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Strategies & Market Trends : Ride the Tiger with CD

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To: NOW who wrote (88806)	8/18/2007 7:01:32 PM
From: Radiosport	Read Replies (4) of 313137

I had a stop loss market order on CKG at 5.88 USD I trade in the US ameritrade They told me the first Bid at below 5.88 came in today they filled me at 4.87 USD!! My understanding is that a stop loss market order means that if the price of the stock drops to or below the stop loss price, then the broker will place a market order to sell the stock. So on a rapidly falling or thinly traded stock, the actual sell price can be far below the listed stop loss price. This may be made worse by TD Ameritrade. While they trade directly on the Canadian exchanges, they use pink sheet symbol names in the account for tracking. The prices they show for quotes or current PF value are also the current pink sheet prices, which usually lag the current Canadian exchange prices, often by a day or more. If they are looking at the pink sheet price to trigger the stop loss sale, the current Canadian price when sold could be far below your desired execution price. John

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