Nasdaq stop orders

Discussion in 'Prop Firms' started by Waterwolf, Apr 7, 2004.

  1. I heard traders will soon be able to use stops on Nasdaq-OTC stocks with the Sterling/Echopro software. Anyone know how soon?
  2. Great, and with all due respect to my many friends at Echo..., why would anyone ever want to use mechanical stops (especially on the OTC markets)....

    Software "triggers" maybe, but actual stops are something that we know are not a good thing.

    I'm glad the Sterling/Echo/Predator system has all the bells and whistles, ....and I sincerely hope that they help their traders.... the markets are in a great "trading mode" these days...let's all take advantage of the low volatility....but you might want to re-think the stops......who or what (ecn) is actually responsible for them.?

    And if this post is simply a promotion for Echo, then fine.... let it be, but if traders want an explanation of my reasoning here, PM me.....and I'll be happy to explain.

    If we all make money trading, then the discussions can be made over Mai-Tai's at some later date...if not, we end up fighting over the last piece of "Soylent Green" or left-over pizza. LOL

  3. They came out with phantom stops for the system also. server hled stops and will send out a market or limit order after a certain price criteria is hit. The stops are working with naz also. The phantom stops are good so the specialist won't see them.
  4. We call them "virtual stops" and, yes, we like them as well.