Trading Clueless

Originally posted by Runningbear
You are obviously buying strength to get into the market. Enter a limit order two points back from the last trade with your stop a bit back from that. Often the market will pullback get you in, then take off in the primary direction.

You will get into a lot less trades, but that may not be a bad thing if your win loss ratio is looking a bit sick.

Have a look at a five minute bar. Even when it makes a new high, it usually pulls back to at least a third of the distance of the previous bar. You don't want to buy the new high as you'll get whipped out to much.

Runningbear
More...

Today I lost 14.5 NQ points on 16 trades.

My putrid W-L -B/E ratio is: 47-66-8 since 9/4/02

I always used limit orders -when trading stocks.

I use BracketTrader with IB - and having been buying on ask and shorting on bid. Today I widened my stops to 4 points and it got hammered twice.

I plan on using limit orders 2-3 points back as you suggested.

Hopefully this will prevent a margin call

Thank You for your insightful post

doher

btw - calibertrader- I am in definite need of tweaking
:confused:
 
vhehn, don't be a simpleton. Of course I've heard of the uptick rule and I know intimately when it applies, after all I've been doing this for 8 years now. Many times when this has happened I've started a trade inquiry and I've gotten the fills I deserved. So stop being such a smart mouth.
 
Originally posted by miskie
Sempai-
you are right , i never reach my target, and i will move it down. my stop is usually .12 cents+/-
More...

You must be trading liquid Nasdaq stocks. With a stop loss of 12 cents, you'll always get shaken out! My suggestion is to throw Nasdaq stocks out the window and trade the SPYs or QQQs for size. Or better yet, trade listed.
 
Originally posted by echo33029
vhehn, don't be a simpleton. Of course I've heard of the uptick rule and I know intimately when it applies, after all I've been doing this for 8 years now. Many times when this has happened I've started a trade inquiry and I've gotten the fills I deserved. So stop being such a smart mouth.
More...

you expected to be filled on this then?
"Case in point today was IBM. Order to short at 0.15 below the current bid. Order sits there without executing, then all of a sudden the stock start dropping, more than 0.70, I am never filled, although several other orders went off at worse prices than mine."
 
Yes I did. Especially when there were trades executing on upticks at worse prices than mine. I inquired on the trade and was told the standard "orders ahead". End of story.
 
Originally posted by echo33029
Yes I did. Especially when there were trades executing on upticks at worse prices than mine. I inquired on the trade and was told the standard "orders ahead". End of story.
More...

This could be true especially if they were market orders. They take priority. So if the specialist ran out of shares and filledall the markets, then your out of luck.
 
You must log in or register to reply here.
Back
Top