nuckin_futz Posted April 30, 2020 Share Posted April 30, 2020 (edited) Learning how to buy and sell is as important as knowing what to buy and sell. There's a ton of different order types and a ton of different instructions you can tag your order with. Such as Hidden orders, Iceberg orders, orders with price discretion, 'hide and slide' orders. Not to mention rebates for adding liquidity and the many different dark pools. I'll share an example of where knowing the rules can be of a major benefit. There's a strategy I use to use some time ago. Only sharing it because the strat died a long time ago. It centered around erroneous trades and trade busts. If you entered an executable order (market order) typically in something with poor liquidity and wound up sending the stock down a gazillion percent. You could call the exchange and request a trade bust. There were rules regarding how much they would bust. Typically they'd bust anything 20% below the last trade price. So you had to eat some loss and they'd bust the rest. So some bonehead who doesn't know the rules and probably doesn't even care because it's client money. Would come along and enter a market order in some 4 letter symbol without looking at a level2 screen to check how liquid it was. And send the stock down 80%. Phone the exchange and complain about horrible fills and request a bust. This process would take a bit of time. In the meanwhile the exchange would publish a list of all trade busts. After seeing these boneheads get their shares back. I was stunned to see they hadn't learned a thing and would just send another market order and try their luck again. Then request another bust. So I'd go plant a bid in this stock about -18% from the last trade price. And every so often I'd get stuffed with shares at an 18% discount. The thing would be so illiquid it would sometimes take a few hours or even a few days to work out of the position but a free 18% is nothing to sneeze at. I recall one time I got a fill like that. The exchange called my broker who then called me asking if I'd agree to bust the trade. It was within 20% so they gave me the option. I declined. And in retrospect I may have killed the golden goose. lol Bottom line, 1) know the rules of what you're trading. 2) know how to trade it. 3) As with anything in life. Take what they give you and use it to your advantage. If you are a novice investor/trader IMO you should only be using limit orders to enter positions. Regarding 'stop limit' orders. These are typically used to enter positions, not exit them. For example, you see a stock that is range bound between $23.50 and $25. You want to buy it on a breakout above @$25. You can place a buy stop limit @$25.10 with a limit of $25.25. That order becomes executable above 25.10 up to 25.25. Market orders should only be used when you're positive there is sufficient liquidity available to not encounter excessive slippage. Edited April 30, 2020 by nuckin_futz 2 2 Link to comment Share on other sites More sharing options...
AriGold2.0 Posted May 1, 2020 Share Posted May 1, 2020 Anybody else expecting tomorrow to be wild ? Link to comment Share on other sites More sharing options...
CBH1926 Posted May 1, 2020 Share Posted May 1, 2020 16 minutes ago, AriGold2.0 said: Anybody else expecting tomorrow to be wild ? Bumpy ride tomorrow for sure, will see how things looks like. Probably looking to add more to my portfolio. Link to comment Share on other sites More sharing options...
I.Am.Ironman Posted May 1, 2020 Share Posted May 1, 2020 1 hour ago, CBH1926 said: Bumpy ride tomorrow for sure, will see how things looks like. Probably looking to add more to my portfolio. one would think a drop.... but lately the market responds the opposite to what I think so it'll rise tomorrow Link to comment Share on other sites More sharing options...
sassbs Posted May 1, 2020 Share Posted May 1, 2020 What is suppose to happen tomorrow for it to drop? Link to comment Share on other sites More sharing options...
AriGold2.0 Posted May 1, 2020 Share Posted May 1, 2020 (edited) 7 hours ago, sassbs said: What is suppose to happen tomorrow for it to drop? - We're now at plus 7.2% on the S&P short-range oscillator. Anything above plus 5is overbought. A 7.2 reading is concerning. - First-time unemployment claims have climbed above 30 million nationwide. - U.S. consumer spending plunged more than 7% in March from a year ago and gross domestic product fell by 4.8% in the first three months of 2020. - Meanwhile, there are lots of people who are itching for an excuse to take profits. Today's jobless claims number gave them one, and there'll be a lot more bad news behind it. Edited May 1, 2020 by AriGold2.0 1 1 Link to comment Share on other sites More sharing options...
Warhippy Posted May 1, 2020 Share Posted May 1, 2020 Live forecasting. American Major Markets. https://liveindex.org/americas/ Commodities: https://liveindex.org/commodities/ Current Alerts: https://liveindex.org/technical-signals/ Link to comment Share on other sites More sharing options...
nuckin_futz Posted May 1, 2020 Share Posted May 1, 2020 Elon Musk: The TSLA stock price is too high in my opinion Fri 1 May 2020 15:14:19 GMT Tweet from Elon Musk Shares of TSLA has fallen to $745 from $760 in the past few minutes. He's a strange man and it's possible his twitter was hacked because his tweet moments before that one was also strange: He also just tweeted: "Now give people back their FREEDOM" No word on whether he's high or not. ********************** TSLA did an offering on Feb 14 to raise $2 billion. Selling 2.65 million shares at a price of $767. Imagine being the firm that took the offering. Now this putz tweets it's overvalued at that price and torpedoes the stock. Imagine how much you'd want to kick his ass. Or how fast you'd be calling your in house lawyers. And that 2nd tweet. Does he realize he manufactures possessions? Day's Range on TSLA 683.04 - 772.77 Link to comment Share on other sites More sharing options...
