A couple of questions

Discussion in 'Trading Software' started by billsafari, Sep 18, 2011.

  1. If I placed a 2 contract trade(limit order) and both were filled at different prices would I be charged two commissions? A rep at Global futures told me I would. So technically I could have up to 4 commisions round trip? If this is the case, it would seem in someones best interest(other than mine) to make sure orders are all filled seperately to achieve more revenue.

    Also, I am using NT7 and read that if I have a position with a stop losss placed(ATM) and I lose my internet connection I have to call in to close out because the order is on my computer and not on the exchange? I also read this is not the case, that the stop loss is with the exchange. However, with a OCO order if one leg executes one would have to call in to cancel the other order if connection was lost.

    Will someone chyme in on this for me please? Especially about the stop loss orders (ATM).

    Thank you
     
  2. rmorse

    rmorse ET Sponsor

    Most futures brokers charge per contact commissions. All Exchanges charge per contract clearance. The only saving you'd receive by placing larger orders is if your broker charges a ticket charge or minimum charge per order. That's not common. Ten orders to buy one contract or one order to buy ten contracts should cost the same.
     
  3. When I place an order using NT 7, with stops of course, as all orders should go in, I can see in IB that if the order is not filled the order for entry is placed without stops.

    However, if the order is filled, the stops will be visible in IB.

    Telling me the danger is really on unfilled orders that were sent by NT to the broker.

    FoN