Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 177.80

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Nov 25 3:59 PM EST

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To: wlcnyc who wrote (4917)	1/18/1999 9:06:00 AM
From: Tony B	Read Replies (2) of 56535

wlcnyc - stop losses - Here's the answer -> cis.ohio-state.edu "Note that the NASDAQ does not officially accept stop loss orders since each market maker sets his own prices. Which of the several market makers would get to apply the stop loss? However, many brokers will simulate stop-loss orders on their own internal systems, often in conjunction with their own market makers. Their internal computers follow one or perhaps several market makers and if one of them quotes a bid which trips the simulated stop order, the broker will enter a real order (perhaps with a limit - NASDAQ does recognize limits) with that market maker. Of course by that time the price might have fallen, and if there was a limit it might not get filled. All these simulated stop orders are doing is pretending they are entering real stops (these are not official stop loss orders in the sense that a stock exchange stop order is), and some brokers who work for the firms that offer this service might not even understand the simulation issue." llater, Tony B

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