def- limit sell orders

[stevene9]

If a stop market order will not be executed overnight, what about a stop limit order. Also what about a normal sell order. Say I buy a contract for 1700 and put in a GTC sell limit order at 1750. Will this be executed overnight if that level is reached and it can trade there. Thanks.

 

[def]

No, the reason it was decided not to support stop orders overnight are due to the wide fluctuations that often occur on very little volume. Bad prints occur more often during these sessions which could trigger poor orders. I do see how if one is aware of the risks why an argument can be made for allowing stop limits but I'm afraid the decision has been made for now.

 

[stevene9]

I assume this means no limit orders at all at night (not talking about stop limit). I buy a contract at 1700 and want to sell it at 1750 if it goes up overnight. I assume your comments mean that I cannot put any order in above the market. How does your software monitor this? What is I put a sell limit order in on the bid side of the market. How can you not execute it? What if I put it in to sell 1 point above the market? Will this not get executed. I am not talking about stop orders here, but limit orders to sell at a price above the market if it gets there.

 

[def]

no it doesn't. It just means that stop orders are not supported overnight. You can place an order anywhere you like as long as the route accepts it, it should be fine. In fact, I personally would discourage market orders overnight due to the liquidity issues.