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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Eric P who wrote (7274)	5/17/1999 6:58:00 AM
From: trion12	Read Replies (1) \| Respond to of 12617

Can any Web broker do this? I trade from overseas so I am asleep when the U.S. markets are open. Does anyone know of an e-broker that allows in addition to the entering of a stop-limit order, the entering of a complementary stop-loss order at the same time, conditional on the first order being executed? e.g. If I enter an order to buy 100 XYZ at 100 stop limit 101 I would like to have this followed up with a second order to sell 100 XYZ at 99 stop if and only if the first order is executed. Since I cannot watch the market in real-time, I would like to have this kind of protection auto-electronically. I know this is not a day trading question, but as a lurker here for the past few months I thought that this forum is where I stand the best chance of getting a knowledgeable answer. Thanks.

To: Eric P who wrote (7274)	5/17/1999 7:30:00 AM
From: wily	Respond to of 12617

>>How quick? Marketable orders typically filled in 5 seconds? 15 seconds? Cancellation confirmations back in 5 seconds<< Yes <g>. It's been a while since I did an ISI trade. I'd say probably 5-10 seconds for a confirm or a cancel. I'll time it next time. Can anybody help me on the response time for a MB ISI order? w

To: Eric P who wrote (7274)	5/20/1999 2:03:00 PM
From: Eric P	Read Replies (1) \| Respond to of 12617

Real or Not Real? We all realize that the quotes of market makers at the inside bid or ask can be meaningless in a fast market. In short, the are not real. Simply put, you cannot count on them since they are entitled to maintain their quotes for up to 17 seconds and then pull their quotes without filling any additional orders. ECNs, on the other hand ARE real. You can count on them. If ISLD, or INCA, or REDI, etc. quotes an offer of 1000 shares at a price of 20 => Whoever gets to their order first will get executed. Subsequently, their quote will immediately go away, reflecting that the offer for 1000 shares at 20 has been filled and is no longer available. Something I have pondered recently is the market maker MWSE. This is the symbol for the MidWest Stock Exchange, so I assume that they are not a traditional market maker. Are their quotes real? Are they merely a limit order book from the MidWest Stock Exchange? Or are they subject to the 17 second foolishness of other market makers? Does anyone know? Thanks, -Eric