Placing a Stop Loss Using a Trade Trigger / Conditional Order

[Wei]

I wonder if market maker can see simple conditional orders like:
if IWM <=/>= xxx, execute IWM buy/sell @ market order
which is essentially the same as a stop loss order in disguise.

or maybe to make it more complicated, make the condition to be:
if IWM <= xxx AND SPY < 1000 (essentially some trigger always true)

Hope anyone with street experience can comment.

Just writing to remind robot/RT users of this interesting post by asomani.

We are certainly smaller than the market, but every attempt to "hide our hand" is appreciated, as stop fishing is a practice performed a lot by algos at least on an intraday basis.

It could be of no use, but implementing it doesn't require much effort either.