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Let's suppose the Jul Wheat is at 248.0. You think it will continue
UP, so you place a Buy Stop day order at 251.25. The broker then asks
about a sell-stop. Even tho it's a tad close, you give him a GTC
Sell-Stop at 246.0.. Question--- What happens if the Wheat piddles
around for an hour or so, then tanks to 245.00. So, did I get snookered?
Sure, if it had rapidly advanced to 252, before taking a dive, I can
see that it was just lousy luck. This is also the reason why I usually
wait until the buy condition is hit before giving a stop (get me the hell
out order). So---anyone else have any unpleasant experience such as
this??? T.C.
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