Futures Trades

Monday, April 03, 2006

 

System Long YM 11280

Long YM here 11280.
Risking 30 points.
This is a swing long with open target at this stage.

Chart



Comments:
Greetings Spike,

I shorted at 11290 today,clicked buy-stop limit,set stop price above short entry,and limit down at where you wish to cover?

As price dropped I set stop price at 11255,with limit at 11240,the price came up through 11255,so I figure I set it wrong,and closed position by buying,covered at 11255.

Am I correct in setting limit below short entry,and stop above when setting a short stop?

cordially Tom
 
Hi Tom

Yes, once you're short you can set the buy stop limit above your short entry price; this is your max pain stop. And you set a buy limit order at the price you wish to cover. So you are correct.

Congrats on the +35 points there; bad luck your trailing stop action got tagged out cuz I see price is falling still but well done anyway.

My long took my risk today; it's been a while since that's happened, so I was due. I am likely going to take another stab at a long at 11170 or so.....

Good luck!
 
Tom, by the way, you can configure Bracket Orders with IB (my next post will be screenshots of how); and that will help you greatly.
 
Post a Comment

Links to this post:

Create a Link



<< Home

Chat Box
Archives

03/29/06   03/30/06   04/03/06   04/04/06   04/05/06   04/07/06   04/10/06   04/11/06   04/12/06   04/13/06   04/17/06   04/18/06   04/19/06   04/20/06   04/21/06   04/23/06   04/24/06   04/25/06   04/26/06   04/27/06   04/28/06   05/01/06   05/02/06   05/03/06   05/04/06   05/05/06   05/09/06   05/10/06   05/11/06   05/12/06   05/15/06   05/16/06   05/17/06   05/18/06   05/19/06   05/21/06   05/22/06   05/23/06   05/24/06   05/25/06   05/26/06   05/30/06   05/31/06   06/01/06   06/02/06   06/05/06   06/06/06   06/07/06   06/09/06   06/13/06   06/16/06   06/19/06   06/21/06   06/22/06   06/23/06   06/26/06   06/27/06   06/28/06   06/29/06   07/04/06  

This page is powered by Blogger. Isn't yours?