Nov 27, 2007

APC - Short

Still waiting for a day this week when I'm burning up the keyboard with orders. Thought today was boring as well. I caught APC short but initially I didn't like the lack of unusual volume. I decided not to discard it since volume was on the fringe (between too low and just right). My entry bar was a failed reversal at the ORL with volume. Exited on a break of the 2:45pm bar high (I would normally partial here, but since I shorted a stock on a big 'up' day I didn't want to risk too much profit). Turned out to be the right move as the stock moved up big after I exited.



12 comments:

Jerry said...

Nice catch!

OONR7 said...

thanks jerry. I checked out your ATVI trade and as I was looking at it I said... hmmm, the 12pm bar look like my kind of entry, why didn't I see that??? So, I went and checked my chart again and sure enough - my data was wrong. Cleared the chart, reset and - viola - the correct info appeared. Anyway... I would definitely have entered on a break of the 12pm bar high. Most likely a breakeven trade - but, oh well.
As a side note... turns out my Prophet subscription didn't expire as I thought it was going to. So, I've had it for the last month and haven't used it. Not only that, I'm getting charged the increased rate. Ughhhh... I may just keep it. IB's been really sluggish lately with the backfill.

Hammer Trader said...

OONR7:
Good trade on APC.. IB is slow for me as well..
More detail question on your stop limited entry order, do you put your stop 0.02$ up/below the entry bar's high/low (as Jamie mentioned in his blog) and put your limit 0.05$ away from your stop?

OONR7 said...

hammer: thanks. yes, entry is 2 cents above high/low of entry bar. The same for exits... but I don't use stop-limit on exits.

Flatwallet said...

Nice trade

Jerry said...

Apply for the free Prophet or get stockwatch.

I know you have a small list of gapper list, but just how slow is IB backfill? One min?

BTW, the stop limit on IB isn't working. It filled my order at once. I found out later on that the stop price and limit price will change even if you set it the same.

Oh, you know the page you have to confirm before transmit, how do I get it back?

Hammer Trader said...

Jerry: For me, IB backfill is at least 20 second for each stock, so if I'm watching 30 stocks, that's at least 10 minutes of backfill, and that's done manually, it's painful.
I had couple times stop-limit order with IB got filled and I thought it's their problem, but it end up to be my data feed problem, the price was reached and so it should be filled.

Jerry said...

Hammer Trader,

My god, IB is slow. It took 5 sec each for my stockwatch backfill.

I sometime put in the order like 5 min and 30 cent from entry, and it was filled in 5 sec and at the current price. So I can't explain this.

Hammer Trader said...

Jerry: Maybe there is a price spike? That trigger your order and filed at current price because it's better than your limit price. Were your order size pretty big? You can check the hidden check box to make your order hidden. You can also keep a copy of the order, screenshot or something, and send to IB support, they will address it.

Jerry said...

There was no spike at all. Take my trade today. I enter ATVI on stop limit of $21.42, but price was trading at $21.36, then I was filled at once at $21.39.

My size is small and IB support said they are working fine. But I tried the Paper trading account and samething happened. Who knows...

I never have this problem with my other broker. Just have to be careful. Next time I will enter manually and see.

QQQBall said...

jerry,

im wondering if the order triggers if the Bid or Ask are at a certain level. i have this problem with stop loss limit orders.

nice trade 007! i went long DUG on friday and took partials today near the open. i was in a stock trading seminar from 11 am pst and like 12pm or later i was thinking i should dump the rest over $46. didnt do it and watched it tank.

thanks for posting - my biz gets hectic at YE and im just banking dough rather than trading much.

OONR7 said...

qqqball: what kind of biz if you don't mind me asking?