gee cisco really ruined the bulls plan to move this up 40 points for the open tonight:...wallstreet is so crooked:0
CL Redux
- Thread starter schizo
- Start date
i'm extremely patient when a breakout happens and only enter my position when certain formation of signals in my system pops up. i usually don't place an order in a certain distance outside breakout unless it's already in the extreme zone, i.e. a fake breakout happens. that might be the major difference between our average down strategy.
nd, did you play that breakout today at 77.45ish.....? how much slippage did you get on that move?
and are you just using booktrader to use your buystops on that breakout trade, how do you like booktrader for buystops, any technical failings? thanks
and are you just using booktrader to use your buystops on that breakout trade, how do you like booktrader for buystops, any technical failings? thanks
I had computer issues this morning and didn't start trading for a while. I was focused on 6E, very upset I missed a strong move off an excellent short signal, and only had 4 CL trades later in the day, no breakouts.
I use booktrader and try to place my stop orders in advance to avoid slippage. Yesterday I placed my sell stop @ 85.95 well in advance of price getting there. I knew it was a major support level from both Friday and Monday and expected the breakout to be very strong. I got no slippage whatsoever on that trade.
I've experienced no ongoing technical failings, just the slippage issue when I throw in a stop order just seconds before the breakout. The only time I do that is when I've become distracted and suddenly notice price is approaching the HOD or LOD and I have no order prepared in advance. I've had 4 and 8 ticks slippage doing that, and 15 ticks slippage when I did it during the inventory report last week. So I wouldn't recommend using a stop order to play a breakout during that report.
Quote from NoDoji:
Wow, I was trading CLF without stops to the long side at that time. Got lucky with it before it crashed, but not very lucky with many other swing trades at that time.
Yeah, and i was almost 10 pts in the money on 700 or 1000 shares and thought i could sit through until the bounce to minimize losses. Of course it took me out around 87 something for margin requirement and came back. The rest of positions in energy stocks were the same disaster. Way to learn ahead and thanks for that worcaholic aspiration you give to many of us. With a lot of respect, Irene.
Is everyone taking the day off?? SELL SELL SELL 87.80
Damn stopped out sorry false alarm