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.
stop orders on CBOT
- Thread starter CoolTrader
- Start date
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.
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!!!
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!!!