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trailing stop loss

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slips View Drop Down
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Joined: 20 Oct 2009
Posts: 21
Post Options Post Options   Quote slips Quote  Post ReplyReply Direct Link To This Post Topic: trailing stop loss
    Posted: 03 Mar 2011 at 10:17pm
i want to be able to put a stop loss of my own on each share i buy can someone point me now if its possible regards slips
slips
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rbbrain View Drop Down
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Joined: 22 Jul 2006
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Post Options Post Options   Quote rbbrain Quote  Post ReplyReply Direct Link To This Post Posted: 23 Mar 2011 at 1:31pm
Hi Slips,

I was hoping that some others might have been able to provide you with some thoughts here. But let me offer the following:
  1. There are many ways to determine where a Stop Loss could be placed on a stock. We can provide ideas on this if you want.
  2. Once you work out the price at which you want the stop loss, it is very useful to mark this on the chart. You can do this by placing a short Line Segment across the chart (I use red coloured to distinguish from other lines I draw), and then you can rely on the IntelliCharts feature to automatically remember this line on this stock for the next time you display the chart. Or you could "Save" the price chart in a good folder somewhere - it saves the stock, time period, and all indicators and drawing tools that you have placed on the chart.
  3. To Alert you when the real price actually hits this level, you could use something like the SMS alert feature that yoru broker might offer (eg. ComSec does this), or use the BullCharts Alert feature (in v 3.8.6 onwards - I think). Note how the ALert works - wither on Snapshot data, OR on End Of Day data.
Hope this helps address the question. If not, let's know and we can provide more details.

Cheers
Robert Brain (Brainy)
Convenor - BullCharts User Group
Brainy's Share Market Toolbox and BullCharts Tips
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cmacdon View Drop Down
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Post Options Post Options   Quote cmacdon Quote  Post ReplyReply Direct Link To This Post Posted: 17 Sep 2012 at 8:54am
refer Training stop loss indicator posted in Bullscript section
BC User since June 2007
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joea View Drop Down
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Post Options Post Options   Quote joea Quote  Post ReplyReply Direct Link To This Post Posted: 17 Sep 2012 at 6:25pm
slips

In case your are interested in reducing slippage, Elder has a book called
"The new sell and sell short"
In it he grades the trade as follows...The buy grade..
The high of the day minus buy price, divided by the high of the day minus the low
of the day.
This results in a percentage. Above 50% good, above 80% superb.

The sell grade...the sell price minus the low of the day, divided by the high of the day
minus the low of the day.

The trade grade..exit price minus the entry price, divided by the upper channel line
minus the lower channel line.

This relates to day trading, but you can get the gist.


By measuring your performance, you improve you entry/exit strategy.
Therefore you reduce your slippage..(no pun intended).

Just a thought.

joea
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