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Eliot,
I almost always fire off two orders for entry: limit order to sell/buy and
stop order to buy/sell thus assuring that I have a matching stop with every
entry. Once price moves my way, I typically fire off a limit order to
buy/sell at my target and begin adjusting my stop. So the short answer is
that I rarely use stop with limit orders although I probably should. That
said, I am rarely in the market at times of high volatility and news
announcements and when I am, I use stop with limit orders e.g. if I were
carrying a position into the Fed announcement I would use a stop with 30
handle limit.
Earl
----- Original Message -----
From: "Eliot Kaplan" <eliot@xxxxxxx>
To: "RealTraders Mail List" <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, June 27, 2001 9:29 AM
Subject: Re: [RT] Fw: FED ANNOUNCEMENT WARNING
> 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
> >>
> >>
> >> To unsubscribe from this group, send an email to:
> >> realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >>
> >>
> >>
> >> Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >>
> >>
> >>
> >
> >
> >To unsubscribe from this group, send an email to:
> >realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> >Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
> --
> ^^^^^^^^^^^^^^^^^^^^^^^^^^^^
> Eliot Kaplan
> 20211 Croydon Lane
> Topanga, CA 90290
> Voice: 310.455.3810
> Fax: 310.455.3085
> email; eliot@xxxxxxx
> web: www.isu.com
>
>
> To unsubscribe from this group, send an email to:
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>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
>
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