Quote:
Originally Posted by lewdog
Your entry wasn't horrible, especially with it at 76.50 to end day. You're up nicely!
I can't watch it as much as I want either. Which is why Buy Stop Market orders work for purchasing on breakout like I described in previous posts.
Also, many stocks will spike intraday or pre/post market. You can keep sell orders at GTC (good-til cancelled). This allows you to catch those brief moments that a stock catches a high, which is exactly what I did selling WIRE at 78 post market. I had an order set and it hit, I wasn't watching. I also have an 80 sell order for 25% more of my position on WIRE at GTC. I may then let the remaining 25% of my position run while raising my stop loss to break even. The entire time I'm doing this my stop order remains in place as a safety net.
So think about a sell price for some of your position tomorrow and set it before the day begins ($79? at 25% of you position?). It can trigger, even though you are busy and can't watch.
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I need to do that you're right, I do take advantage of those tools and other times I'll say to myself, I have things I have to do I'll come back and see what's going on with the stock later on.