Go to Jeff Salisbury LWGate Home Page.From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] STOPs
Date: Wed, 21 May 2003 14:06:42 -0500
Previous Article (by Author): Re: [CANSLIM] STOPs "Chuck Dreier"
Next in Thread: RE: [CANSLIM] STOPs =?iso-8859-1?Q?S=E9bastien_Derks?=
Articles sorted by: [Date]
[Author]
[Subject]
This is a multi-part message in MIME format.
- ------=_NextPart_000_0020_01C31FA2.34C93370
Content-Type: text/plain;
charset="iso-8859-1"
Content-Transfer-Encoding: 7bit
Hi Tim,
You're in luck...the newest version of Schwab's StreetSmartPro offers trailing
stops! Click on the Help menu and search on "trailing stops" to find out how to
set them up. Here's a screenshot for setting them:
http://www.cwhcharts.com/katherine/TrailingStops.JPG
Katherine
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Tim Katona
Sent: Wednesday, May 21, 2003 12:26 PM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] STOPs
David,
You mentioned: "Not too many platforms offer this feature and I dont know of
any that hold it overnight."
Do you know any platforms that do offer a trailing stop? I'm looking for
exactly this and have not found any yet, but I have not checked out many
platforms. I use Schwab Streetsmart Pro now, thinking of going to Cybertrader or
Brown and Co. or if I find one with a trailing stop (ideally overnight) I would
move to it.
Thanks in advance,
Tim
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of David Taggart
Sent: Wednesday, May 21, 2003 11:13 AM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] STOPs
A trailing stop is like a ratchet. Foe instance if you set a $1.00 trailing
stop every time the stock goes up $.01 the stop will move up $.01 as well. Not
too many platforms offer this feature and I dont know of any that hold it
overnight.
Hope this helps,
David Taggart
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Chuck Dreier
Sent: Wednesday, May 21, 2003 12:05 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] STOPs
Please explain "trailing stop". How is that different than the stop loss
that I'm familiar with? Thanks....
Chuck
----- Original Message -----
From: jeffwdc
To: canslim@lists.xmission.com
Sent: Wednesday, May 21, 2003 1:24 PM
Subject: Re: [CANSLIM] STOPs
Rolf,
I asked a similar question a couple of months ago.
Tom Worely posted a reply, but I regret I can't find
his actual message -however I did print a hard copy.
On 3/20/03 Tom wrote:
...the normal procedure I use is to leave the stop
loss unchanged (from the 8% stop placed after
purchase) until I am up at least 15%. At that point,
I raise my limit to my original entry point (or
aveerage price if multiple purchases). After that, I
try to us a trailing stop 15% below the prior day
(sometimes the closing price, sometimes the intraday
high, depends on the chart, stock, fundies, how badly
I want to take profits, etc.) Of course, once raised,
the stop loss should NEVER be lowered.
Also found this message from Tom written on 4/21/03:
"I think any stop loss price should be selected after
studying the chart, and considering your entry point.
When I use hard stops, I like to put them just under
where I see support, figuring if it goes thru short
term support then it could go down a lot further.
When I really don't want to be stopped out, and
especially when I already have a nice profit, I tend
to use looser stops."
Jeff Gasta
Note: I am now using a new e-mail address.
--- Rolf Hertenstein <rolfh@mindspring.com> wrote:
> Just curious how folks manage their mental or hard*
> STOPs on a broken-out stock that is behaving well
> (gaining steadily over a few months with a few
> 10-15% corrections). I'm especially curious about
> techniques people might use in this market.
>
> A 'standard' technique uses a trailing STOP at xx%
> below the currwnt price. Another technique I have
> read about sets STOPs in relation to the 50 or 200
> DMA, with the hope that allowing the stock
> relatively wide swings ultimately leads to big
> gains, as long as the DMA is still rising.
>
> Any thoughts greatly appreciated.
>
> Rolf
>
__________________________________
Do you Yahoo!?
The New Yahoo! Search - Faster. Easier. Bingo.
http://search.yahoo.com
-
-To subscribe/unsubscribe, email "majordomo@xmission.com"
-In the email body, write "subscribe canslim" or
-"unsubscribe canslim". Do not use quotes in your email.
