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Message
Stop Loss/Limit Orders
Posted on 5/22/13 at 9:45 am
Posted on 5/22/13 at 9:45 am
Who all uses these ? Can you provide some details on your strategies? Do you only use them on heavily traded stocks ?
4
Posted on 5/22/13 at 9:54 am to Zilla
When I did stocks I'd put in a trailing stop loss that would sell any time the stock dropped by 10% below the purchase price. If the stock increased in value I'd keep bumping up the stop loss at 10% below the highest value the stock had risen to and take my profits when the stock value fell. My mistake early on was not taking into consideration some stocks day to day volatility in which case swings of 10% could result in buying and selling literally within a few hours on the same day. In such cases you will be getting hosed on transaction fees.
This post was edited on 5/22/13 at 10:15 am
Posted on 7/30/13 at 10:54 am to wiltznucs
So how do you determine the right percentage? Is a higher or lower percentage appropriate based on your investing strategy or the volatility? Or is it more closely related to your risk tolerance?
Posted on 7/30/13 at 11:39 am to wiltznucs
Do they work after hours?
Posted on 7/30/13 at 1:50 pm to wegotdatwood
quote:
Do they work after hours?
Not for stocks. They will for futures, currencies, etc.
Posted on 7/30/13 at 1:57 pm to LSU0358
I used to use stop loss when I was holding a stock for long. Would move that point up as it increased in value, keeping an eye on it all the time.
Limit orders I use to buy or sell all the time. Never use at market buy or sell.
Limit orders I use to buy or sell all the time. Never use at market buy or sell.
Posted on 7/30/13 at 2:50 pm to fishfighter
quote:
Limit orders I use to buy or sell all the time. Never use at market buy or sell.
I'm slowly figuring that out as well - even on large caps with stable prices.
Eventually, I'll learn.
Posted on 7/30/13 at 3:40 pm to Zilla
True story. Several years ago I bought 300 shares of Apple at $15/share. Gradually over 6 months it climbed to $22 or 23 a share. One day it dropped a coouple of points, and worried that I might lose my profit, I called in a stop loss at $20/share. Next day it dropped to $19 and a fraction for a vey short time. Poof there went my 300 shares of Apple. It never hit $20 again and you know the rest of the story. Use this to decide if stop losses are good for you.
Posted on 7/30/13 at 3:43 pm to Fred439
quote:
True story. Several years ago I bought 300 shares of Apple at $15/share. Gradually over 6 months it climbed to $22 or 23 a share. One day it dropped a coouple of points, and worried that I might lose my profit, I called in a stop loss at $20/share. Next day it dropped to $19 and a fraction for a vey short time. Poof there went my 300 shares of Apple. It never hit $20 again and you know the rest of the story. Use this to decide if stop losses are good for you.
:lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:
Posted on 7/30/13 at 3:47 pm to Fred439
Wow. Could have turned 4500 into 210,000. Just wow.
Posted on 7/30/13 at 4:07 pm to fishfighter
quote:
Never use at market buy or sell.
This ^
Posted on 7/31/13 at 11:55 am to Fred439
quote:
True story. Several years ago I bought 300 shares of Apple at $15/share. Gradually over 6 months it climbed to $22 or 23 a share. One day it dropped a coouple of points, and worried that I might lose my profit, I called in a stop loss at $20/share. Next day it dropped to $19 and a fraction for a vey short time. Poof there went my 300 shares of Apple. It never hit $20 again and you know the rest of the story. Use this to decide if stop losses are good for you.
The opposite is I bought 106 AAPL at 372. A 10% trailing stop loss would have had me sell at 630 for a roughly 27k gain. I still have the shares at today's price, holding a neat 7k or so gain.
Posted on 7/31/13 at 4:35 pm to Zilla
yep. I use them on stocks and futures contracts.
Posted on 8/2/13 at 10:09 am to Zilla
I had a stop on quote sell at 16.0 the other day which executed at 16.12 or something like that. The stock did not hit the 16.0 mark at all. Why did it execute above the stop quote?
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