I will place trades with a 5% trailing stop. I have been knocked out of the trades when the market price and the bid were not at the stop price. I am told that there are bids lower down the chain that are triggering this. I don't understand why this would happen. It would suggest to me that someone could put a 1 cent bid out for any stock and then trigger everyone's trailing stop. Why am I getting triggered? What can I do besides sit at my computer and follow the market price? Any insight would be appreciated.
OPRT Trailing Stop 3:58pm on 03/16/2023 2.7961 Executed 9:30am on 03/17/2023 2.75
LE Trailing Stop 3:46pm on 03/16/2023 8.185 Executed 9:30am on 03/17/2023 7.925
As a beginner trader for the 2:1 profit 20 cents profit 10 cents stop. Do you think in this market is still viable to still use or would making it 15 cents stop loss be more acceptable? whats your thought on the matter to keep tight stops and to grow a small account in this market?
How the times have changed! I remember when Ross never traded pre-market because of a lack of volume. I think he changed during the 'gamestonk' days, and now I think he trades more premarket than after the open (who cares as long as you're green!)
This is terrible advice.
Ross the Boss
Makes sense
I see, trailing stop loss isn't much effective with scalp trading and the opposite with long trading.
I will place trades with a 5% trailing stop. I have been knocked out of the trades when the market price and the bid were not at the stop price. I am told that there are bids lower down the chain that are triggering this. I don't understand why this would happen. It would suggest to me that someone could put a 1 cent bid out for any stock and then trigger everyone's trailing stop. Why am I getting triggered? What can I do besides sit at my computer and follow the market price? Any insight would be appreciated.
OPRT Trailing Stop 3:58pm on 03/16/2023 2.7961 Executed 9:30am on 03/17/2023 2.75
LE Trailing Stop 3:46pm on 03/16/2023 8.185 Executed 9:30am on 03/17/2023 7.925
As a beginner trader for the 2:1 profit 20 cents profit 10 cents stop. Do you think in this market is still viable to still use or would making it 15 cents stop loss be more acceptable? whats your thought on the matter to keep tight stops and to grow a small account in this market?
For your momentum plays, do you use hard stop losses?
Yep, well explained
Thanks for covering this. I forget you trade a lot pre-market and that makes total sense.
How can I find a brokerage where I can trade in the premarket? TOS doesn't seem to have it available.
How the times have changed! I remember when Ross never traded pre-market because of a lack of volume. I think he changed during the 'gamestonk' days, and now I think he trades more premarket than after the open (who cares as long as you're green!)