Traders' Roundtable

Hi,

I am trying out another broker. At my previous broker I can use one code for day and night session stop loss orders, eg, a stop loss in CL will work in Nymex hours and in Access hours. It now appears that I need to work two stop loss orders, one for CL (Nymex day) and one for YC (Access night crude symbol). If I only place a stop loss in CL, the order is not worked during the night session.

It appears that the same situation applies in globex currencies. I need to have a stop loss order for the day session Swiss (SF) and one for the night session (S2).

Is this normal? My previous online broker was not full service, but I could still effectively say to him "buy 1 CL at 30 on stop GTC, good all sessions". Same for globex markets. My order would then just pass between day and night sessions without any intervention from myself.

damian

No it doesnt seem normal to me .... excessively pedantic compared with my own experiences.

I have used Fox (Kevin Riordan) and Acclaim (Walter Galwass and Jeff Eizenberg for some years. I would recommend them to anyone by the way. They have both provided good customer focused service and flexibility when I needed it. I have provided them with orders for day and night markets in the the form:

JY0603 Sell 1 at .9999 stop (day only) and
Sell 1 at .9994 stop .9990 limit (globex)

In some cases the orders were more complex requiring them to calculate the overnight order based on the day session lows or highs.

John

Damian,

I have the same order symbols 24 hours a day. IB though does specify a difference between native and non-native stop limit orders (I forgot what that means though) between regular trading hours and the overnight sessions. I am wondering if that is the reason why my orders sometimes do not get filled.

Edward