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Globex is ideal for what you want to do! Use a stop limit order with the
stop price being the trigger and the limit price setting your maximum
slippage. Rather than being at the back of the line, you will be at the very
front.
Example: you want to go long the emini at 900 and pay no more than 900.50,
enter Buy Stop Limit 900.00 900.50.
Earl
----- Original Message -----
From: "Jason Armstrong" <jarmstrong444@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, February 26, 2003 10:29 AM
Subject: [RT] What type of order should I use?
> 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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>
>
>
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>
>
>
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