Stops at Genesis

Discussion in 'Retail Brokers' started by BrownianMotion, Dec 4, 2005.

  1. Anyone have any idea whatsoever when Genesis will add server-side stops for Nasdaq stocks?

    How long does it take to program and test software that sends buy and sell orders when a price is touched?

    Seems like stops have been a constant request and on their to-do list forever...but they aren't moving on it!!!!
  2. amazingly they dont care either.
  3. EricP


    If I had to guess, I'd say that stop orders are most frequently needed and used by lower activity traders, the type that needs to place a stop loss order and leave the computer for hours at a time. Genesis caters to the much more active traders, for whom stop orders are not an important feature.
  4. Can someone name few brokers with server-side
    (i mean seating on exchange) stops?

  5. That's not accurate. The use of stops depend on your trading methodology. For example, if you trade several positions at one time, server-side stops (as opposed to specialist stops) are absolutely critical.

    I know a good number of people off the top of my head that utilize stops and do over a million shares a month each. A million shares ain't 10 million shares but it ain't chump change either.

  6. Any broker using REDI+ has them....Bright for example.
  7. How about IB, X_trader, J-trader, TS, Echo trader (insatquote)... others

    I like to have list of brokers orders seat on exchange
  8. EricP


    I never said that some active traders may not also employ stops in their trading. However, I stand by my believe that stops are <i>mostly</i> required by lower volume traders.


  9. We can agree to disagree but the point stands that Genesis is losing business because they don't have them. I know 1/2 dozen people who do volume and are looking for a new firm, but won't trade with Genesis because they don't have stops.
  10. For what seasons Genesis can't offer native stops while
    IB does

    Limit Bracket
    Market Conditional
    LOO (Limit on Open)
    LOC (Limit on Close)
    MOC (Market on Close)
    MOO (Market on Open)

    * GAT (Good After Time)
    * GTD (Good 'Til Date/Time)
    * GTC (Good 'Til Canceled)
    * Market to limit
    Stop limit
    Trailing stop
    #10     Dec 4, 2005