|
PureBytes Links
Trading Reference Links
|
Sorry, missed the earlier question. No, the Stop Loss order is a native
Globex order type while Stop orders are simulated on broker computers.
Earl
----- Original Message -----
From: "splphil" <phil@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, March 07, 2003 5:22 AM
Subject: [RT] Re: What type of order should I use?
> I'd presume the reason would be that you'd get some slippage with
> stop orders, even in the minis...
>
> Phil
> www.sp-levels.com
>
> --- In realtraders@xxxxxxxxxxxxxxx, "M. Simms" <prosys@xxxx> wrote:
> > Earl - I am curious as to why you don't use STOP orders ?
> > Is it because of the problem reported by IB customers whereby those
> orders
> > are "parked" and not placed in the CME electronic order book until
> they
> > become market orders ?
> > All of my systems testing normally uses STOP orders, rarely limit
> orders,
> > and never STOP LIMIT orders since Tradestation does not support
> that order
> > type.
> > > -----Original Message-----
> > > From: EarlA [mailto:earl.a@x...]
> > > Sent: Sunday, March 02, 2003 5:17 PM
> > > To: realtraders@xxxxxxxxxxxxxxx
> > > Subject: Re: [RT] Re: What type of order should I use?
> > >
> > >
> > > Some years ago (before the emini was as heavily traded as it is
> > > now), I did
> > > enough analysis work between the big SP and emini to convince me
> > > that total
> > > commissions, spread, and slippage were lower on 5 emini than 1 SP
> under
> > > normal market conditions. In years of trading thousands of emini
> > > contracts,
> > > I have rarely used anything other than stop limit and limit
> > > orders to enter,
> > > and stop limit and market orders to exit. I can count on the
> > > fingers of one
> > > hand the number of trades I have missed due to using limit orders.
> > >
> > > I suppose, if one is trading breakouts and/or chasing ticks, one
> > > might have
> > > to use market orders. However, even breakouts can be successfully
> traded
> > > with stop limit orders. If one is trading retracements and
> projections
> > > and/or higher time frames, one can readily take their time with
> limit and
> > > stop orders without missing trades.
> > >
> > > If one wants to use another index to trade the emini, one can
> still park
> > > limit orders and hit Transmit when the primary index hits the
> number. One
> > > must, of course, have timely price data.
> > >
> > > Earl
> > >
> > > ----- Original Message -----
> > > From: <phil@xxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Sunday, March 02, 2003 2:57 PM
> > > Subject: [RT] Re: What type of order should I use?
> > >
> > >
> > > > The question is one that can easily be asked in liquid markets
> as
> > > > well. My methodology was created specifically fortrading the
> big S&P,
> > > > with trades entered on a stop. Trying to trade it with minis
> gives
> > > > the same invariable question. The minis are known for
> overshooting
> > > > the big S&P, thereby possible giving false entry and exit
> signals. So
> > > > what do you do? Enter on a stop thats 2 ticks further? Adds up
> at the
> > > > end of the month. Enter on a limit? You might miss a big move.
> Most
> > > > of my subscribers that trade the e-minis have taken to simply
> enter a
> > > > market order when they see the Big S&P hit its entry stop...
> > > >
> > > > All the best,
> > > >
> > > > Phil
> > > > www.sp-levels.com
> > > >
> > > > --- 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.
> > > >
> > > >
> > > > 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/
> > >
> > >
>
>
> 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/
|