I guess that is a no comment on this post? Don, Since you brought up your automated account, would you be willing to share the exit and money management aspect of it? I think we all know that "price improvement" can work both ways and it seems like using stops in a total automation mode would get you a lot of horrible slippage on the "money management" side of the equation.
No problem, I guess I just missed the question. I simply automate what I do and teach manually. I can send up to 4 layers of orders with any number of shares. When filled, the program automatically sends in an order to cover half the shares with a 6 - 10 cent profit target. I "can" (and have) used stop loss orders, but prefer to watch the tape, so I generally take that function off. I generally take the second layer off manually as well. If I'm making a serious amount of money, I may simply hit "cover 100%" and be done with it. More gray box vs. black box, but can be set either way. I didn't get any fills today. My niece is up about $10K, primarily on LOW and HD (I took them out). She's been doing really well, just started doing the openings a couple of weeks ago (she recently transferred her 100+ portfolio pairs to my brother and his updated technology, and wanted to get involved with the opens). Anyway, have a Great Holiday...back to it on Wednesday. Don
No fills. Had a lot pulled on news, go figure. You'd think even news would dry up on Christmas Eve. Enjoy the holidays, everyone. I'll be back at it on the 28th.
okay, thanks. I suspected that your exits were a combination of profit targets automated and manual. Using stops would seem to be a recipe for getting bumped out with maximum slippage. Good Holiday to all.