Entering a fast rally at markets opening - stop limit orders being rejected

Discussion in 'Order Execution' started by novicetrader69, Aug 28, 2018.

  1. dozu888

    dozu888

    just buy the market... don't be cheap.
     
    #11     Aug 28, 2018
  2. You mean using a stop market order ?
    Wouldn't it be risky?

    nt
     
    Last edited: Aug 28, 2018
    #12     Aug 28, 2018
  3. You already got 2 great tips from the nice folks here:
    1. buy market, cause, you seem unaware of the perils of the stop limit in the volatile markets. (the limit part can cause you a lotta pain)
    2. get a broker that provides you with better order management options such as hotkeys and direct routing,
    good luck!
     
    #13     Aug 28, 2018
  4. @constitutionman maybe it's as you say, maybe I might not have the experience or understanding of certain processes to recognize a valid advice. For example, you talk of "a lotta pain"....how about providing more context or developing somewhat more your contribution so I might be sure I got what you mean?

    nt
     
    #14     Aug 29, 2018
  5. Robert Morse

    Robert Morse Sponsor

    novicetrader69,

    On Lightspeed Trader, this would be an example of a hotkey close out a full short position or buy 500 to open of any stock in the focus window at the market when the price hits $0.50 above the previous close (You can also use bid, ask or 8 other metrics) . It will create a pop up where you can change the price or share amount before sending. This is a server side STOP order if the default route is used.

    upload_2018-8-29_5-22-33.png


    upload_2018-8-29_5-25-50.png
     
    #15     Aug 29, 2018
  6. @Robert Morse thank you so much, it's enlightening seeing how much more feature rich is a professional trading platform :thumbsup:

    What is the minimum deposit to open an account?


    nt
     
    #16     Aug 29, 2018
  7. Robert Morse

    Robert Morse Sponsor

    $25,000 USD.
     
    #17     Aug 29, 2018
  8. 2rosy

    2rosy

    are you placing 2 separate orders?
     
    #18     Aug 29, 2018
  9. No, a single one. Stop limit order with a buy price higher than the stop/trigger price.

    Anyhow order rejection I believe is due to the fact that there is a gap with an open price simply higher than my buy price.

    nt
     
    #19     Aug 29, 2018