Tips for Taking Smaller Stops -- What works?

Discussion in 'Trading' started by Ken_DTU, May 21, 2004.

  1. Unless your a computer :D

    Like you said....for MOST traders :)

    peace

    axeman


     
    #31     May 26, 2004
  2. cetain platforms allow you to do really cool things when it comes to stops.

    the best one I have seen allows you to configure "thresholds" which are rules that say only place a stop after X amount of contracts have traded and only trail if Y amount of contracts trade at a new price.
    Obviously there is more to it, but it is what I call "intelligent stops" vs. simply throwing an OCO order in.
     
    #32     May 26, 2004
  3. Same thing here.
     
    #33     May 26, 2004
  4. Ken_DTU

    Ken_DTU

    I'd like to see more 'intelligent stop' software out there... for example I use a lot of indicators such as "minimum 8 trades at or beyond a given price", not just a single market print, which would cause a stop on most platforms .. eg using the patter of the tape, and perhaps other market internal type indicators, eg

    'trail stop 37.3- from entry 37.5+ if (a+b+c)" vs just a single at-market print, causing the stop to trigger..

    that's a request for broker software folks.. have configurable multivariable stop software... (do institutional traders have this?)..

    ken
     
    #34     May 26, 2004