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Thread: Swing Trading Stops

  1. #1

    Join Date
    Feb 2011
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    Question Swing Trading Stops

    So, if you trade a swing (up) long "hoping" for rise in the market... and, well, it doesn't... At what point do you cut your losses and move on to another trade.

    In specific stock trades, I see people set their buy in price, their stop price, and their target price.

    If your target hasn't been, or never will be, met; how do you set your stop price? (which of course should have been done before you even put the order to buy)

    Looking for ideas for the future since I am currently enjoying a lovely blood bath in this down (almost >10%, almost bear) market.

    Thanks !!
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  3. #2

    Join Date
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    Default Re: Swing Trading Stops

    Bump, serious question, how do y'all set your stop prices? When do you give up?
    Rules:
    - Trade what you see, not what you believe
    - Don't put stuff in your signature that a Mod doesn't like

    "Government exists to protect all people’s rights, not some people’s feelings." - A. Barton Hinkle

    Great Tools:
    http://www.CreditKarma.com
    http://www.Mint.com
    http://www.SaveUp.com/r/nmJ

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  5. #3

    Join Date
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    Location
    Washington
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    Default Re: Swing Trading Stops

    bumpity bump bump
    Rules:
    - Trade what you see, not what you believe
    - Don't put stuff in your signature that a Mod doesn't like

    "Government exists to protect all people’s rights, not some people’s feelings." - A. Barton Hinkle

    Great Tools:
    http://www.CreditKarma.com
    http://www.Mint.com
    http://www.SaveUp.com/r/nmJ

  6.  
  7. #4

    Join Date
    May 2010
    Location
    California
    Posts
    107

    Default Re: Swing Trading Stops

    I bet you already found your answered, but for me I use to trades based on support and resistance to set for stop lost and or profit (it's not alway work on options since the time decay is killing the profit, but when it does couple thousand % within hours is not a problem). For the last two years I stop trading stocks since it require to much capital and trade only options as I know one professional trades only options and use $500 as a limit per trade and close all out by the end of the week, for YTD he gained profit over $300K. At this time, I'm not following him since he is a day trade and most of his trade is at the market open and he gain several hundred % in matter of minutes. I don't have time since the market open I was on my way to work and I'm only watching him on my day off which is Friday, so I rarely follow him on Friday since open and close are in the same day alway risky.

    You may want to read the subject AAPL as I describe how I trade and roll over all free and will try to collect profit and keep the cost free as far as I can.

    Here is my new trade on COST PUT AUG 23 for $.81 debit

    Bought $115 strike
    Sold $113 strike
    Sold $112 strike
    Bought $110

    So my risk is $81 per contract for a chance to profit $119 per contract as long as it close between $112 & $113 and my break even at $111.19 or $114.19 or it have to drop below or above this before I consider lost.

    Let see how it open tomorrow and I may consider add more

    Bought $114 strike or ($115)
    Sold $112 strike or ($113)
    Sold $111 strike
    Bought $109

    and if it drop farther, I may just add $114 strike to easy guarantee at least $50 per contract. This is weekly additional income. I already know that more than 99% I lock in $.25 or $25 per contract that I sold $114 CALL on Tuesday (so my actual cost from the above is $.56 or maximum profit is 257% if it trade between $112 and $113). My margin for $114 CALL is $100 per contract since I bought OCT 13 $115 CALL as well & this expire after the earning report. I may sell $113 strike and close $114 strike for extra credit most likely around $.25 if it stay at current level.

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