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To be clear, when referring to Stop Limit orders, two prices should be
specified: Stop price which triggers the order and Limit price which
specifies the limit for execution.
If your order is 10.00/10.00 and price passes from 10.02 to 9.99 in a single
trade, your order is triggered but will not be filled until price trades at
10.00 or higher. I would not hesitate to use a 10.00/10.00 for entry but I
would use either a Stop Limit with very wide spread or a straight Stop. The
choice depends upon order handling at the exchange being traded.
Earl
----- Original Message -----
From: "ketayun" <ketayun@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, May 02, 2003 11:00 AM
Subject: Re: [RT] Stop Orders
>
> > For US equity, options, and futures markets, stop orders will only be
> > elected by prices posted during normal NYSE trading hours (9:30 a.m.
> > to 4 p.m. New York Time, Monday to Friday). In addition for NYSE
> > listed stock Best Execution stop orders, the order will not be elected
> > until the NYSE displays a BBO.
> >
>
> So, if you have a sell stop limit at $10.00, and bid passes from $ 10.02
> to $9.99, does your stop get triggered?
>
>
>
>
>
>
>
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