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Stop Losses

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louisg
Super Contributor
Between what times are stop losses active when trading index futures? I phoned OST this morning and was told that ALL stop losses are active from 08H50 to 16H50. But the stop loss help section says, "Stop losses only trigger between 9:10 and 16:50 for all instruments irrelevant of when that particular market opens for trading.Except for Index Futures, all stop losses are active from 09h10 until 16h50 on market days only, thereby avoiding the volatility of market open, when stop losses could be unnecessarily activated. Index futures stop losses are active from 08h35 to 17h25." Can anyone clarify.
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15 REPLIES 15
Not applicable
thhes parameters are set by Standard Bank. If you were trading with some of the better brokers your stop losses would be active as soon as the market opens - not a second later. This delay cannot be axplained by any other reason than SFM staff wanting to have their morning coffee in peace or them actually ttading against you during this time. Remember they have any derivative positions hedged and can make use of any arbitrage opportunity as long as you are excluded from the market.
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SimonPB
Valued Contributor
actually it has nothing to do with morning coffee ..
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Not applicable
i can neither deny or confirm the latter
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Not applicable
Stop losses on Index futures are also active between 9h10 & 16h50.
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louisg
Super Contributor
Sorry, I was told by OST that stop losses were active between 09H10 (not 08H50 as above) and 16H50. My mistake.
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Rams
Super Contributor
no stop loss for ALSI futures after at 16H50: i cancell my stop loss and manually exit at the stop loss level but emotions do creep in, so try to close positions by that time...
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louisg
Super Contributor
Thanks to those who replied. I assume that the last sentence," Index futures stop losses are active from 08H35 to 17H25" is INCORRECT and that ALL stop losses are only active from 09H10 to 16H50. Could someone from OST please confirm this?
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Not applicable
I dont think standard bank read the forums, go to the contact us.
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SimonPB
Valued Contributor
of course you can't .. but that doesn't stop you dreaming up reasons ..
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louisg
Super Contributor
Thanks Cash, I did contact them again and they confirmed that ALL stop losses are active from 09H10 to 16H50. They have also now edited the stop loss help section. Rather effecient of OST I might add.
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Rams
Super Contributor
yes, i must add that the call centre is very efficient on OST.
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Not applicable
this is possibly the funniest thing I have seen in a long time...yes i have to also add that I in fact work for them...Probably as a "Call Centre Customer Liason Excecutive"
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Rams
Super Contributor
yeah, i can see you not trading all these moves!
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louisg
Super Contributor
Ah! Alsitrader...I suspected you ran PR for OST.
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Not applicable
LOL...yes can you imagine?
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