posted
Thanks for the help on this board. I have learned a lot. Here is probably a very simple question. I have an etrade account. If I want to put a trailing stop in case a stock that is running turns do I use stop limit, or stop. Can somebody please explain the mechanics so I don,t place a sell order and have the mm's come back and take 12 percent from me. Any suggestions relating to this topic would also be appreciated.
Thanks again
10of13
posted
Welcome ...I personally dont use this feature...It has been said...and I tend to agree, that the MM's are able to "see this" and will bring the price down, if they need or want those shares, and take them right away... so I use a mental stop so to speak...there are traders that do utilize this feature...and I am sure the will also post... You can also do a search for the info...I know that it has been discussed before...in other threads... try this... http://www.allstocks.com/stockmessageboard/cgi-bin/ultimatebb.cgi
posted
I considered using trailing stops for a while but concluded, like 10of13, that they're not appropriate for pinks.
Too volatile--what sort of stop would protect your capital yet not eject you at the first shake? Like it or not, those backtracking moments in the run are gut-check time. And your computer has no guts.
32counter
posted
Thanks fellas, I agree with what you are saying. My sister in law lost a substantial amount when the mm came back and bought and immediately went back to the price. I made great gains in NLST yesterday and gave them all back today when CHRIS fizzled overnight. Should have been around in the morning I guess. Thanks for the edvice
posted