Jump to content

Anyone leave SB trades over night


Recommended Posts

Biggest mistake I made was forgetting to close out a trade and waking up to a massive loss  (30xRisk!) due to over night news.  (Wirecard)

However more often that not I have seen trades that I closed out just before market close that if had I left until the next day would have been real winners (10R)  It seems like if I used a Guaranteed stop to prevent the above happening it would have paid off in the long run. I am not sure though. 

Any thoughts 

(PS: I assume a guaranteed stop would prevent this over night risk, right? I never used one ) 

 

 

  • Sad 1
Link to post
22 minutes ago, DavyJones said:

It seems like if I used a Guaranteed stop to prevent the above happening it would have paid off in the long run. I am not sure though. 

I've not used them either but yes they are guaranteed but there are a couple of snags, they need to be placed with the trade entry and they can be very wide esp if market is very volatile and you can't put a normal stop in closer to the price as well.

Not sure if you can cancel them at any stage and then put a normal one in.

Link to post
1 minute ago, Caseynotes said:

I've not used them either but yes they are guaranteed but there are a couple of snags, they need to be placed with the trade entry and they can be very wide esp if market is very volatile and you can't put a normal stop in closer to the price as well.

Not sure if you can cancel them at any stage and then put a normal one in.

thanks, I was concerned about if I use them will they take precedent over a normal stop and just charge me the premium every time,  when a bit of slippage would be acceptable.  

Link to post

Yep I have positions open overnight - I trade from daily charts though so just use the futures contracts not the DFB - worst i've been caught by is about 2R

Link to post
13 hours ago, THT said:

Yep I have positions open overnight - I trade from daily charts though so just use the futures contracts not the DFB - worst i've been caught by is about 2R

I see, smart move. Hertz cost me big time. 

trading from daily is a lot safer as one is not so leveraged. My mistake was working from 15 min charts, stock proceed to do nothing all day but the next day it moved a 1 - 3 standard deviations  of the daily. Naturally that equated to a magnified loss on a smaller time frame 

 

Link to post
1 hour ago, DavyJones said:

I see, smart move. Hertz cost me big time. 

trading from daily is a lot safer as one is not so leveraged. My mistake was working from 15 min charts, stock proceed to do nothing all day but the next day it moved a 1 - 3 standard deviations  of the daily. Naturally that equated to a magnified loss on a smaller time frame 

 

Yeah - That's one of the reasons I prefer to trade daily charts and the fact that I'm exceptionally lazy and can't stand being tied to a screen all day

Slippage and gaps are a cost that need to be factored in

Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      14,277
    • Total Posts
      70,687
    • Total Members
      59,252
    • Most Online
      5,137
      14/01/21 19:51

    Newest Member
    Shahuk
    Joined 27/02/21 04:00
  • Posts

    • @CharlotteIG This is not frustration Charlotte, this is absolute anger, rage and fury; I have affected positions that are currently trading at a loss which could easily be in profit in a timescale acceptable to me - in the meantime I pay the associated costs, Saga being a prime example, yet IG are forcing me to take £000's of cash loss through no fault; IG have accepted a commercial contract on which they are now reneging at my significant cost
    • Maybe IG have decided that with such exceptional demand, they don't need to worry about long term clients.  The exceptional mob will not be around for the long haul.  As a result of what IG have done, long term clients may not be around for the long haul either.
    • Charlotte, we keep seeing the message that's it's small caps that have been withdrawn. It isn't.  For example, Hikma has a market cap of £5.2bn and is in the FTSE100. How do we know which other companies IG might decide to do the same to? We are also told that it's due to exceptional client demand. In that case, limit new opening positions (buy and sell). Why should we long-term clients suffer due to this?
×
×
  • Create New...