Go to Jeff Salisbury LWGate Home Page.From: michael_niemotka@baxter.com
Subject: RE: [CANSLIM] STOPs
Date: Wed, 21 May 2003 15:16:50 -0500
Next Article (by Date): RE: [CANSLIM] STOPs and GRMN and selling rules "Edward W. Gjertsen II"
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But these stops do not automatically change as the stock price changes,=
and
even if they did, I would only want the stop to move up as the stock mo=
ved
up in price, but I would never want to lower my original stop price.
Mike Niemotka , PE
Sr. Principal Engineer
Baxter Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@baxter.com
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"Richard Herkert" =
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<herkert@bigplanet.com To: canslim@lists.=
xmission.com =20
> cc: =
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Sent by: Subject: RE: [CANS=
LIM] STOPs =20
owner-canslim@lists.xm =
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ission.com =
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05/21/2003 03:01 PM =
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Please respond to =
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canslim =
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Chuck - Ameritrade offers GTC or Day trailing stops.
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Chuck Dreie=
r
Sent: Wednesday, May 21, 2003 11:49 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] STOPs
Thanks everyone! I don't use a deep discount broker (I use Schwab=
)
and they don't have trailing stops as an option. 'Wish they did..=
...
Chuck
----- Original Message -----
From: S=E9bastien Derks
To: canslim@lists.xmission.com
Sent: Wednesday, May 21, 2003 2:13 PM
Subject: RE: [CANSLIM] STOPs
Chuck,
A trailing stop works like this:
If you put a stop at $9.50 (5% below $10.00) when having it stock=
bought at $10.00 then if the stock goes up to $11 then the stop w=
ill
change to $10.45 (5% below $11). It basically stays the same
percentage under the new high reached. In case the stock drops th=
en
to $10.45 the stop order will be executed because it only moves u=
p
when a new high is reached from the point that you bought it for.=
S=E9bastien
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Chuck=
Dreier
Sent: woensdag 21 mei 2003 20:05
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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