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Lazy short entry

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saash
Super Contributor
I didn't see a rally into the close? Not on the TOPI anyway.
anyway, doesn't matter - Simon says red at 4.30 ....... and wall street is busy giving it up - so I'm feeling ok.
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HateGauteng
Super Contributor
Should we look at the bid or last price traded at 4:30?
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saash
Super Contributor
Lol - ask Simon, its his system!
I'm not even sure I've got the trigger and confirm right.
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HateGauteng
Super Contributor
trigger looks correct. It's the confirm I'm worried about. The last trades around 4:30 were green. I'm unsure of the bids.
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Not applicable
Ahhh. But is Simon in?
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SimonPB
Valued Contributor
don't understand how everybody finds it so hard .. yes I in ..
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john_1
Super Contributor
human nature to complicate the simple things..
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Flash
Occasional Contributor
Looking at the market moving right now, I'm guessing that the stop losses will be coming into play sometime soon.... on this short.
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TOPIX
Regular Contributor
Maybe yes, maybe no. Who cares? Like all systems out there, you win some and you loose some. But if you are consistent with this one you can get good returns.
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NJ_1
Frequent Contributor
Lazy stops are on closing price only, not intra-day. Time will tell.
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HateGauteng
Super Contributor
Are you still short or has the system shaken you out?
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saash
Super Contributor
I think a green today above the 15ema takes the system out? (I ofcourse am not the guru!)
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NJ_1
Frequent Contributor
No, just 20% stop loss. The EMA doesn't come into play for exiting.
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earlyret
Regular Contributor
That 20% still confuses me... 20% of ??
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saash
Super Contributor
Of the thing you're trading ? so if its TOPSBX, and you got in on Friday at 48c - I presume the stop is about 39c. I can't see it being 20% of the underlying as sometimes the market won't move that much in a year.
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SimonPB
Valued Contributor
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NJ_1
Frequent Contributor
Your warrant will also be pretty worthless by the time the underlying has dropped 20% ...
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Not applicable
For those of us who missed the entry on Friday (I was sitting in a restaurant with an Omnia trying to get Opera to display OST - almost threw it at a wall eventually), a long opportunity might now present itself today or tomorrow. 30 and 60 is right on top of one another, and price has risen above 15.
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HateGauteng
Super Contributor
Hey. Good point Saash. I took a peek at the rules which was posted a while back. Looked at the chart again and see yesterdays close was above 15ema.
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grommet
Regular Contributor
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