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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: virtualsignal who wrote (41935)	12/7/2000 8:38:39 PM
From: SE	Read Replies (1) \| Respond to of 44573

I can give a little help. mkt = execute at current prices mkt on close = ex. at closing price 4:15 limit = ex. at my set price without slippage. It will be filled at limit or better. stop = If stop price is hit, order becomes a market order. This is where slippage enters. mkt if touched = Order becomes a market order when price specified is hit. Similar to a stop. The only thing I am not sure of is with a stop, the market has to "TRADE" the stop price to become a live market order. Mkt if touched might be price has to be BID or ASK to become a market order, I think. stop limit = If your price stop price is hit, you can specify a limit at which you wish to be filled. IF the stop and limit are set at the same price you will be filled at your stop price without slippage, assuming that there is someone to take the other side of your order. If you are fourth in line at a specified price and three will take the other side, you are out of luck. If you wish to use a buy stop at 1400 and limit at 1402 you will be filled as a normal market order once your stop is hit, but it will be no higher than 1402. So in a fast market you specified you will accept 2 points slippage. Might be good for entries, but not so good for exits. stop close only = No idea. or better = No idea, but a limit order is the same thing I would think as a limit is limit or better.