Any futures broker can attach an stop loss to the main order for PIT contracts ?

Discussion in 'Retail Brokers' started by trader27, Mar 13, 2009.

  1. trader27


    Checked differents brokers, but no-one seems to automaticly attach an stop loss order to the main order for PIT contracts.
    Interactive Brokers bracked orders seems valid but they only supports electronic contracts.

    Seems they force us to trade without stops.

    Not sure if platforms as NinjaTrader, CQG Trader, J-Trader, etc can simulate this order as well my computer remains
    online for all the trading session.

    Please advice.
  2. TraDaToR


    I don't know why they don't allow it, but sending stop orders to the pit in advance would lead to those stops being "magically" reached if your size is meaningful... Don't underestimate the greed there.
  3. The way I read this for IB it they would simulate it on their server and send a market order when the stop conditions are met. I did not find any restriction for pit traded.
    I think the concept of a market order in pit trading is just not making any sense. You outcry, "who can sell me a contract at any price, any?"

    Stop Orders: Stop orders are not supported by GLOBEX. Interactive Brokers provides customers with simulated stop orders. Simulated stop orders will only trigger during regular trading hours unless configured by the customer. Regular trading hours are from 9:30 a.m. to 4:00 p.m. New York time. In order to be able to place stop orders outside of regular trading hours, go to the TWS, select Configure >> Order >> Stop Trigger Method. Under "GLOBEX Orders Time Restriction" you may choose to allow stop orders to trigger outside of regular trading hours.
  4. MGJ


    Instead you could cry out "I want to trade a ten-lot of the October!!! Who's got a bid and an offer??" Then you listen, pause a half-second, bite your lip for dramatic effect as you pretend to consider the prices, and then you accept the offer.