reply-To: realtraders@xxxxxxxxxxx
> > > > To: "Real Traders" <realtraders@xxxxxxxxxxx>
> > > >
> > > > BobR,
> > > > Yes on the short stock puts (some stocks that I am locally aware of
just
> > > > fell too far that day ADCT over 3 points from 18+ at the time I sold
40
> > of
> > > > the Feb 15 puts @$2.25) but I would be remiss to not say I was
lightly
> > short
> > > > only one emini with a 1298.75 BE stop that got filled 18H higher.
> > Fortunately I
> > > > was also short two Feb 106 bond calls so ended up to the plus side.
> > Second time
> > > > that old coot has caught me (last was the fall of 1998).
> > > >
> > > > An excellent example on the bonds of a news reversal trade had one
sold
> > the
> > > > futures as they passed back down through the price they were at
prior to
> > the
> > > > announcement, and subsequent failed follow through rally. don ewers
> > > >
> > >
> > >
> > >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxx
>
>
> To unsubscribe from this group, send an email to:
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>
>
>
>
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