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What line? You said you're trading thinly traded markets. By definition,
there is no line.
Also, there is an inherent contradiction in what you said you wanted. Do
you want to be first in line, getting hit for slippage, or do you want
to miss out when the market moves fast? There is no way to be both.
BTW, there is a third choice -- watch the market and enter a buy order
when it hits your level...
Regards
DanG
Jason Armstrong 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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