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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.
Why is that? Actually stop limits may be "in front" of regular
stops depending on your broker / market.
BW
--- In realtraders@xxxxxxxxxxxxxxx, "Jason Armstrong"
<jarmstrong444@xxxx> wrote:
> 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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