Gents - execution question here

    Posted by erikvik on 9th of Jul 2020 at 02:37 pm

    Gents - execution question here for experienced traders.  Having stop buy limit orders in on TSLA, and PRTS, and getting blown right past my stop limit orders...has been frustrating.  There was plenty of room to fill these trades (eg. PRTS was stop 9.01, limit 9.19 to fill) are some platforms better than others at getting orders filled?  I use IB Brokers which I thought was about as slick and efficient as you can get.  otherwise, with these higher priced stocks like TSLA, should I be dropping the limit? 

    wow that's interesting, you had

    Posted by matt on 9th of Jul 2020 at 03:17 pm

    wow that's interesting, you had your limit orders pretty wide vs like some people trying to put them a few cents away.  now I will see about IB I have had them since 1999 but their order fills generally suck. IB is great for shorting as they have shares for most stocks, but I have not been impressed with their fills.  On PRTS that candle was a big candle where it powered up yesterday morning.  a 1 min candle opened  at 8.8 and closed at 9.21, so it may have went up too fast for IB to acknowledge the order (it looks like price jumped over your limit since the 1 min candle went from 8.8 to 9.21.  basically it popped really fast and it was hard to buy it unless you were already in it.  so that stuff just happens

    for absolute perfect patterns like PRTS, that's like an A+ pattern for a coil, they don't get any better than that, if that pattern is that good looking textbook perfect I will many times just buy it early in the pattern because I know I may not get a chance or will miss it. I'll buy in the coil with my stop.  

    again I think it's just bad luck for you on PRTS since it moved so fast there yesterday morning your limit price was skipped over

     erikvik, PRTS is moving about

    Posted by craigm on 9th of Jul 2020 at 04:33 pm

     erikvik, PRTS is moving about 63 cents a day. The range of that 1 minute candle was 70 cents, more than it normally moves in a day. Your spread  was 29% of what it normally moves in a day, which should have been plenty. In addition the next 1 min candle had a low of 9.16, so price came back in your range. Seems to me you should have been filled. Sucks that you weren't. I use ToS. I've gotten some REALLY bad fills when I've just done buy stop orders, so I've switched to buy stop-limit orders. I vary the stop-limit spread based on the ATR of the stock. For example, for a stock that moves $1 a day, a 5-10 cent stop to limit spread should get you filled, at least it usually does with ToS.  A stock that moves $10 a day may need a larger spread since it can generally move quicker in a short timeframe. 


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