Posted by mastermind on 11th of Jul 2023 at 05:39 pm
The simple method is to set a stop limit buy order at the
trigger posted. That's not perfect because a) sometimes you end up
buying at the open and get a reversal soon after or b) the stock
might gap above your limit and sometimes not retrace enough to
fill. A way to mitigate the first issue is to buy only a half
position with your stop limit and round it out to a full position
if it holds. The second issue I deal with by waiting until the 3rd
half hour of the day and if it hasn't retraced, I change to a
market order.
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The simple method is to
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Posted by mastermind on 11th of Jul 2023 at 05:39 pm
The simple method is to set a stop limit buy order at the trigger posted. That's not perfect because a) sometimes you end up buying at the open and get a reversal soon after or b) the stock might gap above your limit and sometimes not retrace enough to fill. A way to mitigate the first issue is to buy only a half position with your stop limit and round it out to a full position if it holds. The second issue I deal with by waiting until the 3rd half hour of the day and if it hasn't retraced, I change to a market order.