tobo
06-11-2008, 06:01 PM
I thought a stop-loss order would prevent losing lots in these volatile times.
But I just had an annoying experience.
Yesturday I set stop-lost sell trigger at 2.71 (with limit 2.68). In this case it was for PDN.
The price was in the 2.80s.
It closed at 2.77.
Well.... it opened at 2.60, which triggered my order but because the opening was already lower than my limit, no sale. Of course you know it - it dropped another 11 % today, didn't it, so that's how much I lost. (Still holding so may go lower)
What do people do? set the stop-loss to sell at market? (I never do anything at market, always with a limit, in case ASB are slow off the mark.)
ToBo
But I just had an annoying experience.
Yesturday I set stop-lost sell trigger at 2.71 (with limit 2.68). In this case it was for PDN.
The price was in the 2.80s.
It closed at 2.77.
Well.... it opened at 2.60, which triggered my order but because the opening was already lower than my limit, no sale. Of course you know it - it dropped another 11 % today, didn't it, so that's how much I lost. (Still holding so may go lower)
What do people do? set the stop-loss to sell at market? (I never do anything at market, always with a limit, in case ASB are slow off the mark.)
ToBo