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!!!!
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.
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.
How about IB, X_trader, J-trader, TS, Echo trader (insatquote)... others I like to have list of brokers orders seat on exchange
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. -Eric
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.
For what seasons Genesis can't offer native stops while IB does http://www.interactivebrokers.com/en/trading/exchanges.php?exch=nasdaq&ib_entity=llc Native: Limit Bracket Market Conditional LOO (Limit on Open) LOC (Limit on Close) MOC (Market on Close) MOO (Market on Open) Simulate: * GAT (Good After Time) * GTD (Good 'Til Date/Time) * GTC (Good 'Til Canceled) * Market to limit Relative Stop Stop limit Trailing stop