I've been trading using IB simulated stop market orders on GLOBEX (mostly ER2 and EMD) and I was thinking that I might get better fills by submitting stop limit orders with a limit price wide enough to essentially be a market order (after reading their website apparently that's what globex implements anyway). The thought would be that since the order is native on globex my order would be sitting on their servers, so once it becomes live my order would be at the market, whereas with the simulated stop it's sitting on the IB servers, and I lose the time it takes to transmit the order to globex (probably less than a second, but that can be 1-2 ticks or even more in a fast market). Am I wrong to expect less slippage by using native orders? SSB
I guess the fear that somehow in a very fast market (when I can't watch of course) my stop limit will end up unfilled because of a huge move and I'll end up wiped out. Although I guess it's not too likely to move that much between 930-4 eastern, which is when I trade (even during fed days it doesn't move more than 1-2 points at a clip). SSB