Thanks Brophy. I appreciate you taking the time to
respond. Unfortunately I just don't have the availability to
watch the portfolio during the day to get a "feel" for intraday
activity. I think that's one of my biggest challenges.
I am setting up trades for the breakout plays shown in
the newsletter that automatically executes when the trigger price
is hit. I use ToS "One triggers all" to automatically create
a stop trade at the same time. When the market goes
south, all my stops are hit. This can add up quickly.
I may just have to have tighter stops and set up
another trigger if I get stopped out.
Posted by bulf6285 on 12th of Aug 2020 at 09:22 am
z0ned, I'm in a similar boat to you. The way I handle it is
position size. If I want a 50 share position, I buy 25 at the
trigger, and another 25 lower in case of a backslide in price. This
gives me a lower average cost and allows me to have a wider stop.
If it never goes down, great... I just have a smaller position with
no loss. Just my 2 cents.
I dont know if I agree with this. If you understand the company
well, then i would add. But if you are a short term trader its a
different story. I was negative big on banks and airlines. But i
added them strategically and made it big. But if you are
playing options, then you need to cut them loose because the risks
are high
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Thanks Brophy. I appreciate you
Need some help from the A-Team - I just can't ...
Posted by z0ned on 12th of Aug 2020 at 09:14 am
Thanks Brophy. I appreciate you taking the time to respond. Unfortunately I just don't have the availability to watch the portfolio during the day to get a "feel" for intraday activity. I think that's one of my biggest challenges. I am setting up trades for the breakout plays shown in the newsletter that automatically executes when the trigger price is hit. I use ToS "One triggers all" to automatically create a stop trade at the same time. When the market goes south, all my stops are hit. This can add up quickly. I may just have to have tighter stops and set up another trigger if I get stopped out.
z0ned, I'm in a similar
Posted by bulf6285 on 12th of Aug 2020 at 09:22 am
z0ned, I'm in a similar boat to you. The way I handle it is position size. If I want a 50 share position, I buy 25 at the trigger, and another 25 lower in case of a backslide in price. This gives me a lower average cost and allows me to have a wider stop. If it never goes down, great... I just have a smaller position with no loss. Just my 2 cents.
Thanks Bulf - That's an
Posted by z0ned on 12th of Aug 2020 at 09:47 am
Thanks Bulf - That's an interesting idea. I'm going to test that out. - Matt.
" Never average losses by, for example,
Posted by brophy on 12th of Aug 2020 at 09:53 am
" Never average losses by, for example, buying more of a stock that has fallen.” - Jesse Livermore
I dont know if I
Posted by arun on 12th of Aug 2020 at 09:58 am
I dont know if I agree with this. If you understand the company well, then i would add. But if you are a short term trader its a different story. I was negative big on banks and airlines. But i added them strategically and made it big. But if you are playing options, then you need to cut them loose because the risks are high