vtec9

Judgment withheld until details on the the IAVC (Illiquid Asset Vacuum Corporation) are announced.

cthree

When that happens to me I take a break for a couple of weeks and try to get back in sync.

Tight stops have done nothing but fuuk me every time I use them. I don't bother anymore. I set my stops for 5-10% below my basis when I trade stocks. For options it's too volatile to use stops of any kind.

sahtt

Tight stops on positions you are holding for an entire day/week are just going to be tell you exactly how much $ you are going to lose. 5-10% is good for stuff you are holding for a while, I do the same thing. Obviously when I was talking about individual ticks I was referring to in/out stuff.

I had a decent day, it would have been a great day except for one little trade.



I put out a limit buy [on my software that's just the level 1 price] at 35.50 and just as it took my order it went in to umode. 3-4 seconds it was just stuck, I'm doing everything I can to get the hell out since the stock is screaming. Nothing I can do, specialist puts a hammer up my a$$ and fills me at 39.05. I'm hitting every sell hotkey on my keyboard [several] and it takes my order when the stock is trading around 36-37, then it fills me at 35.05. Luckily I had x00 shares instead of a x,000 shares because I was doing several scalps at once [usually only do two, three tops, I was in four then]. Everyone gets bad luck and everyone loses money, you can't let it control you just like you can't let winners get you too happy. In that one trade I was down almost what I used to make in an entire week. Just like cthree on his options, $hit happens.

If I would have checked the volume, even though my screeners aren't supposed to feed me junk like that, I wouldn't have tried to get in. Took me all the way until lunch to make up for those losses and even then I got lucky a couple times shorting FXI etc. I will not make that volume mistake again. Lots of plays on the news today if you were fast, friend made 7 points of CEG, I made .40 off GE.

jerrypeterson

FYI - SEC is planning to freeze or impose restrictions on Shorting Financial stocks.

http://www.msnbc.msn.com/id/26785712/

Penforhire

I don't even try stops. I'd get shaken out early every time. I've run back-test simulations in Wealth-Lab. I'd love to find something that just works. But I haven't found stops that work, only sets of signals that are worth paying attention to. Maybe if read more TA theory...

PearlwhiteS2k

Is it a good idea to add more AAPL or Rimm at these current prices?

trainwreck

^yes...

ExOdy

I wouldn't. The market has just rallied huge the past 2 days in a row. I'd rather be safe than greedy and wait for a pull back.

Penforhire

A few weeks ago we'd kill for today's price on those two. Just a matter of perspective. Their business hasn't changed in the last two weeks.

PearlwhiteS2k

I added RIMM today and probably on Monday I'll add some more AAPL. Sold out of BMO for a nice 5% gain.