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Just exactly what Stig said happened this morning,,,,gapping down and giving me a lousy fill at 7532.
I just was simply trading range breakout with weekly downtrend.
It gave me a lousy fill,,,but the price couldn't go back into the range,,,and what a relief for me.
Anyway,,,I was worried about gapping down too before I placed my order prior to market open.
I was trying to get a fill just one tick below yesterday's low at 7547,,,and placed a stop order.
I knew if gapped down,,,I would be troubled but couldn't find any other way.
If I placed a limit order and market opened higher in the range I didn't want to take the trade also my price was below the close of yesterday.
I couldn't place MIT either because of the same reason,,,,below the close of yesterday.
I posted a question about placing order in proper way before,,,but I guess it never made to this forum,,,since I never seen a response there after.
Please this time,,,any experienced trader with knowledge about placing order before markets open,,,help me. I need to know how to get away from being filled lousy when there's a gap.
PS:,,,,talking about Range Break out,,,,,there's another candidate,,,,,June Heating Oil.
There's a triple bottom. Also some news from Middle east getting unstable.
*********** REPLY SEPARATOR ***********
On 4/24/98, at 10:45 AM, Stig Olausson wrote:
>With the new era of more contribution in mind I would like to post an
>ananlysis I did a week ago somewhere else. Price have since been jumping
>up and down withing a (in my view) large trading range - entered short - on
>the wrong foot - with too large a position - and my heart has been been
>jumping up and down with price for a whole week.
>
>I choose to post it because we saw the breakout yestersterday and FCK could
>be tradable unless it gaps down today, and with the prospect of prices
>continuing to fall for another one- two weeks this could be a rewarding
>shortsale.
>Price stopped right at the 38,2% retracement of the FX rise yesterday(not
>shown). Let's see if it holds for a while this morning.
>
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