stop loss
I just started experimenting with using stop losses for the last two days and had no problems until today, I had it set at 3.8 while I was looking at another webpage I heard the sound it makes when it is triggered but when I looked it didn't even place the order and I end up chasing the price up to 4.8. I did place more orders on both sides of the book after my stop was in place, so not sure that had anything to do with it, any ideas?
-
convoysur-2
- Posts: 1110
- Joined: Thu Jan 12, 2012 10:00 am
if a big lump of money comes it will smash through and you will not get matched,
the same applies to in running it happens so quickly that the stop loss wont work in these cases.
the same applies to in running it happens so quickly that the stop loss wont work in these cases.
Try using trailing stop with an offset, the thing is this feature is sharper and will more of the time close you out once in profit, wish the BA team would give the option of having the offset on or off and it still be functionalkroni wrote:I just started experimenting with using stop losses for the last two days and had no problems until today, I had it set at 3.8 while I was looking at another webpage I heard the sound it makes when it is triggered but when I looked it didn't even place the order and I end up chasing the price up to 4.8. I did place more orders on both sides of the book after my stop was in place, so not sure that had anything to do with it, any ideas?
I've had this argument with posters here, especially Ferru
I don't know any successful traders who rely on stop losses, unless they are operating a fully automated system. If you are trading manually, stop losses will constantly kick you in the gonads, as there are too many gaps that appear, or when it goes against you the stop loss might already be too late after a rapid price move
I don't know any successful traders who rely on stop losses, unless they are operating a fully automated system. If you are trading manually, stop losses will constantly kick you in the gonads, as there are too many gaps that appear, or when it goes against you the stop loss might already be too late after a rapid price move
That's what I thought it went straight through me, so does that mean it did place the bet at first and when the market went past that position it then canceled it? as I couldn't work out why there was no money waiting in the slot I had the stop loss, so I wasn't sure it even placed the order in first place
I'm sure I remember seeing MG use a stop in one of his videos. It might not have been an automated stop, but I'm pretty sure he said something like 'If the market gets to this point, I'm closing out for a loss'.
Jeff
Jeff
LeTiss 4pm wrote:I've had this argument with posters here, especially Ferru
I don't know any successful traders who rely on stop losses, unless they are operating a fully automated system.
We're not talking about the same thing, JeffFerru123 wrote:I'm sure I remember seeing MG use a stop in one of his videos. It might not have been an automated stop, but I'm pretty sure he said something like 'If the market gets to this point, I'm closing out for a loss'.
Jeff
Yes, closing out for a loss is critical when required, I'm talking about setting a stop loss & leaving it
Thanks for the replies, i'll take those points onboard. At the moment I've only been trading about 10 days and the stop loss seems a good idea for me at this point, I have had problems in taking the loss and thinking it will turn and have been caught out afew times when it moved fast, atleast this way it does that for me, maybe as I get more experience I wont need it.
What i'm asking is was it a bug that it did not place the order or is there something im missing? I know it may not of got matched if it did place it but I am just confused to what actually happened
What i'm asking is was it a bug that it did not place the order or is there something im missing? I know it may not of got matched if it did place it but I am just confused to what actually happened
The only time a "mechanical" stop loss works is in a slow moving, liquid market. Otherwise it's hit and miss and easily triggered due to the ebb and flow in the market.
Don't confuse the mechanical stop loss (where the software places the stop at a designated point) with a stop loss POSITION. I always have a stop loss position. This is the point where I say "enough is enough".
If you are a new trader I highly recommend watching the market you are trading 100% of the time. You will learn some of the skills you will need to ensure you don't lose. The way the market behaves is the key skill you need. Once you have this understanding you will be able to manage your position much better
Don't confuse the mechanical stop loss (where the software places the stop at a designated point) with a stop loss POSITION. I always have a stop loss position. This is the point where I say "enough is enough".
If you are a new trader I highly recommend watching the market you are trading 100% of the time. You will learn some of the skills you will need to ensure you don't lose. The way the market behaves is the key skill you need. Once you have this understanding you will be able to manage your position much better
thanks for your views, I didn't use stop loss today and got caught out a couple of times when the market went against me rather quickly and have to red up at a greater loss than I would of planned only to see the market come back just as quickly. I suppose that all part of trading, maybe I was abit slow to realise to whats happening. I really thought I was getting somewhere with trading on the horses during this midweek but Saturday and sunday has been a complete nightmare.
pt and move on.