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brownsfan019

OEC Stops Explained

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Since there's at least one person giving inaccurate information on how OEC handles stops, I emailed my OEC contact asking for clarification on how stops work.

 

From the source:

 

If the exchange supports stops/stop limits (for the given product) OEC sends those to the exchange.

 

The only stops we would hold on our servers would be:

 

1. Synthetic stops (ie trailing stops). And this implementation is pretty good as many platforms do these client side.

 

2. Multi-legged brackets (“Strategy Order” (Thumbs up) on the DOM ). These work client side.

 

3. The exchange may not support stops (natively), so OEC may synthetically create a stop order for the client on our server.

 

If someone places a stop in the DOM, if the exchange supports it for that contract, it goes to the exchange.

 

Contrary to what you may have heard from others on this very site, that is how stops are handled. In a nutshell, if you place your stop on the DOM and the exchange supports stops, it's at the exchange. Now if the exchange does not support it, then there's not much OEC can do at that point but I'm sure there's a couple here that will find fault with that as well.

 

Just another example of why you should contact your broker directly (regardless of who the broker is) and get the answer yourself. While forums are nice, there's plenty of misinformation presented either due to lack of knowledge or wanting to put down a broker for the sake of putting them down.

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So speaks the OEC marketing shill.

 

You are funny macd. You bring up OEC in a thread that has nothing to do with them. You give inaccurate information.

 

All I did was set the story straight so those that may be reading this understand how it really works, not what you think happens.

 

Please point out where that information is wrong. Please show me that the information I was given was wrong and that your information is correct.

 

Can you do that or will you just resort to name calling?

 

If you've got nothing, can you just give it a rest or is this how you plan to spend your evening?

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is this how you plan to spend your evening?

Maybe.

[ame=http://www.youtube.com/watch?v=U18VkI0uDxE&NR=1]YouTube - The Most Interesting Trader in the World[/ame]

Maybe not.

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Very few exchanges support stops as native orders.

 

Pretty much every front end used by professionals will keep stops server side (eg TT, CQG....) As Ninja Trader (a popular retail front end) has no 'back end' but hooks up to someone elses back end (like TT) via an API it is more than likely that the stops will be held on the client. Same goes for Strategy Runner.

 

A useful topic Brownsfan. Well done for bringing this up as it is often these small differences that make a big difference over time.

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Couldn't figure out if bracket orders are hold on server or client side. If it's client side, what is the advantage of what they say "server side orders" if every other platform (TT, Ninja, etc) also holds limit orders server side?

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Very few exchanges support stops as native orders.

 

Pretty much every front end used by professionals will keep stops server side (eg TT, CQG....) As Ninja Trader (a popular retail front end) has no 'back end' but hooks up to someone elses back end (like TT) via an API it is more than likely that the stops will be held on the client. Same goes for Strategy Runner.

 

A useful topic Brownsfan. Well done for bringing this up as it is often these small differences that make a big difference over time.

 

CME has native stop orders both stop market and stop limit. NinjaTrader does not hold any stops client side, they either go to the exchange or are held server side by our connectivity providers like Zen-Fire, Trading Technologies or Interactive Brokers to name a few.

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