almayo
2 posts
msg #29239
- Ignore almayo |
10/10/2003 5:37:32 AM
You could move our account to a broker that lets you place hidden stops. Hidden stops are held by the broker and the market maker cannot see them. Only when the stop is triggered by the price (or other criteria that you can set, e.g. when an index hits a certain value) does the broker send the trade to the floor. Interactive Brokers is one that has this feature. I think OptionsXpress is another. A variation on this feature is an automatic trailing stop based on a dollar amount or a percent. The broker keeps this hidden and moves it up (or down for a short) as the price moves in your direction.
Al
|
almayo
2 posts
msg #29240
- Ignore almayo |
10/10/2003 5:38:55 AM
Oops...meant to say "You could move YOUR account..."
Al
|
EWZuber
1,373 posts
msg #29248
- Ignore EWZuber |
10/10/2003 8:58:25 AM
Thats way cool andI didn't know that IB had this feature. Thanks much.
|
bob79924
38 posts
msg #29299
- Ignore bob79924 |
10/12/2003 10:20:36 AM
Ameritrade only charges a single commission for a number of partial fills, as long as they are all on the same day. Others may do this also.
How about more info on the hidden stops. What brokers, for example, have them. I've never heard of it before, but I'm sure interested. I try to keep my stops mental instead of actual since I have become very suspicious that some market makers deliberately go for stops.
Bob W.
|
TheRumpledOne
6,411 posts
msg #29300
- Ignore TheRumpledOne |
10/12/2003 1:44:21 PM
So long as your order is GTC (good till cancelled) you only get charged 1 commission even if it takes days/weeks/months to fill.
|
TheRumpledOne
6,411 posts
msg #29319
- Ignore TheRumpledOne |
10/14/2003 3:36:56 PM
Here's a letter I email to Ameritrade regarding Market Makers not reflecting OTCBB orders:
Once again, I do NOT hear real solutions...
It is very simple.. If I am buying and my bid is the BEST BID, of course, I want it reflected. And if I am selling and my offer is the BEST ASK, I want that reflected. To do otherwise, is NOT in my best interest.
Ameritrade is large enough to tell the market makers to either reflect its clients orders or the orders will go some where else.
Ameritrade could do a lot to clean up the mess buy this simple requirement.
Now, does Ameritrade want to be part of the solution or remain part of the problem?
|