The only market maker that can see your stop order is the market maker to whom your order is routed. In some cases, the broker may actually hold the stop order themselves and not issue the order to the market maker until the stop is hit.
In terms of advice on stops, my best advice is that you should not place stops at round numbers. For example, if a stock is trading at 121 3/8, do not place a stop at 120 even. There will likely be a large supply of limit buy orders at that even price. Therefore, place your sell stop at 119 7/8 or at 119 15/16. This way, you will only get stopped out of your stock if the selling has enough momentum to sell all of the way through the supply of buy orders at 120.
Similarly, if you wanted to buy the same stock on a limit order, do not place your buy limit at 120. Instead, get in front of the crowd and place your buy limit at 120 1/16 or 120 1/8.
Also, if your stops keep getting taken out, you should probably re-evaluate your a) Entry timing and b) Stop loss amount. It sounds as though you are entering stocks at potentially profitable times, since you said that the stocks reverse after taking out your stop and presumably move up as expected. Maybe you are just not giving the stock enough room with your stops?
Just my opinion, good luck!
-Eric |
