Monday, November 30, 2009

Let me splain. No, there is too much....Let me sum up. ...

. Monday, November 30, 2009

Limit orders vs. Stop orders

The reason I gravitated to a break-out system is because although it cant be programmed, it is easily the most mechanical way to trade.

1. You see the formation shaping up
2. You scan the indicators
3. If they pass the test, put the stop order in right away ON A STOP
4. Your are using the DOME, so its all programmed in; no worries there


1. You can look at other markets
2. You can talk to your children
3. You can turn your head away from the screen
4. Limit orders are counter productive using my method
5. I want a fill and I want it when the B/O is hit
6. I DON'T WANT the market backing up to me-I don't want a better fill, I want a B/O !
7. If you put in a limit order after the fact, what if you miss? Are you going to
Who needs the aggravation? Heck, you needs the question?
8. If you chase, the market will turn on you...If you don't chase, you will miss the
trade of the week...Just the way it is...
9. If the market changes...a big report is looming...whatever, use the cancel
button...easy, and no second guessing.

Any questions?