I would think it's just a program the broker has and when it gets triggered then the trade gets put in. Not sure though.
yep - its only your broker that does this though. for $69.99 pcm, he supplies a real time feed of where all his suckers have placed their stops. its a life saver! nothing like selling a few mil shares to bully the market down, just so i can cover with some pikers 100 lot.
Yes, once your order got activated. Before that just your Broker who can see it or exactly if you prefer your Broker's computer, not your Broker's personnel. Market Maker has no interest to see trailing stops order in the queue. Any expert who can confirm the above statement is not true? I'm interest to know as well.
To clarify my question, I'm not talking about putting in a normal stop, I know these can be seen. I'm talking about some brokers have a feature now where you set a trailing stop, for example .50 cents under the rising stock price. Basically set it and forget it, check if it got filled at the end of day.
If etrade is the gaurdian of your trailing stop it'll get triggered as if you placed a market order once it's within .10.