Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

TOPI

Reply
CE
Super Contributor
The BULL's are back in town ?
0 Kudos
35 REPLIES 35
Not applicable
Futures close-out in the US.Should be good.
0 Kudos
Mic
Super Contributor
CE I got burnt a little yesterday with dwo but got in to dwm at 236 and 246 and 250. hope to recover my loss.
0 Kudos
CE
Super Contributor
Got slaughtered myself bro. I thing it was a good move you did, futures looking up this morning. Good luck.
0 Kudos
Beep_Beep
Super Contributor
About time, I been caught on the wrong side for two weeks running now. Topdwo certainly hurts - not sure this trading without a stoploss on the waves work. I am thinking of going back to conservative stoploss principle again.
0 Kudos
SimonPB
Valued Contributor
BB, I can promise you that "trading without a stoploss", regardless what you're trading, has only one outcome - bankrupt.
0 Kudos
Day_Trader
Regular Contributor
Beep Bep - agree with you! However with STD online's current system should you put a stop loss in place, as well as a selling order the stop loss will be cancelled as soon as it hits as the system see an amount to sell. So be careful!! I got caught out twice in one day!
0 Kudos
Mic
Super Contributor
I agree Simon but on the waves the drop on opening is sometimes so big that it misses your stop!
0 Kudos
SimonPB
Valued Contributor
mic, sure - but you still get out ASAP, even if at lower then your stop, otherwise = bankrupt. We can oput together a billion reasons why a stop is a nasty thing, but at the end of the day the only reason why it is good (avoiding banrupt) out ways everything.

Here's what I do when my stop is exceeded in the opening. Say my stop is 80c and the opening is 70/72. I immediately reset my stop to 69c (a cent below the opening bid). If it moves to 69c I exit. BUT if it moves to 71/73, then I move my stop to 70c, then it moves to 72/74 and stop now 71c and so on. As it moves up I keep the emergency stop one cent below the bid until one of two things happens; either my emergency stop is hit OR I get back to the initially 80c stop.
0 Kudos
Mic
Super Contributor
I will try that in future. If I bailed on opening I would still have that cash in hand... thats how we learn!
0 Kudos
Beep_Beep
Super Contributor
Mic/Simon - I changed to trading the waves without a stoploss only when I had been hit a couple of times with a stoploss in place that did not trigger.
0 Kudos
SimonPB
Valued Contributor
well as long as we do learn, expensive but better then nothing?
0 Kudos
Q2W
Super Contributor
Some good advice thanks Simon. The only reason I don't do Stop Loss is because of the wide spread sometimes, that could hurt. Example trading at 70/72 and I have an Stop Loss at 55, then the bids are 70 55 50, as soon as that 70 goes through someone is going to match my stop loss right?
0 Kudos
Not applicable
Beep, like i said yesterday ... i,ll never trade a wave unless iam constantly in front of my PC ... yes it happens stops don't trigger but can then react ... no matter what the trade i'll never trade with out a stop loss, thats the only way i know that ill make more profits than losses
0 Kudos
SimonPB
Valued Contributor
Q2W, not sure I understand you? But ignore all prices except for those from the issuer. So if the issuer is at 70c, and they get taken out, ignore the camper below at 50c, wait for issuer to return.
0 Kudos
Q2W
Super Contributor
Yes that what i'm trying to ask. If my stop loss is at 50 or 55, and the market marker gets out will I be selling at 50/55? Sometimes the market maker is away for long periods.
0 Kudos
SimonPB
Valued Contributor
if the market maker disappears call them and give them hell. But certainly use the MM level for your stops, not other people in the market.
0 Kudos
Beep_Beep
Super Contributor
You right Hennie - back to old stop loss system, lets see what happens today.
0 Kudos
Not applicable
then phone them ... they will buy it from
0 Kudos
SimonPB
Valued Contributor
point is that the auto stop loss on a warrant or wave is at best nasty and at worst, well ask john. One has tyo be able to manage stops, and the higher the gearing the more you have to be able to manage them - and manage = being online in front of a screen, or having some form of pricing info. Igf you can't then these products are not for you, or reduce gearing to a level whereby a small miss of a stop won't kill.
0 Kudos