Quote from tito:
livingston,
I have a couple of questions about stops and getting fills.
Do you have a fixed stop when you enter a position (meaning if a stock goes against you by x amount you automatically get out) or do you try to get a feel for the stock and allow it some breathing room?
Also, how do you get filled on a large order (3000 shares up)?
Do you do it in 1000 share increments? Same with exiting?
Thanks in advance.
Well, depends on the situation, i'd like to let you know upfront that there are no absolutes in trading. But here what i suggest to do, if you enter a position and you aren't very sure of it, sell 500/1000 shares, once you get confirmation than start barelling in. That way you can give your initial position soem breathing room; instead of keeping tight stops. But definetly, have some sort of risk management, and do get out in a timely manner, you can always get back in....
getting filled in large orders is really easy n/x1000, send 1000 buy market, hit the ecns, you can acccumulate size really easily...getting out is a bit tougher but you canuse a combinations of stops, market orders and ecn blast keys......
half the time when the "size" actually steps on to the tape, thats usually the end of the move, also when you are holding larger positions, you have to cut moves short, for instance if im 30-40 cents on a large position, and i see that there is no liquidity for me to get out on , unless i hit the bid/offer, ill just take the whole thing...
anyhow hope it helps...you need to send me a more detailed question, for a better answer..
cheers,
