Question: some very basic questions please

Discussion in 'Learn how to trade or invest by asking questions' started by Tom S, Feb 18, 2017.

  1. Tom S

    Tom S New Member

    good morning.

    have started paper trading with the TC2000 software.

    1. with regard to entering trades (momentum type intraday trades, stocks) i see i can
    get filled fairly fast by entering as a "market" buy, but i see from slippage many times
    i am overpaying a bit. A limited add doesn't get me filled very fast, and by the time i
    do get filled it could possibly be too late.

    what is the best technique to prevent this? for example a "limited" buy with a "0"---
    would this get me filled almost as fast at my specific price point?

    2. let's say i enter a trade and it gives a good upward spike. So i want to add shares. Let's
    say i entered the trade, it is making $, i have a tight stop on it which i can manually adjust
    with this software, so if i add another 500 (or 5000 shares), can the initial stop i have in
    place control all adds, or do i need to create a new stop for each add?

    (i'm hopeful that i can control and save any gains with only my initial stop i placed with
    my 100 share buy)

    thanks for any insight.
  2. ineedupticks

    ineedupticks Member won penny contest 2x won weekly contest 2x

    It's a matter of preference. Personally, I wait for price to go below what I want and then enter a limit buy at the ask price is .01 above the ask

    The stop wouldn't adjust for all adds since you put it in when you had X shares but now have Y shares. You'd just cancel your stop and put in a new one.
  3. Rahula

    Rahula New Member

    1.It's impossible to get filled at the best price if you're trading less active stocks. So try to trade active stocks, i.e. changing hands per sec, when scalping. If you wish to hold stocks overnight, there's nothing to be worried about even if the filled price isn't favorable. Remeber to do your homework thoroughly before entering a trade, and set up a resonable stop loss.

    2.You don't need to create a new stop. The meaning of a stop of a winning trade is to secure profits. You do not have to use stop loss when you're making money. Just be careful with the second entry point because sometimes it can ruin a winning trade.

    Hope this helps.

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