CBH1926 Posted May 1, 2020 Share Posted May 1, 2020 Elon better lay of that weed. Link to comment Share on other sites More sharing options...
HI5 Posted May 1, 2020 Share Posted May 1, 2020 Lol, that explains the notable drop on TSLA Link to comment Share on other sites More sharing options...
Warhippy Posted May 1, 2020 Share Posted May 1, 2020 Some significant looking drops today. Is this the start of a route again next week or just a blip as people keep pumping it higher? Markets still haven't made up those losses yet and are poised to make what happened in March look minimal according to literally every marker out there. But for some reason it is still moving forward. Link to comment Share on other sites More sharing options...
HI5 Posted May 1, 2020 Share Posted May 1, 2020 3 minutes ago, Warhippy said: Some significant looking drops today. Is this the start of a route again next week or just a blip as people keep pumping it higher? Markets still haven't made up those losses yet and are poised to make what happened in March look minimal according to literally every marker out there. But for some reason it is still moving forward. I thought about buying at close today, but i'm just going to wait for a few more reports next week. Then it's all in or bust! Link to comment Share on other sites More sharing options...
Warhippy Posted May 1, 2020 Share Posted May 1, 2020 (edited) 1 minute ago, HI5 said: I thought about buying at close today, but i'm just going to wait for a few more reports next week. Then it's all in or bust! The US just announced that large firms and corporations can count on "generous support" over the next 2 weeks so who even knows man. Effectively promising to float large corporations with tax dollars printed with no security behind it. Edited May 1, 2020 by Warhippy 1 Link to comment Share on other sites More sharing options...
CBH1926 Posted May 1, 2020 Share Posted May 1, 2020 April was the best month for stocks since 1974. Link to comment Share on other sites More sharing options...
AriGold2.0 Posted May 1, 2020 Share Posted May 1, 2020 (edited) 55 minutes ago, HI5 said: I thought about buying at close today, but i'm just going to wait for a few more reports next week. Then it's all in or bust! I bought 1000 shares of Macy’s at $5.38. I missed the bottom of 5.33 which pissed me off. With 60+ stores opening Monday I’m expecting a surge early next week, plan is to sell mid day Monday if all goes to plan. Also just because it’s interesting. Tesla was trading at 865 a share yesterday and finished today at 701. With Musk having 38.6M shares he lost around 6.3B in the last 30 hours. Have a good weekend all, post your watch list! I will as well! Edited May 1, 2020 by AriGold2.0 1 Link to comment Share on other sites More sharing options...
NucksPatsFan Posted May 1, 2020 Share Posted May 1, 2020 @nuckin_futz Thanks again for the quick tutorial on stop limit sell orders - was able to secure profits today as the energy sector crashed. 5 stocks I'm keeping an eye on over the new couple weeks: Aritzia (atz.to) Sunlife Financial (slf.to) Dollarama (dol.to) Exchange Income Corporation (eif.to) Alimentation Couche-Tard (atd.b.to) 1 Link to comment Share on other sites More sharing options...
NucksPatsFan Posted May 1, 2020 Share Posted May 1, 2020 13 minutes ago, AriGold2.0 said: I bought 1000 shares of Macy’s at $5.38. I missed the bottom of 5.33 which pissed me off. With 60+ stores opening Monday I’m expecting a surge early next week, plan is to sell mid day Monday if all goes to plan. Also just because it’s interesting. Tesla was trading at 865 a share yesterday and finished today at 701. With Musk having 38.6M shares he lost around 6.3B in the last 30 hours. Have a good weekend all, post your watch list! I will as well! Yum Brands (YUM) Restaurant Brands International (QSR) Darden Restaurants (DRI) All these guys are 20+% down but own majority of restaurant and fast food industry in the USA. Link to comment Share on other sites More sharing options...
nuckin_futz Posted May 1, 2020 Share Posted May 1, 2020 17 minutes ago, NucksPatsFan said: @nuckin_futz Thanks again for the quick tutorial on stop limit sell orders - was able to secure profits today as the energy sector crashed. 5 stocks I'm keeping an eye on over the new couple weeks: Aritzia (atz.to) Sunlife Financial (slf.to) Dollarama (dol.to) Exchange Income Corporation (eif.to) Alimentation Couche-Tard (atd.b.to) Glad to help. Link to comment Share on other sites More sharing options...
NucksPatsFan Posted May 1, 2020 Share Posted May 1, 2020 @nuckin_futz @AriGold2.0 @Warhippy @CBH1926@HI5 @I.Am.Ironman and anyone else I missed Would you be interested in creating a Slack group to share investing tips, good buys in the moment, etc. ? 1 Link to comment Share on other sites More sharing options...
inane Posted May 1, 2020 Share Posted May 1, 2020 What are some small caps people have on their radar? My two little guys are WELL and QUIS. Couple thousand in each and they are doing well. Link to comment Share on other sites More sharing options...
Recommended Posts
Please sign in to comment
You will be able to leave a comment after signing in
Sign In Now