[RT] Re: E-mini S&P Stops and Market Volatility

[Gary Fritz <fritz@xxxxxxxx>]

> These stops are not traditional stops in the sense they become true
> market orders.  These stops become limit orders set several ticks worse
> than the stop price.   
> The way to overcome these problems, other than not trading, is to use
> aggressive limit orders rather than markets and to use specified stop
> limits.  Aggressive limit orders means that if the E-mini S&P is trading
> at 148500, enter an order to buy one at 149000.  You will get the best
> offer available at 149000 or lower.  

Hello John,

That being the case, why would anyone ever use a synthetic "market"
order on the mini's?  You could enter a limit 5, 50, or 500 points away
from the last price, and you're still guaranteed to get the best fill
when you get to the front of the queue -- right?  That way you don't
have to worry about how your particular FCM treats market orders, and
you don't have the danger of missing the fill, as can happen with a
market order.

So why EVER use a "market" order?
Gary