|
PureBytes Links
Trading Reference Links
|
On Thu, 27 May 1999 10:17:06 -0700 "Steve Karnish" <kernish@xxxxxxxxxxxx>
writes:
>"So, did I get snookered?"
>
>Is this strictly hypothetical? Isn't the contract low 246.75? If
>your
>broker is telling you that the maket touched 246, then you indeed got
>snookered. If you are asking is it legal or common to get filled
>below
>your sell-stop...well, we all have a bunch of stories to spin. Let me
>tell
>you about the time I got filled $3.75 below my stop in lumber. It was
>a
>cold day in February.......
>
>Steve Karnish
>CCT
>
>----------
>> From: tvk2@xxxxxxxx
>> To: metastock-list@xxxxxxxxxxxxx
>> Subject: Buy-Sell Stops
>> Date: Thursday, May 27, 1999 8:07 AM
>>
>> 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.
>>
>>Yes, it was strictly hypothetical. I did enter the trade---but, it
didn't fill the first day. I scared myself into sticking to --Never
Again. Only place Sell Stops After original conditions are met. As you
know, I could have continued on Friday, and actually made ONE POINT
251.25 to 252,25. Just didn't want to ride over the weekend. Wheat has
been good to me in the past Up and Down. T.C.
___________________________________________________________________
>> You don't need to buy Internet access to use free Internet e-mail.
>> Get completely free e-mail from Juno at
>http://www.juno.com/getjuno.html
>> or call Juno at (800) 654-JUNO [654-5866]
___________________________________________________________________
You don't need to buy Internet access to use free Internet e-mail.
Get completely free e-mail from Juno at http://www.juno.com/getjuno.html
or call Juno at (800) 654-JUNO [654-5866]
|