Stop Loss Order Returns More Loss

Yes you can use stop limit to exit but it's a dangerous game.....what if price gaps right through your order and never picks you back up.

 

Correct stop limit 50.20 with an offset say 2 which means when price trades at 50.20 or better you will place a limit order if 50.22...most Times you'll get filled at 50.20, other times 50.21 or 50.22, rarely you won't get filled at all.

 

Thanks algofy,

Yes, I agree. I will stick to stop market order when exiting.

 

I remember long ago I used a stop and limit order as I was tired of getting slippage, what should have been worse case $200 loss became $450 loss cause price blew right through my stop and by the time I called the floor, it was filled really too much. We all learn the hard way.
Three months, wow, that is really nothing, guessing since you doing Topstep, it not your money? Easy come and easy poof. Good luck,

 

Yes I do experience the same thing. By the way, This could be a reason why I found that there is excess selling above a round number and excess buying below a round number...traders set their stop/limit orders at a round number. But because of slippage, trades are initiated just above and below a round number. Previous literature suggested that traders are biased by a round number and thus just below a round number seems substantially lower than a price a penny higher ($9.99) as discussed in marketing and sales research. if this is right then my results are correct that threshold trigger at round number is the most dominant round number effect but I could not find a reason why because literature report differently. Thanks very much simple, now I understand why I got threshold trigger effect at round number as the most dominant round number effect

 

This is very tight, given the multi-dollar swings this week. You could be stopped a few seconds after entry. Sounds like you're undercapitalized and trading scared.

 

15 ticks is suicide to account

 

Thanks Deuteronomy_24_7,

What stop loss range do you recommend? I am also testing 22 tick stop placement.

 

You might want to stop trading since you're asking this. Only you know this because only you know your strategy (if you have one). It entirely depends on what you're doing, no-one else can help.

OP might want to consider using something similar to IB's Adaptive orders or relative orders if on equities. This has it's downsides and upsides, there's not clear answer.