Stop order execution - trigger on bid?

i use QT with an IB datafeed.

it is exceptionally rare, but I have seen a QT chart miss a trade, since the CHART does not update with each tick that comes across, so if a print happens at X, does not trade thru, and immediately reverses, X may not show up on the chart.

this happened to me twice (that i noticed) in the last couple of months
 
Quote from traderdani:

Thanks all. I think I understand it better now.
The reason I was confused was the fact that when I looked at the chart at the end of the day, my stop price was never reached.
When you say I need to work on order execution, can you please elaborate?
Does it mean that once I decide a stop, I need to adjust it based on the volatility of the stock I am trading?
I don't do intraday trading, I usually hold my position anywhere from 2 to 15 days. I had only a couple of trades I held for 20 days.
I am learning, trying few setups, and trying to avoid "impulse plays", which of course happened.... with some loss.
Results... I am positive, nothing exceptional, but my goal right now is to learn technique and discipline, and build some statistics on what works and what doesn't.
Thanks
More...
"order execution" = how your order is routed and executed at the central market place (electronic, pit, native, file, etc, etc...).
If your order has been filled outside of the daily range ( quote of the market place, and not your charting program...) then it became very suspect. Check "time and sale" at the market place , and if your order is outside, then fill a busting trade request with your broker. He sent it to the market place.
The bad new is that's too late now: you must act immediately. But it's good to learn...you will face it again in the future.
Thank for your answer on your trading: this is a good place to start. By the way, let us know if your fill is INSIDE the official daily range of the market place. I bet it is.
Have a good day.
 
I could be wrong on this as I rarely use stops but I was under the impression that NYSE/AMEX stop orders trigger on LAST traded price and NASDAQ traded stops trigger on bid/ask.

Could the thread originator confirm whether the stock in question is NYSE/AMEX or NASDAQ?
 
Well, that pretty much confirms my comment above. Nasdaq-traded equities trigger stops based on last bid/ask price, not last traded price like NYSE. I don't believe it's E-trade's fault, even though I wouldn't use them for active trading.

Quote from traderdani:

The stock traded is NASDAQ.
More...
 
etrade is very screwy, I had so many bad experiences with them that I finally switched to IB. According to etrade, the stop order will get executed at the set price or higher, which means that any market price above the set price will be executed immediately.

It also happened to me when I tried to buy using a stop order; as the stop order becomes a market order the buy price was executed at the peek of the previous high???. Just like you, I protested but the decision was never reversed.

Etrade is only good for limit order other than I don't think the're worth trading with.
 
For what it's worth, I think E-Trade internalizes a lot of their order flow to the E-Trade Financial specialists at the Midwest Stock Exchange, these guys also trade some OTC issues. Fasten your seat belts when they get your order, they're pretty much all over the place and may or may not offer print protection (matching the inside market / prints on the primary exchange).
 
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