http://www.timothysykes.com/wp-conte...lercoaster.gif
Printable View
I bought in at 0.90c and put a trailing stop loss in about a month ago, when it dropped to $14.85 it got triggered but the spreads were such that it sold at $14.30. Not going to get into it again as I guess that was once in a lifetime.
How did you do the trailing stop loss and what parameters did you need to provide and why?
I just manually adjusted a stop loss each day to trail the current price. I needed to supply a trigger price and a limit price, the trigger is what I adjusted, the limit was the point below which the sale would be stopped. Alternatively I could just put market price as the limit. I used $11 as the limit.
I was going to ask this forum about whether this was the right approach but my account with this forum was only just validated so it sold before I could ask. I do find liquidity on the NZX a problem and have moved my gains over to ASX where hopefully sales are made as soon as the stop loss is triggered. In any case I am happy with how it turned out.
Given that the close the close the previous day was $14.90 a stop at $14.85 is really tight, it leaves no room for the normal noise in a days trade. A few % percent (not cents) below is fairly tight.
Also when you get the sort of run that happened that day with a sudden lack of buyers then the price you can actually get can be significantly lower than your stop. You will find the same thing happening on the ASX for a similar type of stock.
Not a fan of automated stops myself and never use them. I like make to make my decisions on slightly more than the instantaneous price.
On the bright side you can claim to have got out near the top (for now).
Best Wishes
Paper Tiger
The Bots appear to be back again. Nipping off chunks of 39 and 40 shares. I wonder why they don't just take out the blocks that are available. They are buying at $13.73 for instance and there is over 2000 available. Surely they would just grab it all. Not sure how this works....
Very interesting news today - MYOB is buying BankLink:
http://myob.com.au/myob/news-1258090...=1257830925621
I agree with him in part. When ever someone buys a competitor, you expect some of those customers to be lost, so Xero is the natural beneficiary.
That is if you were using Banklink as you hated MYOB, being forced to use MYOB may cause you to change. That is why ANZ held onto the National Bank brand for so long and lost customers as a result of the merger.
I work at an accountancy firm and the accountants here rate Xero as head and shoulders above banklink. In fact just about all banklink clients were transferred to Xero prior to me starting here. Banklink seems to have a foothold in the rural sector as Xero does not seem to handle farming that well. Banklink also has a per transaction cost so if you are a high volume business it can get quite expensive to use whereas with Xero you are capped at the monthly price plan you opt for. The xero plans are based on transaction volume mainly.