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Sorry for the redundancy, don't know that it matters, but I meant to
send this to the main list., not to Mark's version.
Earl,
What percentage of the time with the Mini SP do you use limits, and
stop limits, and how wide a "collar" do you typically use on a stop
limit on same?
Thanks!
Eliot
>No, stop limit order has collar (limit) set by trader while market order is
>converted to a limit which is calculated at time of order receipt as a fixed
>maximum offset from the last trade. Stop order also has a collar (limit)
>which is calculated as maximum fixed offset at time stop is triggered.
>
>I don't know what the current collar is but at one time it was 30 handles.
>Theoretically in a fast and volatile market, a stop could be converted to a
>limit order which has a limit inside of the current price e.g. sell stop
>order at 1200 triggered and sent to Globex as a limit order of 1170 but a
>fast market might take price to 1160 before the limit order could be
>executed due to order queuing - the limit order would not be executed below
>1170. A sell stop limit order entered by trader at 1200 stop with 1165 limit
>would have a far higher chance of being executed and filled at a price
>closer to 1200.
>
>Earl
>
>----- Original Message -----
>From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
>To: <realtraders@xxxxxxxxxxxxxxx>
>Sent: Wednesday, June 27, 2001 8:18 AM
>Subject: Re: [RT] Fw: FED ANNOUNCEMENT WARNING
>
>
>> Earl,
>>
>> A stop-limit order has the same collar, finally, as a mkt order?
>>
>> Essentially, just bracketing the spread with limit orders sets your own
>> collar and gets the fastest access into the cue?
>>
>> Ex: bid 1223 oft 1224
>>
>> buy limit 1225 same as mkt with faster processing?
>> sell limit 1222 ditto
>>
>> still learning,
>>
>> Michael
>>
>>
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>>
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>>
>>
>
>
>To unsubscribe from this group, send an email to:
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>
>
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--
^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Eliot Kaplan
20211 Croydon Lane
Topanga, CA 90290
Voice: 310.455.3810
Fax: 310.455.3085
email; eliot@xxxxxxx
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