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I wanted to replace the stop with a stop-limit order tied to an indicator. Normally, I'll enable OCO, add the second stop, then delete the initial stop.
Just as I was tying the 2nd stop to an indicator, the market dropped from 3400 to 3383, took out my stop-market order AND hit my OCO stop-limit, creating a net-short position
Didn't lose too much, but I'm used to losing due to my own mistakes, rather than bizarre glitches.
So...now I know that OCO cancellations are NOT guaranteed, and I won't chance changing stops like this again.
OCO brackets (with target & stop) I guess are ok as you don't have two orders in the same direction.
Anyone else been bit by this?
Can you help answer these questions from other members on NexusFi?
Yeah, I saw that very long tail print on MES today. I got burned like that once, only with a long wick. Irritating when it happens, but it goes with the territory.
Keep in mind, the CME *automatically* places a stop-limit three points out from your regular stop to protect traders from extreme losses in this type of scenario.
