Investing

Started In Stock

  • Last Updated:
  • Jul 25th, 2012 3:08 pm
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Deal Fanatic
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Jun 26, 2005
9203 posts
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Toronto
TheRed wrote:
Jul 24th, 2012 6:47 pm
I had a sell stop limit order set but the stock was plunged soo fast that it went lower than my sell limit price... damn...in case you're wondering its apple today. Set a sell stop limit price at 596 lmt and 598 stp but wtf its not working by the time I checked the price was 570 already and i lost 400 in a matter of couple of mins :(

Is this my broker's fault that they couldn't execute my order fast enough?

Correct. Know your definitions of the stops:

On a hindsight, I know I should've just done sell stop order and let it sell by whatever the market price is... first time trying sell stop limit

Stop: a market order is triggered if price hits or passes your set stop price <--- you will sell 100% guaranteed
Stop limit: a limit order is triggered if price hits or passes your set number, and it will ONLY sell AT your set price

Also, if you want a piece of advice, OTA teaches us NEVER trade earnings. AAPL, case in point. Did ANY analyst out there say "Apple is going to miss?" ZERO. No one can predict it, so you just did a setup that was:

Low probability
High risk
Low reward

100% opposite to what you wanna do to be profitable.
Deal Fanatic
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Jun 26, 2005
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SkimGuy wrote:
Jul 24th, 2012 1:39 pm
I haven't been burned by the market yet. My overall portfolio is down, but none of it was due to making a mistake on my part such as buying when I should have sold or something related to that :P
Please please, have a stop loss set. Stop loss prevents a bad day turning into a disastrous day
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Jun 19, 2009
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Scarborough
rfdrfd wrote:
Jul 25th, 2012 10:57 am
Please please, have a stop loss set. Stop loss prevents a bad day turning into a disastrous day
But I'm investing for the long run (Buy and hold). Don't think a bad day in the markets will affect me in the long run.
[OP]
Newbie
Jun 20, 2012
29 posts
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Dipped my little toe in this morning then very quickly pulled it out. My whole watchlist is red again.
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Dec 11, 2007
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Markham
SkimGuy wrote:
Jul 25th, 2012 11:16 am
But I'm investing for the long run (Buy and hold). Don't think a bad day in the markets will affect me in the long run.
ditto, but his comment is directed at traders, not investors
i never set stops myself, but I also only sell a few things per year tops.
NakorOranges wrote:
Jul 25th, 2012 11:22 am
Dipped my little toe in this morning then very quickly pulled it out. My whole watchlist is red again.
diversify your watch list maybe? :p

half my holdings board is green
2/3 of my clients holding board is green
some by a lot (1-2%)
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Sep 30, 2003
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Cerenity wrote:
Jul 25th, 2012 11:51 am
ditto, but his comment is directed at traders, not investors
i never set stops myself, but I also only sell a few things per year tops.
...
FWIW, I'm a long term "investor" and I still have stops. I'll usually update them monthly but irrespective, they are good to have because they take away the emotions WHEN a crash happens. Buy and hold forever is a good strategy, but I know when a real downturn happens, selling isn't the wrong move.
--
There is no happy ending
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Dec 11, 2007
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Markham
Sylvestre wrote:
Jul 25th, 2012 2:26 pm
FWIW, I'm a long term "investor" and I still have stops. I'll usually update them monthly but irrespective, they are good to have because they take away the emotions WHEN a crash happens. Buy and hold forever is a good strategy, but I know when a real downturn happens, selling isn't the wrong move.
i dont buy and hold forever. i buy and do continuous homework. a few hours per quarter per stock usually.

i would not sell stocks i own just because of a market crash, but i also would not hold a stock forever without regular research. neither concept fit my investment strategy and some would say they're equally foolish.

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