The only ECN that i know of that accepts stop and stop-limit orders is ARCA. These orders are held on the ARCA server. In that case,how would market makers see these orders ?
I've heard that too, that stop orders for NASDAQ are held at the broker until they're triggered. There is a strategy for NYSE here somewhere. The two markets ARE different, as has been pointed out.
One of the concerns we have about ARCA (part of our "Redi family") is that they do in fact have traders who use the ARCA "give up" on the ECN's. This came to light a while back when we began to experience bids and offers simply fading away, without trades taking place. The explanation was that, although ARCA is an ECN, it is also an exchange, so it has actual bodies making markets in some issues. I am doing some more research into this, and will be having a meeting with the ARCA big wheels this month. I really don't care what they do, as long as we know what they are doing (so we can make our decisions accordingly). I am not saying that these traders necessarily have access to the ARCA books and/or stops, but we'll see.
Are these type of issues dealt with at your 5-day seminar? Also, do you have any books or info sources you recommend reading prior to taking seminar?
sometimes it is just market noise... other times if a market maker can get short and take the stock below yesterday's low and trigger stops he can cover his short much lower had the stops not been taking out this is reversed on the long side Robert
When trading intra-day you have to think like a MM: when is it a obvious time to go long/short. That's how the MMs think to make $$.
I'll say only this. As for tape painting and the manipulation of price by the Market Makers AND OTHERS, Rembrandt would be proud. The purpose of the game is to get YOUR money in THEIR pocket, by any and all means. Stops won't protect you from anything except blowing your account out. You will be shaken as often from good trades as bad. The boys know you are there, and will make sure you are sincere in holding your position. Rarely will you get a straight ride to the target price, in any timeframe. Unless you are trading for dimes, retracements are part of the landscape. Tight stops will cost you the position very often.
Everything you wrote is DEAD ON TARGET!!! Look at KLAC today for example, the obvious times to go short you would have been taken for a loss...maybe a big loss... You've got to think like a MM to trade well......
In order not to let the MM knows the stop order, are their any free web site that would provide real-time alert? I try YAHOO but their alert (20 minutes delay) is not adequate for trading purpose.
That's exactly how I see it. Also, eliminate fear and greed and those price manipulations won't effect you.