Overnight Stops

Discussion in 'Order Execution' started by Patient Trader, Sep 9, 2002.

  1. Other than the greater amount of leverage with futures versus ETFs such as the QQQs and SPYs, overnight stop capability with futures looms as a big safety net over ETFs. That is, if there are any brokerages that will accept overnight stops. I haven't done an exhaustive study of the subject, but have talked with several brokerages who have told me that (1) they don't allow overnight stops because of liability potential if servers go down, and (2) if there are brokerages who allow overnight stops, it probably doesn't protect much in a major news event because price slices right through your stop and you get clobbered anyway.

    I'd like to hear what experienced traders have to say about this, and also which brokerages, if any, are high on your list for excellent overnight stop service.

    Thanks...
     
  2. All listed exchanges accept stops and stop limits for U.S. equities.

    Jeff--