Posted by DigiNomad on 10th of Apr 2024 at 12:03 pm
Hit, but doesn't count because it wasn't on a closing basis,
right?
Days like today, I'm checking my trades list for names that
got hit and bounced (so far today, it's only happened with
PAVE...which of course bounced after stopping out). I HATE that
about stops and closing basis systems. It's on my list to
program stops externally and have them sent to market only when
triggered. That will more easily allow conditions like "only
trigger if price < X at close. Reset each day until filled).
These guys do allow conditions like that to be set:
https://interactivebrokers.capitalise.ai/
Posted by mastermind on 10th of Apr 2024 at 02:09 pm
It's a two edged sword - sometimes good to have stop in place,
sometimes not. I do a mix, but mostly for STS tables, I place a
market stop. SMCI is an exception for me.
again - the STS stops on the standard tables are as of closing
basis, not a hard stop intra day. Other options are to use them as
a stop and if price closes back above go back long.
the high performance will use hard stops however. And yes
sometimes they get hit and prices rebounds, but generally these
systems will go back long quickly anyway - I saw this on UPRO and
SLV recently, where they hit their stop then went back long a week
later or a couple days later.
And sometimes the high per KISS systems will stop out intra day
ONLY to go back long again that same day at the close!
and as always even though the systems are good and preform over
time, traders can and should also review the stocks/ETF's on their
own charts, look at multiple time frames and you may elect to have
a different stop based on a trendline or major MA, or higher low
that you see on your chart.
again everyone has different trading style, goals, risk
tolerance, etc,
I added additional text to that post, but if you didn't see
it,
And sometimes the high per KISS systems will stop out intra day
ONLY to go back long again that same day at the close!
here's an example of that behavior where the KISS system was
long on the 345 minGC gold futures where I have the system
automated, hit the stop, then went back long on the same BAR! YOU
can see this happening twice here
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SMCI hit STS.
Posted by arun on 10th of Apr 2024 at 11:58 am
SMCI hit STS.
Hit, but doesn't count because
Posted by DigiNomad on 10th of Apr 2024 at 12:03 pm
Hit, but doesn't count because it wasn't on a closing basis, right?
Days like today, I'm checking my trades list for names that got hit and bounced (so far today, it's only happened with PAVE...which of course bounced after stopping out). I HATE that about stops and closing basis systems. It's on my list to program stops externally and have them sent to market only when triggered. That will more easily allow conditions like "only trigger if price < X at close. Reset each day until filled).
These guys do allow conditions like that to be set: https://interactivebrokers.capitalise.ai/
interactivebrokers.capitalise.ai
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It's a two edged sword
Posted by mastermind on 10th of Apr 2024 at 02:09 pm
It's a two edged sword - sometimes good to have stop in place, sometimes not. I do a mix, but mostly for STS tables, I place a market stop. SMCI is an exception for me.
again - the STS stops
Posted by matt on 10th of Apr 2024 at 02:13 pm
again - the STS stops on the standard tables are as of closing basis, not a hard stop intra day. Other options are to use them as a stop and if price closes back above go back long.
the high performance will use hard stops however. And yes sometimes they get hit and prices rebounds, but generally these systems will go back long quickly anyway - I saw this on UPRO and SLV recently, where they hit their stop then went back long a week later or a couple days later. And sometimes the high per KISS systems will stop out intra day ONLY to go back long again that same day at the close!
and as always even though the systems are good and preform over time, traders can and should also review the stocks/ETF's on their own charts, look at multiple time frames and you may elect to have a different stop based on a trendline or major MA, or higher low that you see on your chart.
again everyone has different trading style, goals, risk tolerance, etc,
I added additional text to
Posted by matt on 10th of Apr 2024 at 02:22 pm
I added additional text to that post, but if you didn't see it,
And sometimes the high per KISS systems will stop out intra day ONLY to go back long again that same day at the close!
here's an example of that behavior where the KISS system was long on the 345 minGC gold futures where I have the system automated, hit the stop, then went back long on the same BAR! YOU can see this happening twice here