- ------=_NextPart_000_0020_01C31FA2.34C93370
Content-Type: text/html;
charset="iso-8859-1"
Content-Transfer-Encoding: quoted-printable
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD>
<META http-equiv=3DContent-Type content=3D"text/html; =
charset=3Diso-8859-1">
<META content=3D"MSHTML 6.00.2800.1170" name=3DGENERATOR>
<STYLE></STYLE>
</HEAD>
<BODY bgColor=3D#ffffff>
<DIV><SPAN class=3D071090319-21052003>Hi Tim,</SPAN></DIV>
<DIV><SPAN class=3D071090319-21052003></SPAN> </DIV>
<DIV><SPAN class=3D071090319-21052003>You're in luck...the newest =
version of=20
Schwab's StreetSmartPro offers trailing stops! Click on the Help menu =
and search=20
on "trailing stops" to find out how to set them up. Here's a screenshot =
for=20
setting them:</SPAN></DIV>
<DIV><SPAN class=3D071090319-21052003></SPAN> </DIV>
<DIV><SPAN class=3D071090319-21052003><A=20
href=3D"http://www.cwhcharts.com/katherine/TrailingStops.JPG">http://www.=
cwhcharts.com/katherine/TrailingStops.JPG</A></SPAN></DIV>
<DIV><SPAN class=3D071090319-21052003></SPAN> </DIV>
<DIV><SPAN class=3D071090319-21052003>Katherine</SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Tim=20
Katona<BR><B>Sent:</B> Wednesday, May 21, 2003 12:26 PM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> RE: [CANSLIM]=20
STOPs<BR><BR></FONT></DIV>
<DIV><FONT face=3DArial color=3D#0000ff size=3D2><SPAN=20
class=3D578152118-21052003>David,</SPAN></FONT></DIV>
<DIV><FONT face=3DArial color=3D#0000ff size=3D2><SPAN =
class=3D578152118-21052003>You=20
mentioned: "Not too many platforms offer this feature and I dont know =
of any=20
that hold it overnight." </SPAN></FONT></DIV>
<DIV><FONT face=3DArial color=3D#0000ff size=3D2><SPAN=20
class=3D578152118-21052003></SPAN></FONT> </DIV>
<DIV><FONT face=3DArial color=3D#0000ff size=3D2><SPAN =
class=3D578152118-21052003>Do=20
you know any platforms that do offer a trailing stop? I'm looking for =
exactly=20
this and have not found any yet, but I have not checked out many =
platforms. I=20
use Schwab Streetsmart Pro now, thinking of going to Cybertrader or =
Brown and=20
Co. or if I find one with a trailing stop (ideally overnight) I would =
move to=20
it.</SPAN></FONT></DIV>
<DIV><FONT face=3DArial color=3D#0000ff size=3D2><SPAN=20
class=3D578152118-21052003>Thanks in advance,</SPAN></FONT></DIV>
<DIV><FONT face=3DArial color=3D#0000ff size=3D2><SPAN=20
class=3D578152118-21052003>Tim</SPAN></FONT></DIV>
<DIV><FONT face=3DArial color=3D#0000ff size=3D2><SPAN=20
class=3D578152118-21052003></SPAN></FONT> </DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>David=20
Taggart<BR><B>Sent:</B> Wednesday, May 21, 2003 11:13 =
AM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> RE: [CANSLIM]=20
STOPs<BR><BR></FONT></DIV>
<DIV><FONT face=3DArial color=3D#0000ff size=3D2><SPAN =
class=3D122271118-21052003>A=20
trailing stop is like a ratchet. Foe instance if you set a =
$1.00=20
trailing stop every time the stock goes up $.01 the stop will move =
up $.01=20
as well. Not too many platforms offer this feature and I dont =
know of=20
any that hold it overnight.</SPAN></FONT></DIV>
<DIV><FONT face=3DArial color=3D#0000ff size=3D2><SPAN=20
class=3D122271118-21052003></SPAN></FONT> </DIV>
<DIV><FONT face=3DArial color=3D#0000ff size=3D2><SPAN=20
class=3D122271118-21052003>Hope this helps,</SPAN></FONT></DIV>
<DIV><FONT face=3DArial color=3D#0000ff size=3D2><SPAN=20
class=3D122271118-21052003>David Taggart</SPAN></FONT></DIV>
<BLOCKQUOTE style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Chuck =
Dreier<BR><B>Sent:</B> Wednesday, May 21, 2003 12:05 =
