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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: David Nelson who wrote (2635)	1/23/1998 12:10:00 PM
From: dennisp	Read Replies (2) of 12617

Submitting stop orders as well as limit orders on the same shares is called playing both sides of the market, and it is not allowed in Schwab due to the risk of both trades executing. I got the following message from Schwab after placing an order I thought I would be "smart" and protect myself from a slide, thus protecting my "profits" and also enter a limit sell for my projected sell point and take my profits - all on the same stock. Oppps they say it can't be done that way. it's playing both sides of the market. I guess this is a common novice mistake or what? Seemed logical to me. dennisp

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