Posted Dec 31, 2015 by Martin Armstrong
NASDAQ and NYSE are acting really insane and cancelling stop loss orders and GTC (good until cancelled). It appears that these types of orders will be discretionary with some brokers, but the exchanges will not accept them. The problem becomes the burden of putting these orders in every day. Look for brokers who will accommodate these traditional orders. Read the fine print, though. Some may classify them as “discretionary”, so if they forget to execute them they will not be held responsible.