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Agreed. Don't anyhow stop loss but also don't anyhow hold and hold if you cannot afford it.
iPunter ( Date: 02-Nov-2009 11:03) Posted:
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From your experience, wonder if this platform more reliable (e.g. down time) than the usu platform?
Snappers ( Date: 29-Oct-2009 23:05) Posted:
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Not always true as can be seen by experience of many FA people who won't budge even if TA says "sell". Some people said sell DBS when it was 7 bucks because TA said so, but look I held on and sold at $13.80 later. If I listened to TA, I would have pok as you described.
On the contrary I made 40K (FA) against losing 20K(TA)....
iPunter ( Date: 30-Oct-2009 14:32) Posted:
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If your mind keeps thinking of the 'fundamentals' ( so-called 'FA'),
you wil be "pok" soon in a downtrend... hehehe...
A trader must have discipline. If you based your trading on TA, you must stick to TA. If you trade on FA you stick to FA. A change from you strategy will throw you off course from your original intentions. Do you not agree?
Ooops, sorry, not ausgroup, instead is in "Straits Times Index / STI to cross 3000 boosted by long-term investors" thread
richtan ( Date: 30-Oct-2009 11:15) Posted:
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Hi Bintang,
Saw my pm and my post in Ausgroup?
Bintang ( Date: 29-Oct-2009 22:48) Posted:
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agree with the sifus had said.. setting stop loss is not a good choice in volatile market..
i used it for collecting my profits.. example, i buy ABC counter at 0.300 cents... it went up to 0.330.. i got no time to monitor, so i set stop loss at 0.325 and limit it at 0.300.. of course i would want very much for it to go higher, but if it doesn't and starts to plunge, at least i know that i can collect my profit at 0.325 even if it lau sai back to 0.300..
Frankly speaking, with the exception that I know of in poems, no stk trading platform has a stop loss function for share trading. Saxo has that in their trading platform for forex, CFDs and stocks but their stock purchases must be fully margined and no contra allowed, just pay full first then buy, or sell to receive sale proceeds. Saxo acts as a custodian for shares (i.e no CDP Acct involved) and is good for players who are willing to commit funds in their share purchases for investment with longer term perspectives. It is a foreign brokerage stationed in Singapore, but it charges very competitive brokerages of 0.18 percent as against what most of us retail investors are paying for brokerage commissions of 0.28 to 0.4 percent. The only difference between SAXO and say OCBC or Philipsec is the full margin deposit requirement, but I think this is ok if our intention is to buy a share and keep until it appreciate in price.
Sorry for the digression. Using a Stop loss function is sometimes disadvantageous in a very volatile market where prices move up and down rapidly in broad ranges and you get stopped out before prices recover. The best is to use your own mental stop point and when it is reached, you make an effort to take the necessary action. You might not get what you wanted, and miss a couple of pips this way, but at least you won't overlose too much.
Hi smartrader, the problem is this 'sometimes'. Because 'sometimes' if you don't do anything the share price keeps plunging, and the loss can wipe up in double quick time the gain accumulated or even the capital substantially. Could you share with us how do you determine when (or the criteria) should we not do anything during a bad day? Wish to learn from you. Rgds.
smartrader ( Date: 29-Oct-2009 23:18) Posted:
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I thot some people had shared that Saxo got stop loss function? Anyway, you may want to double check on that.
forget to add.. sometimes not doing anything on a bad day is better than doing something.. stay calm
stop loss limit is effective as a contingency to preserve capital to guide against crashes due to bad news... setting a narrow band may cause you to lose money due to intra-day fluctuations..trade with care..
hi rearmirror,
phillip brokerage firm offers a platform known as pro trader.. has the feature that you mentioned... you can set your stop loss limit.. i am using this platform, good for ppl like me who cannot afford the time (my workstation near boss office.. hahaha) to glue my eyes to the screen to monitor the price... hope this helps...
Hi Bintang,
it would be good for me to have this feature, I have problem to cut my losses..sigh...anyway, thanks for your reply and your very detail TA analysis in this forum, enjoy reading them and learned alot from them.
Hi rearmirror , only big players need the facility to do the trading , for us small players , we can only take the trouble to check the share price more frequently .
rearmirror ( Date: 29-Oct-2009 20:33) Posted:
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Hi Bintang,
thank you for your reply but what I meant was an Stop Loss Limit order that I can put in place so that I don't have to monitor the price thru the day and it also cuts out the emotion.
Place your imaginary stop -loss protection (or cut-loss point ) in your mind .
rearmirror ( Date: 29-Oct-2009 13:11) Posted:
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To all the Sifus,
I have been reading about setting our stop loss in this forum but my broker OCBC doesnt provide this automated feature in their trading platform.
May I know which broker provide this feature?