Here is a message received from a subscriber. The problem here is possible slippage and also annoying rejected trade notices from Open e-cry.
"I’m a subscriber to High Win/Low Risk, and I ran into a problem with the Gold trade last night. Since the order was entered at 5:58, and Gold futures don’t start trading until 6:00, my order got rejected at Open ecry, and filled a few minutes later via C2’s auto-synch (I use Gen3 autotrading)"
If we can’t put in a market order without causing subscribers problems then I think something is wrong which needs to be addressed. Could you check into this please as there have been other complaints. One possible solution could be to place market orders just after the open rather than 2 minutes before. Does this make any sense?
Trades could be parked until just after the open but since there are so many different contract open times there is room for vender error. It is much better to keep things simple while trading by being able to place a market order without subscribers having problems with what occurs.
Thank you for any help you can give.
I fixed this problem this morning (sorry I didn’t alert you). Basically the solution is to handle it at the brokerage level – specifically to not send orders to certain exchanges before the markets open. This is now being done on an exchange-by-exchange basis. Thanks for letting me know.
Thank you Matthew that was quick.