IWM should have gone flat with a stop on Jan 5 - STS was
192.5 and the low that day was 192.29. My stop loss order was
hit, yet the table still shows it long.
I'll look into it later - that might be a rounding error. I have
the STS stops displaying at larger numbers for instruments that are
higher priced such as on the indexes rounding to the nearest 5 or
10 points. For IWM is rounds to 192.5, looks like every 0.25
increments for the display but when I look at the system the
actual stop before pre rounding is 192.24. So the rounded
price must be being displayed in the chart and table, I'll ask the
developer
otherwise remember this stuff is not exact science. Some people
like to wait for a close confirmation, or what I do at times is
I'll keep the stop in place, and if I'm stopped out, I'll go and
look at the chart inta day, 5 min, 15 min and monitor it, if price
goes back above that STS price before the close I'll just renenter
and use that stop again.
as far as the market - there's still possible chance that
move down was a wave A and this bounce forms a lower high
wave B, then down again in C -which if that's the case, best
to be out or you would simply get stopped out next time on that
wave C down. Again what matters is your position/no position, if
you stopped out you stopped out regardless if it shows on the
tables or not, which again I"ll discuss with James later on - he's
West Coast and a developer - those guys stay up late and get up
late and being in Portland he's already 3hrs behind NYC time
Thanks for explanation. I'm not so nimble, have to put
stop order in, have to wait for settled cash to buy again.
I'll just miss some. I'm waiting for wave C to buy
again.
hubrick - I'll add that even though the system enters at the
close - on the tables it's doing the calculations on the %G/L using
prices on the next day open for the entry. So if IWM went long on a
Monday at the close, the entry price uses Tuesdays' morning open -
assuming a real world scenario where most folks are not setting the
trade until that evening or entering after hrs and waiting to enter
the next day
Posted by kingpin15 on 10th of Jan 2024 at 09:39 am
THE STS are end of day. XOP is perfect example, went below the
STS Jan8th. Yet remains a long. (my alert went off, i checked
the stock and have a rule NOT to close longs until hour before end
of day. As matt said, this isnt an exact science. you need a
process.
again best for after hrs discussion, and look over my post. Also
folk trade them differently. Yes the easiest method is to use the
STS stop, and stick to it. Like I said if you did, then price hit
your stop - the trade locked in 9.1% gain from entry to that stop.
Some choose to use the STS stops more end of day, may stop
out that day and simply re-enter long at the close if price closes
back above it - I do that quite a bit. And as I discussed in my
post - there could be a rounding issue with the stop displayed and
what the system is actually using, which is why I said I'd be
consulting with the developer to go over all that - did you read
that? point is, I can't confirm all that or clarify or tell you we
found something and here's the change we made until after I talk to
him.
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IWM should have gone flat
Posted by hubrick on 10th of Jan 2024 at 07:14 am
IWM should have gone flat with a stop on Jan 5 - STS was 192.5 and the low that day was 192.29. My stop loss order was hit, yet the table still shows it long.
I'll look into it later
Posted by matt on 10th of Jan 2024 at 09:14 am
I'll look into it later - that might be a rounding error. I have the STS stops displaying at larger numbers for instruments that are higher priced such as on the indexes rounding to the nearest 5 or 10 points. For IWM is rounds to 192.5, looks like every 0.25 increments for the display but when I look at the system the actual stop before pre rounding is 192.24. So the rounded price must be being displayed in the chart and table, I'll ask the developer
otherwise remember this stuff is not exact science. Some people like to wait for a close confirmation, or what I do at times is I'll keep the stop in place, and if I'm stopped out, I'll go and look at the chart inta day, 5 min, 15 min and monitor it, if price goes back above that STS price before the close I'll just renenter and use that stop again.
as far as the market - there's still possible chance that move down was a wave A and this bounce forms a lower high wave B, then down again in C -which if that's the case, best to be out or you would simply get stopped out next time on that wave C down. Again what matters is your position/no position, if you stopped out you stopped out regardless if it shows on the tables or not, which again I"ll discuss with James later on - he's West Coast and a developer - those guys stay up late and get up late and being in Portland he's already 3hrs behind NYC time
Thanks for explanation. I'm not
Posted by hubrick on 10th of Jan 2024 at 10:16 am
Thanks for explanation. I'm not so nimble, have to put stop order in, have to wait for settled cash to buy again. I'll just miss some. I'm waiting for wave C to buy again.
hubrick - I'll add that
Posted by matt on 10th of Jan 2024 at 10:25 am
hubrick - I'll add that even though the system enters at the close - on the tables it's doing the calculations on the %G/L using prices on the next day open for the entry. So if IWM went long on a Monday at the close, the entry price uses Tuesdays' morning open - assuming a real world scenario where most folks are not setting the trade until that evening or entering after hrs and waiting to enter the next day
THE STS are end of
Posted by kingpin15 on 10th of Jan 2024 at 09:39 am
THE STS are end of day. XOP is perfect example, went below the STS Jan8th. Yet remains a long. (my alert went off, i checked the stock and have a rule NOT to close longs until hour before end of day. As matt said, this isnt an exact science. you need a process.
Is the STS stop intraday
Posted by zwyss on 10th of Jan 2024 at 07:32 am
Is the STS stop intraday oder end of day?
How would you put in
Posted by hubrick on 10th of Jan 2024 at 09:58 am
How would you put in a protective stop loss order if it's end of day?
again best for after hrs
Posted by matt on 10th of Jan 2024 at 10:03 am
again best for after hrs discussion, and look over my post. Also folk trade them differently. Yes the easiest method is to use the STS stop, and stick to it. Like I said if you did, then price hit your stop - the trade locked in 9.1% gain from entry to that stop. Some choose to use the STS stops more end of day, may stop out that day and simply re-enter long at the close if price closes back above it - I do that quite a bit. And as I discussed in my post - there could be a rounding issue with the stop displayed and what the system is actually using, which is why I said I'd be consulting with the developer to go over all that - did you read that? point is, I can't confirm all that or clarify or tell you we found something and here's the change we made until after I talk to him.