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Wednesday, May 18, 2005

Setting Stop Levels

A few days ago I made two paper trades with CCJ and ONXX. I inteded to hold the positions for a short time, so I set very close stops. As both of the stops realized just twenty to fifty minutes later, I had to take a slight loss from both positions, -0.2% and -1.2% accordingly. A little later, both shares headed upwards above buying price.

The question is, whether I set the stops to the right level.

Here are the intraday charts:
Stock Chart: Cameco (CCJ)
Chart Courtesy of Bigcharts

Stock Chart: ONYX Pharmaceuticals (ONXX)
Chart Courtesy of Bigcharts

This is actually totally normal situation that you have to use stops from time to time, but sometimes it makes me still thinking and searching for stop setting strategies.

Recently, I found an article about stops strategy at StreetAuthority web site, I'll give you the link below.

See also:
StreetAuthority: Setting Stop Loss Orders
Live Action: Long CCJ
Live Action: Long ONXX

1 Comments:

Anonymous PENNY STOCKS said...

Limit stop orders are great when used right.

12/03/2012 01:22:00 PM  

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