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Hello Group,
I am new to trading and was hoping I might be able
to draw on the experience of some of the veterans in this group for some
guidance. Here is my situation: The markets I trade are thinly traded. To
prevent excess slippage I would like to confine my entry to a specific
price. When the market rallies to a specific price level I would like to buy
at that price. I can't use a buy limit order, because my broker's trading
platform interprets these as 'limit or better' and I will get filled
automatically when price is below this entry level. If I use a buy-stop I
risk some serious slippage when that level is hit. I could use a stop-limit
order, but then my order will be at the back of the line when that price
level is hit. What type of order I should be using? I should also mention
that this order will be placed on globex. Any help would be greatly
appreciated.
Best regards,
Jason.
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