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 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 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.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
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.