The world of trading is changing because of the new electronic markets and the fact that we no longer have pit trading in many markets. I want to share with you issues involved in placing orders.

 If you are trading on ICE, they don't take classic stop orders, only stop-limit. This means that if you place a stop on ice you need to follow up on it and decide when it time to just take a market order or cancel all together. NYMEX and CBOT take classic stop orders. In addition GTC orders are also not accepted by ICE.

    Some of you might have wondered about the fact that the data for NYMEX and CBOT is not available till 7:00 pm from many data vendors. Well so far it has not created any major problems by not placing the orders during this 1-2 hour window when the markets are open but the data is not available.

  I would like to thank Angus Jackson in Florida for their help in keeping up this this issue.