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Where is Stop order placed? exchange or broker?
- Thread starter qll
- Start date
Seriously, do you think they go gunning for "your" stops? They know where the weak hands are. Find an absolute point of entry with a defined risk where you can either bail with a small loss, get stopped out, reverse or re-enter. If you do not have these 4 action plans in mind when entering, do not enter.
I am not always able to mentally follow through myself, but I know the plan up front.
I am not always able to mentally follow through myself, but I know the plan up front.
Good point the don't need to see your actual stops, they don't care; in order to know they're there... it just takes is price discovery below support/above resistance for all the stops to kick in...Quote from bsparkyman:
Seriously, do you think they go gunning for "your" stops? They know where the weak hands are. Find an absolute point of entry with a defined risk where you can either bail with a small loss, get stopped out, reverse or re-enter. If you do not have these 4 action plans in mind when entering, do not enter.
I am not always able to mentally follow through myself, but I know the plan up front.
Quote from pipmaster:
I'm fairly certain that stops are placed on the brokers side.
FXTraderWill wrote:
on http://www.elitetrader.com/vb/showthread.php?s=&threadid=88971
Because the specialist isn't really involved like before - the specialists are just daytraders now. Before, they could see stop orders and control market orders and lock the book - traders who became familiar with how different specialists work orders could profit by reading the specialists. Now those techniques don't work. You also can't get in ahead of a cross on the NYOB, or blowup a stepping short with the same predictability as before.
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Also, Chinese brokers gave me warning when they enabled the stop features: "since currently chinese exchange does not support stops, use stops at your own risks". the wording means foreign exchanges will support stops.