Some people just use their position window to close half or all with market orders...some look at position window P&L, and monitor and close normally. Some have pretty elaborate programs to alert, send in trailing stops...all sorts of ways have been used over the years. Don
Sleepy week. +45 on Monday, -180 Tuesday, no fills Wed/Thur, and one scratch fill on Friday. Let's see if the Steelers can salvage their season against the Bears on Sunday...
Don, Thank you for the response. Interesting strategy. I've read enough of your thread (sorry if I haven't yet read all of the thread vhehn) to see that you really are a gentleman. Thanks again.
Some people use the P&L monitor, but I find that to be lacking. Suppose a stock spikes up 30c and then retraces 15c while you aren't looking at it. Now you look at it and think "OK, I'm up 15c in that stock" when in reality, you actually just gave up half your profit on that stock! RediPlus has a few very nice features that make it easy to see that scenario. You really have to get in and learn about the platform in order to set it up properly. Most traders don't make the best use of their tools (trading platform in this case) that they should. I have a plumber's snake that you can hand crank or easily attach it to an electric drill and let the drill turn it. Can you imagine a plumber that would have a tool like this and only use the hand crank? That's the way A LOT of trader's are with their platforms. It's a shame! ( but less competition for me ) Cash
i'm using ib along with esignal. still i would think that is is difficult to track anything over 9 or 10 open positions. automated closing of positions after they reach certain points seems to be the way to go.
Cashonly wrote: Some people use the P&L monitor, but I find that to be lacking. Suppose a stock spikes up 30c and then retraces 15c while you aren't looking at it. Now you look at it and think "OK, I'm up 15c in that stock" when in reality, you actually just gave up half your profit on that stock! RediPlus has a few very nice features that make it easy to see that scenario. .... ---- Cashonly, could you please post one or two screenshots of these "few very nice features" that you are referring to? I've been anxious to find these features anywhere, and have yet to find them anywhere. If you have them over at Bright, I would love to see them. Thanks! ++ Math_Wiz
30 Orders/15 Stocks, 2 fills Winner: ABT (Long 1 cent) Even: SLE (Long) I was long ABT at 38.80, and was 11 cents in the $$ for ABT, but I didn't take it out.... thought it would close the gap somehow with the S&P futures gapped up 4 points... well.. guess i was wrong, but at least managed to break even on it b4 it tanked further :eek: Back at it tmr...
9 fills 8 short/1 long .6 envelope. 5 winners 4 losers +$780 If i held them all for a few minutes longer, wouldve picked up 20 cents on EACH one. Oh well...you live, you learn.