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Stop Orders for Entry - Where Are They Held?
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Stop Orders for Entry - Where Are They Held?

  #1 (permalink)
Elite Member
Australia
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: CQG
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Stop Orders for Entry - Where Are They Held?

Hi All,

A question with regards to Stop Orders for Entry. The context for this question is for CL and CQG Route (AMP Futures), although I suspect the answer may be relevant to other contracts and possibly data feed/routes.

I have mostly traded with limit orders and occasionally market orders.

I have started using Stop Orders for entry a tick above/below a signal bar. I sometimes get slippage on entry and I understand why as when the price is hit it enters as a market order, therefore it will get the best possible price.

I live overseas from the exchange and am around 250ms ping.

My question
1. Am I correct in assuming stop orders for exiting a trade are held at CQG exchange co-located servers (i.e. on their servers, not in the actual order book)?
2. What about stop orders for entry? Are they held on my computer or on the CQG servers at the exchange?

I am wondering whether I may be getting a bit stiffed occasionally if the stop entry orders are held on my computer and I am lagging the market due to my proximity.

Thanks for input.

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  #3 (permalink)
Market Wizard
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Futures Experience: Beginner
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samsupertrader View Post
Hi All,

A question with regards to Stop Orders for Entry. The context for this question is for CL and CQG Route (AMP Futures), although I suspect the answer may be relevant to other contracts and possibly data feed/routes.

I have mostly traded with limit orders and occasionally market orders.

I have started using Stop Orders for entry a tick above/below a signal bar. I sometimes get slippage on entry and I understand why as when the price is hit it enters as a market order, therefore it will get the best possible price.

I live overseas from the exchange and am around 250ms ping.

My question
1. Am I correct in assuming stop orders for exiting a trade are held at CQG exchange co-located servers (i.e. on their servers, not in the actual order book)?
2. What about stop orders for entry? Are they held on my computer or on the CQG servers at the exchange?

I am wondering whether I may be getting a bit stiffed occasionally if the stop entry orders are held on my computer and I am lagging the market due to my proximity.

Thanks for input.

My understanding is that stop orders are held on CQG infrastructure (when using CQG of course). Limit orders are sent to the exchange. Stop aren't, until they are triggered.

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