A 3 cent stop loss on GE for example? That's pretty tight. Am I reading this correctly as one tenth of one percent of a $27.00 stock. FWIW, I don't use stop losses, and I send in a retrace for 50% at 6 cent profit, balance at 25 cent profit. If I close early, auto cancel the other . Don
If you are going to use automation you have to be more specific with your stops, otherwise you will be too tight on some and too loose on others. I suggest starting with beta or ATR.
New spreadsheet that I "paper tested" on monday and tuesday. 6 fills, 2 long winners, 1 long flat, 2 short winners, 1 short loser. Average of 0.22. Biggest day yet on a per share basis and cash basis.
In boot camp, only sent in 12 stocks, filled on 4, all winners (manually, yuk, LOL). Net up 34 cents. Not bad. Don
What is a good number of stocks to start with? I have about 40 stocks, all SP500 with good volume. All are between $20 and $40 to start. I am getting about 10 fills per day so far.
I have my new people pick 20 stocks, between $20-$60 with over 2Mil shares average daily volume. Then I ask that they pick 2 peers (not necessarily pairs), and research all 60. Try to keep within these 60 for the first few months, taking out and adding as things change of course. FWIW, Don
Don can i ask you a question? which ECN when you put before market? Arca or Nyse? thank for your replying