Day trading in Canada Message Board

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Gold/Mining/Energy : Day trading in Canada

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To: Optim who wrote (1691)	12/4/1998 12:33:00 PM
From: the Chief	Read Replies (1) of 4467

Hi Optim. Does anyone know how stops work on the TSE. I mean if I set a buy stop for a stock is it sent to the exchange and held there? Or does my broker keep it until the price is hit, at which point they pass it to the exchange? No it is held by your brokerage link to the exchange. So the "floor trader" for the associated company has your stop but it is not part of the exchange until the stock hits the stop. That does not mean your "broker has the stop" it means the broker places the stop, the stop is uploaded to the trading floor computer for his brokerage firm, and held there until actioned! I am wondering if I start using a buy/sell stop strategy if it will be subject to the same slow fills that other experience when placing a trade through a broker. No, once the broker places the special order....his natural incompetence is removed from affecting the trade from there on in!!<ggg> the Chief

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