TOPI

[Day_Trader]

Simon - I still think it is possible for STD to program our orders to cancel any selling orders before triggering a stop-loss sell. The way that I understand it is that there is no sellling order in place for a stop-loss until it is hit. So lets say I have a selling order on 1000 TOPDWN at 120c and a stop loss at 70c for 1000 TOPDWN. It then moves rapidly down to 70c from 100c. Stop-loss is triggered BUT NO SELLING ORDER PLACED due to 1000 already in the marketto sell - the 1000 at 120c. What I would like is for the STD online trading platform to program or stop-loss orders as such that it instantly see the 1000 at 120c and cancels it and apply that to the stop-loss. Surely this can be done?

[SimonPB]

DT, sure - I'm not saying it's not. Just that frankly the stop loss system has bigger problems that are ahead on the list.

[john_1]

Truth is Boys and Girls. the stop loss system on this site is does not work and more often then not it will cost you money rather than save you money. There is a lack of will to fix it despite Simons mumblings to the contrary. I think it is time that you look for a trading platform that is serrious about looking after its clients interest.

[Q2W]

John I sense that you've been burnt nasty with stop losses?

[john_1]

Dude Just dont use the auto system. We are retail investors on a retail site, with out protection. IT JUST IS NOT GOOD ENOUGH.

[Q2W]

John I hear you, but my reason is because of the lack of DB market makers. @ Simon - I do understand I need to make my stop loss against the MM, but will my order be settled at the lower trades price.

[SimonPB]

Q2W, if I get you? Your warrant/wave stop is ONLY triggered by a trade. So if you stop is at 55c and a trade happens at 55c your stop will trigger and be sent to market, but it will be a limit trade and if you have given no flexability then you will only sell at 55c or higher. That said you can add flexability in that you can instruct to sell (x)cents below stop level 9see probelm as below).

Biggest problem is a trade at 56c (not stopped out), and then next trade at 50c, now stopped out but selling at 55c with issuer at 50c.

Last. if your stop is 55c and DB is at 70/72 and they go off line and best buyer is at 45c, your stop DOES NOT trigger as no sale. BUT if somebody sells to that 45c, then stop will trigger - BUT remember stop is a limit trade, so you ahve defined lowest level.

[Q2W]

Thanks Simon, copy and Pasting that right away.

[Mic]

Good thing I spoke to you this morning Simon. Took profits @ 332 then got back in 326 and bailed for small loss after it failed to make a new high.

[CE]

Mic, just keep one eye on the international markets as well bro.

[SimonPB]

yars CE, how many eyes you got? Only one thing matters - price. Everythign else ne noise.

[CE]

Thanks for the advice Simon, I will not look at international markets ever again.

[Mic]

I like to trade intraday also with higher lows and higher highs, normally signals a go long for me regardless of the other markets.

[SimonPB]

woho CE. Not tellign you what not to worry about (or maybe I was). But point is that there is an infinite amount of info about markets, far more then we can ever use. So I always narrow it down to just a few issues I care about. And eventaully all I worry about now is price, once in all I care about is my exit price. Either it is taking profits (always hard) or being stopped, always easy. When stop is hit I sell, every time.

Further what I do now is just let myself get stopped out, because taking profuts was hard and frankly I always sold to soon or too late. So when it, all I do is watch for my stop to be hit, nice an lazy.

[CE]

I hear what u say, exit I think is propably the biggest "problem" we all have, taking profit or a loss (I did it AGAIN on TOPDWO !!) To get back to the international markets, when I trade TOPI waves, I keep both eyes on what they doing. Chartist made the comment on the DAX, and he is correct. If they all make new hights from time to time, don't you think we follow ? (or other way round)

[SimonPB]

dax had been leading for a while and has also been the best investment in the EU recently (short FT100 and long DAX has been the trade of choice for EU hedge funds for 10 months or so).

problem is this, if your stop is being hit but the dax is moving higher, do you ignore the stop and focus on the dax instead? You've now got a stop on soemthing which in reality bears absolutely no relationship to your actauly risk (risk = the wave you're in). Further what then happens whent he DAX stops leading (as it will oen day)? What we really need is a robust system that works today and will work exactly the same in 50 years time.

But now the other side, if the DAX starts making a new high, then maybe that could be an entry, but the risk is in rands on the JSE so that's where your stop needs to be? my 5c