Comments on: Stop It! http://www.thestockbandit.net/2006/09/06/stop-it/ Trading blog with trading insights, discussion on swing trading, day trading, and trading psychology. Fri, 16 May 2008 02:35:49 +0000 http://wordpress.org/?v=2.0.9 by: TheStockBandit http://www.thestockbandit.net/2006/09/06/stop-it/#comment-70389 Sat, 03 May 2008 21:20:37 +0000 http://www.thestockbandit.net/2006/09/06/stop-it/#comment-70389 Hey Mike, trailing stops are a great feature for traders to use, thanks for your comment and come back often! Jeff Hey Mike, trailing stops are a great feature for traders to use, thanks for your comment and come back often!

Jeff

]]> by: mike hart http://www.thestockbandit.net/2006/09/06/stop-it/#comment-70369 Sat, 03 May 2008 17:26:26 +0000 http://www.thestockbandit.net/2006/09/06/stop-it/#comment-70369 As an option trader, I always needto find a breakout moment, once inthetrade, thefirst thing I do is set up for a quick exit. If the trade moves well I set up a stop loss and one that moves, as the trade moves. As an option trader, I always needto find a breakout moment, once inthetrade, thefirst thing I do is set up for a quick exit. If the trade moves well I set up a stop loss and one that moves, as the trade moves.

]]> by: Stop Loss Discussion | TheStockBandit.net http://www.thestockbandit.net/2006/09/06/stop-it/#comment-67068 Sun, 20 Apr 2008 18:52:41 +0000 http://www.thestockbandit.net/2006/09/06/stop-it/#comment-67068 [...] I’ve discussed the subject of using the stop loss order here before, and it’s one habit that I think is imperative for traders who care anything about consistent results and capital preservation. [...] […] I’ve discussed the subject of using the stop loss order here before, and it’s one habit that I think is imperative for traders who care anything about consistent results and capital preservation. […]

]]> by: Practical Risk vs. Reward | TheStockBandit.net http://www.thestockbandit.net/2006/09/06/stop-it/#comment-42744 Fri, 11 Jan 2008 13:59:51 +0000 http://www.thestockbandit.net/2006/09/06/stop-it/#comment-42744 [...] A close friend of mine began trading a few months ago, and in his first days we had a discussion about some things he needed clarification on. We discussed order types and stop losses and why chart patterns tend to repeat themselves, but then he asked this question: [...] […] A close friend of mine began trading a few months ago, and in his first days we had a discussion about some things he needed clarification on. We discussed order types and stop losses and why chart patterns tend to repeat themselves, but then he asked this question: […]

]]> by: Welcome Barron’s Readers! | TheStockBandit.net http://www.thestockbandit.net/2006/09/06/stop-it/#comment-34608 Sat, 10 Nov 2007 17:19:28 +0000 http://www.thestockbandit.net/2006/09/06/stop-it/#comment-34608 [...] Here are a few how-to articles I’ve written… *How to Grow Your Trading Account (Part 1) *How to Grow Your Trading Account (Part 2) *Gauging Urgency in Chart Patterns *3 Keys to Buying Dips *Finding Short Sale Candidates *Stop It! *How I Use Worden’s TeleChart 2007 *Watch List Management *Blending Your Style With the Current Environment [...] […] Here are a few how-to articles I’ve written… *How to Grow Your Trading Account (Part 1) *How to Grow Your Trading Account (Part 2) *Gauging Urgency in Chart Patterns *3 Keys to Buying Dips *Finding Short Sale Candidates *Stop It! *How I Use Worden’s TeleChart 2007 *Watch List Management *Blending Your Style With the Current Environment […]

]]> by: TheStockBandit.net » Trading Intentions vs. Trading Actions http://www.thestockbandit.net/2006/09/06/stop-it/#comment-4388 Thu, 01 Feb 2007 14:46:42 +0000 http://www.thestockbandit.net/2006/09/06/stop-it/#comment-4388 [...] It’s your money, so be vigilant! Set your stop loss as soon as you get filled on your entry, and trail it higher as the trade progresses. Personally I do this with conditional orders through CyberTrader because they let me specify exactly what needs to happen to trigger an exit, but even a plain-Jane stop loss will do the job better than a mental stop, so use whatever tools you have at your disposal and turn your trading intentions into actions! [...] […] It’s your money, so be vigilant! Set your stop loss as soon as you get filled on your entry, and trail it higher as the trade progresses. Personally I do this with conditional orders through CyberTrader because they let me specify exactly what needs to happen to trigger an exit, but even a plain-Jane stop loss will do the job better than a mental stop, so use whatever tools you have at your disposal and turn your trading intentions into actions! […]

