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Who else can view my STOP orders?
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Who else can view my STOP orders?

  #1 (permalink)
Trading Apprentice
Buenos Aires, Argentina
 
Futures Experience: Intermediate
Platform: NinjaTrader, TOS
Favorite Futures: ES
 
Posts: 47 since Jun 2013
Thanks: 39 given, 4 received

Who else can view my STOP orders?

I am wondering if there is any other player in the market able to 'see' STOP orders besides my own broker? Is there anyone/anyway to differentiate between selling orders and STOP loss orders? The same for buying orders.

Sorry if this is too basic, I am just curious about it.

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,123 since Dec 2013
Thanks: 1,749 given, 3,360 received
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With regards to futures (you list ES as your favourite instrument) the only people who could possibly see your stop orders is somebody from your brokerage company who can see the exchange gateways/the firms order book (ie has access to the brokers servers). Nobody in the market can see your stop orders. Although if you place your stops like most people do (within a few ticks of daily/first 30min range/recent/10day High/Lows) half the market can reliably guess where your stops are.

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  #4 (permalink)
Trading Apprentice
Buenos Aires, Argentina
 
Futures Experience: Intermediate
Platform: NinjaTrader, TOS
Favorite Futures: ES
 
Posts: 47 since Jun 2013
Thanks: 39 given, 4 received

Thanks a lot, I will now go out and read if there is any kind of order which gets 'created; after a certain condition is met instead of just sitting there waiting for the condition to happen.

Again, thanks for your time!

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  #5 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,123 since Dec 2013
Thanks: 1,749 given, 3,360 received
Forum Reputation: Legendary


Yakito View Post
Thanks a lot, I will now go out and read if there is any kind of order which gets 'created; after a certain condition is met instead of just sitting there waiting for the condition to happen.

Again, thanks for your time!

I'm not sure what you mean by that. If you clarify maybe we can help.

Regarding stops, there are two types of stops. Stop orders that are maintained by your broker/software and stops that are maintained by the exchange. In the first when the market reaches the price of your stop your broker/software sends an order to the exchange. In the second the exchange does it automatically, hence it is faster than the first. Another issue with the first is if for any reason your broker/software loses connection with the exchange, your stop order will not get triggered.

Iceberg orders are another type of order, where what happens in the market is different than what you would predict looking at the order book.

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  #6 (permalink)
Trading Apprentice
Buenos Aires, Argentina
 
Futures Experience: Intermediate
Platform: NinjaTrader, TOS
Favorite Futures: ES
 
Posts: 47 since Jun 2013
Thanks: 39 given, 4 received

Thanks again. I guess I was talking about something like the first method you posted where the order is only visible to my broker until the stop is triggered and then it becomes an order to the market.

IB has tons of order types and I am new with them now so I will learn more about them.

It would be good to have some kind of hybrid of both orders you mention where I can place the order and my broker would store it in their servers until the stop is met. In that case there wouldn't be any connectivity issues possible.

Thank you

SMCJB View Post
I'm not sure what you mean by that. If you clarify maybe we can help.

Regarding stops, there are two types of stops. Stop orders that are maintained by your broker/software and stops that are maintained by the exchange. In the first when the market reaches the price of your stop your broker/software sends an order to the exchange. In the second the exchange does it automatically, hence it is faster than the first. Another issue with the first is if for any reason your broker/software loses connection with the exchange, your stop order will not get triggered.

Iceberg orders are another type of order, where what happens in the market is different than what you would predict looking at the order book.


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  #7 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,123 since Dec 2013
Thanks: 1,749 given, 3,360 received
Forum Reputation: Legendary


SMCJB View Post
Regarding stops, there are two types of stops. Stop orders that are maintained by your broker/software and stops that are maintained by the exchange. In the first when the market reaches the price of your stop your broker/software sends an order to the exchange. In the second the exchange does it automatically, hence it is faster than the first. Another issue with the first is if for any reason your broker/software loses connection with the exchange, your stop order will not get triggered.

Iceberg orders are another type of order, where what happens in the market is different than what you would predict looking at the order book.


Yakito View Post
IB has tons of order types and I am new with them now so I will learn more about them.

It would be good to have some kind of hybrid of both orders you mention where I can place the order and my broker would store it in their servers until the stop is met. In that case there wouldn't be any connectivity issues possible.

I made the stop order example to illustrate the difference between software supported orders versus exchange supported orders. I'm not sure what all the IB order types you reference are but if they IB supported rather than exchange supported than you are at IB's mercy on how efficiently they are executed.

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