RE: [CANSLIM] Bailing out of a would-be breakout

From: Mike <PatternDT@SoftHome.net>
Subject: RE: [CANSLIM] Bailing out of a would-be breakout
Date: Mon, 14 Apr 2003 08:10:52 -0400

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Datek now Ameritrade, in addition to the graphical order window has the 
feature;  Rapid Entry.  This is a command line where if you want to buy (b) 
100 shares (100) of XYZ (xyz) with a stop or activation price (act) of 21 
(21) and then open a trailing stop of 3% (t3%)
The Rapid Order command is
b 100xyz act21 t3%
and the system responds with a more verbal description of the order 
confirming it understands.

It looked to me like all of the individual commands work but not when 
combined as above, like when it activated it failed to open trailing stop.

I haven't traded Ameritrade in 6 months and assume that was just a bug 
they've fixed.  Might worth asking them for confirmation if the system will 
work the way you want it to.

Mike


 >>
At 4/14/2003  01:28 AM, you wrote:
Hi Tom,

You mention that you may "enter a limit buy back in the area of support in 
case the b/o fails".  How do you protect against getting filled as the 
stock plummets south and keeps going.

On another subject, do you know of any broker whose online trading software 
is powerful enough to enter a limit order when a stock reaches x, 
immediately put on a trailing stop of, say, 3% and increase the trailing 
stop to, say 5% when the stock reaches, say, 110% of your purchase price.

Thanks,

Harold



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<html>
<tt>Datek now Ameritrade, in addition to the graphical order window has
the feature;&nbsp; Rapid Entry.&nbsp; This is a command line where if you
want to buy (b) 100 shares (100) of XYZ (xyz) with a stop or activation
price (act) of 21 (21) and then open a trailing stop of 3% (t3%)<br>
The Rapid Order command is<br>
b 100xyz act21 t3%<br>
and the system responds with a more verbal description of the order
confirming it understands.&nbsp; <br><br>
It looked to me like all of the individual commands work but not when
combined as above, like when it activated it failed to open trailing
stop.&nbsp; <br><br>
I haven't traded Ameritrade in 6 months and assume that was just a bug
they've fixed.&nbsp; Might worth asking them for confirmation if the
system will work the way you want it to.<br><br>
Mike<br><br>
<br>
&gt;&gt;<br>
At 4/14/2003&nbsp; 01:28 AM, you wrote:<br>
<font face="Times New Roman, Times">Hi Tom,<br><br>
You mention that you may “enter a limit buy back in the area of support
in case the b/o fails”.&nbsp; How do you protect against getting filled
as the stock plummets south and keeps going.<br><br>
On another subject, do you know of any broker whose online trading
software is powerful enough to enter a limit order when a stock reaches
x, immediately put on a trailing stop of, </font>say, 3% and increase the
trailing stop to, say 5% when the stock reaches, say, 110% of your
purchase price.<br><br>
<font face="Times New Roman, Times">Thanks,<br><br>
Harold<br><br>
&nbsp;<br>
</font></html>

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