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Strategies & Market Trends : Picks of the quarter

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Jan 2 9:30 AM EST

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To: Patrick Slevin who wrote (6173)	5/23/2008 11:23:58 PM
From: Sr K	Read Replies (1) of 20435

That's what I meant >>I prefer a rule that a defective order shall be void and cancelled, just the way a broker would treat it.<< A broker on the spot or by a callback would clarify what you meant to do. But here we have the 4:00 deadline, and if you miss it, throwing out the order to be replaced on another day is harsher than our current rules. Elroy operates on an 8 hour time difference, and no Fridays. So what I "prefer" (above) would take an order that cannot be executed as placed and reject it. The part of a 2-part order where one stock buy is OK would get executed and the part that cannot be executed, would either be rejected or accepted only to the limit that would be acceptable by the rules. Elroy's job should be as routine as possible, like some orders (really, most) placed here. That's why I prefer rejecting any order that does not qualify under the rules. That will get players to look at their orders and check them just as they would with a real broker. Too many words ... I agree.

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