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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (3377)	7/15/1998 2:32:00 PM
From: Morpher	Respond to of 4969

Steve, see sec.gov for the proposition, sec.gov for people's comments, and electronic-traders.org for some good critique from daytraders.

To: steve goldman who wrote (3377)	7/15/1998 10:32:00 PM
From: Tim Lumley	Read Replies (1) \| Respond to of 4969

Steve, I have been lurking on this site for some time. I think it is a great thread and appreciate your sharing of information. I have been debating the merits of mental stops vs. "hard stops" that are entered with my broker. My concern about the hard stops relates to several comments I have heard about MM picking off stops to get shares at favorable (to them) prices. I recently read that stop orders are actually not entered into any order system until the stop level is reached. At that time the broker simply enters a market order. If this is indeed the case, the MM would not have an opportunity to pick off stop orders -- Right? I would appreciate yours or other comments. Tim