Results :
HCBK : None
MRVL : Buy at 7.5458. Close at 7.7516 So + 2.7273%
RIMM : Buy at 40.202. Close at 40.904 So + 1.7466%
JNPR : Buy at 13.798. Close at 13.79 So - 0.057%
SCHW : None
1. NO, your ISL is just $0.07 below OPENING price and YES it is the true on all of the stocks i trade.
An another approach is to put your ISL at OPENING price (i use it). It depends on your profile (more secure or not).
2. I can't give you more explanations on how i generate my L5 levels. It is my secret. Perhaps in the future. But it is not about support or resistance. I do not use technical analysis (no RSI, no MACD, no SUPPORT/RESISTANCE etc...) to find each day my L5 levels.