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Kinda new to day-trading here and have a question. Trying to figure out if there is an automated way to do this. I can't be next to the computer 24/7 and if my stock hits 50% or so, I'd like to have it sell. Or if it falls 25%, sell off so i can buy back later at a lower price. Maybe I'm just lookin for the easy way to do things, but I'd feel alot safer this way. Thanks!
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Beware because the online broker may not be able to execute at that price. I have had problems with that on Ameritrade. The may trade right through my limit order rpice but ameritrade doesn't execute the order.
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Jbate217 There is a trailing Stop order you can use. Personally I've never used one just read about it. I think Van uses trailing stops, so he'd be the one to ask to explain it better than my self. I'd like to actually have some one explain it to me as well. I work during the day and don't always get a chance to check on the stocks. If no one answers on a trailing stop order I'll try to look up the article on using them. It could explain it better than my self. I didn't get how and when I could put the trailing stop order on. I didn't have the guts to try it either. I'll go see if I can find the info. Take care! DD
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Ameritrade does not honor stops on OTCBB or PK (limit only) this add greatly to the risk. No point in discussing Stops for this reason. If your broker (not mentioned)will honor a stop (call & find out) repost and I will discuss further. VAN
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Van: This article talks about two types of trailing stops. 1. Hard Trailing Stop 2. RealTick Trailing Stops. The realtick sounds like the one I would use if I could, but I don't even know where you would find a place to use the realticks. Supposedly you can enter the trailing stop of .15 and it will automatically re-adjust for the new highs through ou the day. Supposedly its best for day trading. Of course the example they give isn't a penny stock. Oh well, I'll just have to hope I'm around to do it manually. Thanks for the info though. DD
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SMOKE don't know about this , but sure sounds like a great tool, lets persue this. I have a formula sure like to see it work(although not this board) What article?????. Has the Mrs relaxed the purse yet ?? Made a good profit turn CTKH this week. VAN
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Van: The article is in SFO Stocks Futures & Options magazine - Volume 3, No 1 January 2004 issue. The whole article starts on page 97 titled Seven Ways to Say Good - Bye. The part on trailing stops starts on page 99. I don't know if they actually post their magizine on the internet or not. URL is http://www.sfomag.com I'm going to their site to see. DD
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