stop orders on CBOT

Discussion in 'Financial Futures' started by CoolTrader, May 7, 2004.

  1. Does CBOT have any plan to support native stops? But right now, I have to depend on the trading platform to provide simulated stops. I am using IB and J-trader, which I do not really trust. When the market moves fast against you and your stop is not triggered, it can cost you big money. I am considering switching to Refco Pro. Which software is best for this? Your input is appreciated.
     
  2. titan4

    titan4

    WHen you say Native stops what do you mean? Are you looking for a stop limit or do you want a stop that will be triggered?
     
  3. PetaDollar

    PetaDollar Moderator

    By native stops he means an order that rests in the eCBOT computers, rather than the broker's computers. The advantage is a little speed (helpful during extremely volatile times) plus avoiding a potential disaster scenario where your broker's computers are down and can't send your stop in.
     
  4. pspr

    pspr

    I trade the ES and have had problems using IB stops that weren't native. Stops have been executed long after price moved through them and I've even had a stop executed when the price didn't even trade near my stop price. IB nor the exchange wouldn't correct or bust any of their errors. So, I will only trade contracts that allow NATIVE stop or stop-limit orders.

    I wouldn't trade the YM because there isn't any way to place a native stop. Sooner or later (probably sooner) it will bite you! If you trade any size, it will bite you bad!!!