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The gap open thread reminds me of a problem I face putting an order just in case there's a gap up/down open.
I only give order to my broker in the morning before market opens with stop/limit/MIT.
Let me explain with examples.
Let's say I'm bullish bean and want to go long tomorrow at just 1 or 2 ticks above today's high.
If I put a buy stop at 638 and market gaps open higher,,say 645 and moves down (the phonemon "open" thread was addressing) and closes lower, I lose even thou I'm right about the direction of the market.
So,,,I thought about using limit/Or Better order. This way I could avoid getting filled at gap open,,,but have to face another problem with stop-losss order when there's big gap. With above bean example, I give to buy 638 OB and sell-stop at 630. Now market gaps down big time and opens at 625 and certainly I'll get filled for my 638 OB order.
But what happens to my sell-stop order??? Is it gonna filled automatically?? then I only trade to lose commission and slippage??
If there's anyone who can't afford monitor the marker during the hours and still trade successfully with successful way of giving orders,,,maybe help me???
Regards,,,
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