Go to Jeff Salisbury LWGate Home Page.From: "David Taggart" <dctag@mavericktrading.com>
Subject: RE: [CANSLIM] STOPs
Date: Wed, 21 May 2003 13:24:07 -0600
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We (as in the brokerage I work for ) offer them. We use Realtick software
and it allows one to use trailing stops. If you have more questions please
e-mail me off line.
David Taggart
-----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
>
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<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN =
class=3D200032319-21052003>We (as=20
in the brokerage I work for ) offer them. We use Realtick software =
and it=20
allows one to use trailing stops. If you have more questions =
please e-mail=20
me off line.</SPAN></FONT></DIV>
<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN=20
class=3D200032319-21052003></SPAN></FONT> </DIV>
<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN =
class=3D200032319-21052003>David=20
Taggart</SPAN></FONT></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV align=3Dleft class=3DOutlookMessageHeader dir=3Dltr><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></DIV></FONT>
<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN=20
class=3D578152118-21052003>David,</SPAN></FONT></DIV>
<DIV><FONT color=3D#0000ff face=3DArial 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 color=3D#0000ff face=3DArial size=3D2><SPAN=20
class=3D578152118-21052003></SPAN></FONT> </DIV>
<DIV><FONT color=3D#0000ff face=3DArial 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 color=3D#0000ff face=3DArial size=3D2><SPAN=20
class=3D578152118-21052003>Thanks in advance,</SPAN></FONT></DIV>
<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN=20
class=3D578152118-21052003>Tim</SPAN></FONT></DIV>
<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN=20
class=3D578152118-21052003></SPAN></FONT> </DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV align=3Dleft class=3DOutlookMessageHeader dir=3Dltr><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 color=3D#0000ff face=3DArial 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 color=3D#0000ff face=3DArial size=3D2><SPAN=20
class=3D122271118-21052003></SPAN></FONT> </DIV>
<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN=20
class=3D122271118-21052003>Hope this helps,</SPAN></FONT></DIV>
<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN=20
class=3D122271118-21052003>David Taggart</SPAN></FONT></DIV>
<BLOCKQUOTE style=3D"MARGIN-RIGHT: 0px">
<DIV align=3Dleft class=3DOutlookMessageHeader dir=3Dltr><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"BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; =
MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-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 href=3D"mailto:jeffwdc@yahoo.com" =
title=3Djeffwdc@yahoo.com>jeffwdc</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
href=3D"mailto:canslim@lists.xmission.com"=20
=
title=3Dcanslim@lists.xmission.com>canslim@lists.xmission.com</A> </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>
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Next Article (by Date): RE: [CANSLIM] STOPs "Martin Guldenburg"
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