The Opening Orders Thread
- Thread starter Don Bright
- Start date
I don't like using stops, they seem to be a target point before reversal, LOL. I tell new people to use a dime or so "mental stop" initially until they get to know their stocks real well.
Today, acccidentally sent in orders twice, a few double fills of of course, PEP cost me, but netted a couple hundred after all is said and done.
Don
Today, acccidentally sent in orders twice, a few double fills of of course, PEP cost me, but netted a couple hundred after all is said and done.
Don
1 long loss, 1 short win, canceled each other out.
Putting initial stops in for OPGs is tough because sometimes the price whips around wildly; you have to judge whether its going to be a bad trade or if the move is just a quick shakeout lasting only a couple seconds before a rebound.
I think its a good idea to have an "uncle" point to keep from being too stubborn. It should be much bigger than 10 cents though.
Putting initial stops in for OPGs is tough because sometimes the price whips around wildly; you have to judge whether its going to be a bad trade or if the move is just a quick shakeout lasting only a couple seconds before a rebound.
I think its a good idea to have an "uncle" point to keep from being too stubborn. It should be much bigger than 10 cents though.
I got 14 fills with a fairly wide envelope today (about .9% on both sides) - many more than for a week or so. Decent profit.
As far as stops: they are tricky, of course: stops saved me many'o'times. There were cases when i got taken out of the market at much worse prices than my stop, but seeing the immediately following action, I was happy that it happened, because stocks kept flying against me. On the other hand I got my biggest shakeout ever a few days ago: bought 3K, tried to sell all for profit and sold 300 only. The rest got sold (by my program) at a price $1 - 1.25 lower within 3 seconds - not even enough time to blink. Of course the stock traded $1.50 higher just a minute or two later. This wasn't on some thinly traded obscure stock either... And it behaved well in my tests, too.
cheers,
nimbler
As far as stops: they are tricky, of course: stops saved me many'o'times. There were cases when i got taken out of the market at much worse prices than my stop, but seeing the immediately following action, I was happy that it happened, because stocks kept flying against me. On the other hand I got my biggest shakeout ever a few days ago: bought 3K, tried to sell all for profit and sold 300 only. The rest got sold (by my program) at a price $1 - 1.25 lower within 3 seconds - not even enough time to blink. Of course the stock traded $1.50 higher just a minute or two later. This wasn't on some thinly traded obscure stock either... And it behaved well in my tests, too.
cheers,
nimbler
Small again, +$200 .....
Don
Don