PM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> Re: [CANSLIM]=20
STOPs<BR><BR></DIV></FONT>
<DIV><FONT face=3DArial size=3D2>Please explain "trailing =
stop". How is=20
that different than the stop loss that I'm familiar =
with? =20
Thanks....</FONT></DIV>
<DIV><FONT face=3DArial size=3D2>Chuck</FONT></DIV>
<DIV> </DIV>
<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- =
</DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Djeffwdc@yahoo.com =
href=3D"mailto:jeffwdc@yahoo.com">jeffwdc</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, May 21, =
2003 1:24=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
STOPs</DIV>
<DIV><BR></DIV>Rolf,<BR><BR>I asked a similar question a couple =
of=20
months ago. <BR>Tom Worely posted a reply, but I regret I can't=20
find<BR>his actual message -however I did print a hard =
copy. =20
<BR>On 3/20/03 Tom wrote:<BR>...the normal procedure I use is to =
leave=20
the stop<BR>loss unchanged (from the 8% stop placed =
after<BR>purchase)=20
until I am up at least 15%. At that point,<BR>I raise my =
limit to=20
my original entry point (or<BR>aveerage price if multiple=20
purchases). After that, I<BR>try to us a trailing stop 15% =
below=20
the prior day<BR>(sometimes the closing price, sometimes the=20
intraday<BR>high, depends on the chart, stock, fundies, how =
badly<BR>I=20
want to take profits, etc.) Of course, once raised,<BR>the =
stop=20
loss should NEVER be lowered.<BR><BR>Also found this message =
from Tom=20
written on 4/21/03:<BR><BR>"I think any stop loss price should =
be=20
selected after<BR>studying the chart, and considering your entry =
point.<BR>When I use hard stops, I like to put them just =
under<BR>where=20
I see support, figuring if it goes thru short<BR>term support =
then it=20
could go down a lot further.<BR><BR>When I really don't want to =
be=20
stopped out, and<BR>especially when I already have a nice =
profit, I=20
tend<BR>to use looser stops."<BR><BR>Jeff Gasta<BR>Note: I am =
now using=20
a new e-mail address.<BR><BR>--- Rolf Hertenstein <<A=20
=
href=3D"mailto:rolfh@mindspring.com">rolfh@mindspring.com</A>>=20
wrote:<BR>> Just curious how folks manage their mental or=20
hard*<BR>> STOPs on a broken-out stock that is behaving =
well<BR>>=20
(gaining steadily over a few months with a few<BR>> 10-15%=20
corrections). I'm especially curious about<BR>> =
techniques=20
people might use in this market.<BR>> <BR>> A 'standard' =
technique=20
uses a trailing STOP at xx%<BR>> below the currwnt =
price. =20
Another technique I have<BR>> read about sets STOPs in =
relation to=20
the 50 or 200<BR>> DMA, with the hope that allowing the =
stock<BR>>=20
relatively wide swings ultimately leads to big<BR>> gains, as =
long as=20
the DMA is still rising.<BR>> <BR>> Any thoughts greatly=20
appreciated.<BR>> <BR>> Rolf<BR>>=20
<BR><BR><BR>__________________________________<BR>Do you =
Yahoo!?<BR>The=20
New Yahoo! Search - Faster. Easier. Bingo.<BR><A=20
=
href=3D"http://search.yahoo.com">http://search.yahoo.com</A><BR><BR>-<BR>=
- -To=20
subscribe/unsubscribe, email "<A=20
=
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In=
=20
the email body, write "subscribe canslim" or<BR>-"unsubscribe=20
canslim". Do not use quotes in your=20
=
email.<BR></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY></HT=
ML>
- ------=_NextPart_000_0020_01C31FA2.34C93370--
- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim". Do not use quotes in your email.
Previous Article (by Author): Re: [CANSLIM] STOPs "Chuck Dreier"
Next in Thread: RE: [CANSLIM] STOPs =?iso-8859-1?Q?S=E9bastien_Derks?=
Articles sorted by: [Date]
[Author]
[Subject]