You should have to assume I was new once? That should be a given. Perhaps you can reword your opening statement then, because it sure looks to me like you are saying you took on a huge position after hours and cannot protect yourself. But now that you have explained it more thoroughly I see, if your position is large enuff it might be cost-efective to hedge with SSF's or options. Oherwise, there really is no protection and therein lies the reason why so many traders fear holding positions overnite. Of course the best protection is diversification.
What are you whining for? you took a position after the close and you are paying for it......Was it a great winner or where you flat or down at the close? What was your reason for taking it?
these huge positions were not taken by me - but by participants in afterhours trading - meaning that my stock opened more than 10% lower than the price it closed at - so - my query about how to protect an open position in these circumstances is relevant. I have been trading since March - and have not had a duff - that means a stock which has failed to make money - since I started - I check the effects of afterhours trading before each market opens - but this - even you have to admit - is exceptional Also - my broker closed me out before he allowed trading in the stock - which really p--ed me off! Any suggestions? helpful ones preferred.
God - another trader seemingly also unable to read!!!! See next bit of thread and if you have nothing helpoful to say - say nothing
ABF Most traders are busy during regular trading hours so give them some time to answer your question before whining that nobody is answering your questions. Also, as the majority of users here are American, you shouldn't assume that everyone will understand your UK slang. Now as far as your question is concerned, if you're not prepared to accept the risk that comes with holding overnight there are only 2 things that you can do. Either hedge your position or close your position and reopen the next day. As I don't trade stocks or options, I will leave it up to others to explain the best way(s) to hedge. Now if you should decide that you will close your position and reopen it the next day you can't complain if you miss out on an afterhours move that goes in your favor. There isn't any reward without some risk attached. Also a 10% adverse move, although large, will not be your largest if you stay in the game for the long term and hold most of your trades overnight. I've had a 50% overnight drop, while using 2:1 margin, that cleaned out an early small trading account. It can happen.
You certainly are a snotty little ass for someone who asked such a foolish question in the first place, and even with only 6 posts to your name I am happy to put you on my ignore list. There is no way to protect yourself from other traders in after hours action, other those those replies that have already been given to you by people who you have insulted. (1) Don't trade after hours, (2) Take an offsetting position, for example, in an option. You are expecting what? Someone to rush to your rescue and change your diapers?
I am not whining about lack of response - there seem to be plenty of traders on your site who are unable to read what I posted initially but who have plenty of time to slap me down - giving the impression that you were all born experienced traders with some form of dyslexia Hope people were more helpful to you when you started out.
Another trader unable to read I am not - repeat not - trading afterhours - since my broker is then closed - but am suffering the effects of traders who effect prices drastically before the market opens again All of you had to start somehwere - but obviously most subscribe to the philosophy of putting your boot in the face of the person behing you on the ladder Thanks a bunch folks Please do not reply