stops don't get elected if the market is bid at your stop.
a trade must be made at the price for it to elect. You
should call your clearing house and get AXAS
reversed.
as far as AHD goes, well, that's just tough luck and part of the
game.
keep in mind trading these super thin stocks is different
than trading deep stocks. you need to be more careful
about when and how you place your stops. many times
i'll use stop close only, which is more risky but
avoids market maker flushes. otherwise
i won't leave them out there for the open if price is close to
my stop. i trade out myself. If price is
away, I'll enter after the opening 5 or 10
min.
stever, stop at the close means at the close of the bar, if I
understand you. What time interval are you setting your bar to?
Thanks for the information.
No, at the close of the DAY. your stop will only be
elected if the closing price of the day is beyond your stop
level. for example, using AHD, if you have a 6.55
sell stop close only, your stop would not have been
elected at the low earlier today. only if it closes at
or below 6.55 at the end of the day. if it doesn't, you're
still alive in the trade, which at the current 6.85
price, is looking good. as I said, it's
more risky because price can end up at 6.00 and you'd be exiting
there. But on the other hand, you avoid getting taken
out during stop seeking intraday flushes and
spikes. hope that helps.
I don't think that takes the risk out either, I don't see that
there is a good option for me at this time. I've been on the phone
with the SEC for what that's worth.
If any one else wants to complain about this practice send an
email to
I talked to both Schwab and TDameritrade and they both said it
was subject to the bid and not the trade. But you are right,
If I'd place a "Stop Limit" this wouldn't have happened on AXAS but
it still would have on AHD. It's just a problem for me as I
don't always have the time to sit here and watch all day. I tend to
catch the open and close of the markets but try to do other things
during the day. It's always the open when this happens so I may
just change my way of placing stops. turn them on an off every
morning.......
Thanks for the input.
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stops don't get elected if
Screwed twice at the open
Posted by steever on 7th of Jan 2010 at 10:22 am
stops don't get elected if the market is bid at your stop. a trade must be made at the price for it to elect. You should call your clearing house and get AXAS reversed.
as far as AHD goes, well, that's just tough luck and part of the game.
keep in mind trading these super thin stocks is different than trading deep stocks. you need to be more careful about when and how you place your stops. many times i'll use stop close only, which is more risky but avoids market maker flushes. otherwise i won't leave them out there for the open if price is close to my stop. i trade out myself. If price is away, I'll enter after the opening 5 or 10 min.
good luck.
Title: stop at the close stever,
Posted by junkie on 7th of Jan 2010 at 10:44 am
stever, stop at the close means at the close of the bar, if I understand you. What time interval are you setting your bar to? Thanks for the information.
No, at the close of
Posted by steever on 7th of Jan 2010 at 11:10 am
No, at the close of the DAY. your stop will only be elected if the closing price of the day is beyond your stop level. for example, using AHD, if you have a 6.55 sell stop close only, your stop would not have been elected at the low earlier today. only if it closes at or below 6.55 at the end of the day. if it doesn't, you're still alive in the trade, which at the current 6.85 price, is looking good. as I said, it's more risky because price can end up at 6.00 and you'd be exiting there. But on the other hand, you avoid getting taken out during stop seeking intraday flushes and spikes. hope that helps.
Thanks again, I don't think that
Posted by ditch on 7th of Jan 2010 at 11:22 am
Thanks again,
I don't think that takes the risk out either, I don't see that there is a good option for me at this time. I've been on the phone with the SEC for what that's worth.
If any one else wants to complain about this practice send an email to
help@sec.gov
I talked to both Schwab
Posted by ditch on 7th of Jan 2010 at 10:26 am
I talked to both Schwab and TDameritrade and they both said it was subject to the bid and not the trade. But you are right, If I'd place a "Stop Limit" this wouldn't have happened on AXAS but it still would have on AHD. It's just a problem for me as I don't always have the time to sit here and watch all day. I tend to catch the open and close of the markets but try to do other things during the day. It's always the open when this happens so I may just change my way of placing stops. turn them on an off every morning.......
Thanks for the input.