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Old Apr 25th, 2012, 11:56 AM   #13
Crispy
 
 
Join Date: Jul 2009
Posts: 898
Quote:
Quote from syswizard:

Definitely doable. However, you are aware that locally, there is no stoplimit. If last print is 15.50 and you are sell stop 15, if it goes quickly to 13, that's your fill price.
Expect a lot of "slippage" like this. Whereas with Server or Exchange stops, you might be filled earlier like at 14 all depending on your position in the queue at that price level.
Got it ?
Yeah , got it..best to just tick F it and watch closely instead. Oh well it was worth a shot at saving my eyeballs from extra screen time.

Thanks for all replies!
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Old Apr 25th, 2012, 12:05 PM   #14
Rodney King
 
 
Join Date: Apr 2006
Posts: 1,778
If you're trying to manage an options book via stoploss orders, http://bit.ly/lwpXnD
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Old Apr 25th, 2012, 12:11 PM   #15
Crispy
 
 
Join Date: Jul 2009
Posts: 898
Quote:
Quote from Rodney King:

If you're trying to manage an options book via stoploss orders, http://bit.ly/lwpXnD
LOL...nice pic

No book though....I day trade ES options. Thats all I trade in fact. My stops are always mental, thus the entire exchange about simply automating a bid hitting function when it goes my stop price.

My eyes just need a rest...lol
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Old Apr 27th, 2012, 09:03 AM   #16
syswizard
 
 
Join Date: Jun 2004
Location: PA
Posts: 3,982
Quote:
Quote from Crispy:


No book though....I day trade ES options. Thats all I trade in fact.

How is this better than trading the futures ? Options tend to be less liquid and wider spreads, no ?
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Old Apr 27th, 2012, 09:26 AM   #17
Crispy
 
 
Join Date: Jul 2009
Posts: 898
Quote:
Quote from syswizard:

How is this better than trading the futures ? Options tend to be less liquid and wider spreads, no ?
Not better, just slower paced. .50 delta ATM allows me wiggle room for certain setups.

Spreads are only 1/2 a buck typically to pay up, and usually can get them mid point or better as long as they are not trending too strong.

I will take the underlying sometimes, usually pre-mkt as the spreads are wider then.
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