]]> by: TheStockBandit.net » HOPE is Not a Trading Strategy http://www.thestockbandit.net/2006/09/06/stop-it/#comment-1860 Wed, 27 Sep 2006 18:49:57 +0000 http://www.thestockbandit.net/2006/09/06/stop-it/#comment-1860 [...] HOPE is not a trading strategy! The market doesn’t care what side you’re on, and it has far greater staying power than you do. Arguing with the market is a futile endeavor, so the best we can do is to quantify our risk before putting trades on, and once our stop loss levels are hit we’ve gotta exit. The hard part isn’t knowing when you’re wrong (your P&L will tell you at all times). The hard part is replacing that hope of a miracle with the resolve to take action and stop losing (they call them ’stop loss’ orders for a reason!). [...] […] HOPE is not a trading strategy! The market doesn’t care what side you’re on, and it has far greater staying power than you do. Arguing with the market is a futile endeavor, so the best we can do is to quantify our risk before putting trades on, and once our stop loss levels are hit we’ve gotta exit. The hard part isn’t knowing when you’re wrong (your P&L will tell you at all times). The hard part is replacing that hope of a miracle with the resolve to take action and stop losing (they call them ’stop loss’ orders for a reason!). […]

]]> by: TheStockBandit.net » Keep it Orderly http://www.thestockbandit.net/2006/09/06/stop-it/#comment-1761 Tue, 12 Sep 2006 18:47:43 +0000 http://www.thestockbandit.net/2006/09/06/stop-it/#comment-1761 [...] When I’m asked which order types I prefer, I do have a simple answer. Whether you’re placing orders through your browser or using a direct-access trading platform like CyberTrader Pro, your best bet is usually going with the Market Order. I use a ton of Market Orders for two main reasons. First, when I get a signal, the thing I want most is to be IN that trade (or OUT of it in the case of an exit signal). The last thing I want is to mess around and get greedy or cute to try to save a couple of pennies and risk missing out on a far bigger move. That would be the epitome of “tripping over pennies on your way to dollars.” Second, with spreads as narrow as they are these days and stocks trading in penny increments, slippage is far less of a concern. Back in the good ol’ days when stocks traded in fractions, it was one thing to not want to pay up by 1/8 or ¼, but now days “chasing” a stock and eating the spread usually just means a few pennies. My feeling is that “paying up” will hardly mean the difference between me being a profitable trader or not. I know what the hard part of trading is, so I’m not afraid of paying a few pennies more in order to catch a nice move. Because I’m primarily a swing trader, I’m looking for multi-point moves, so 3 or 4 cents is an afterthought. [...] […] When I’m asked which order types I prefer, I do have a simple answer. Whether you’re placing orders through your browser or using a direct-access trading platform like CyberTrader Pro, your best bet is usually going with the Market Order. I use a ton of Market Orders for two main reasons. First, when I get a signal, the thing I want most is to be IN that trade (or OUT of it in the case of an exit signal). The last thing I want is to mess around and get greedy or cute to try to save a couple of pennies and risk missing out on a far bigger move. That would be the epitome of “tripping over pennies on your way to dollars.” Second, with spreads as narrow as they are these days and stocks trading in penny increments, slippage is far less of a concern. Back in the good ol’ days when stocks traded in fractions, it was one thing to not want to pay up by 1/8 or ¼, but now days “chasing” a stock and eating the spread usually just means a few pennies. My feeling is that “paying up” will hardly mean the difference between me being a profitable trader or not. I know what the hard part of trading is, so I’m not afraid of paying a few pennies more in order to catch a nice move. Because I’m primarily a swing trader, I’m looking for multi-point moves, so 3 or 4 cents is an afterthought. […]

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