Mushoz (OP)
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March 13, 2012, 06:01:21 PM |
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Hey Zhoutong, Thanks again for your great service! I was wondering if there are any plans to implement Stop Limit Orders? As far as I know, they shouldn't be too hard to implement, and it will prevent stupid base prices when a spike soars far past my trigger point. Thanks!
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Unil
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March 13, 2012, 06:12:53 PM |
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I second that opinion for sure! My new position base flew past my trigger point by 40 cents during the major move up
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fcmatt
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March 13, 2012, 06:22:35 PM |
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Do others here even use the trailing stop and stop functions on his website?
I can imagine his stop limit order would just result in you getting no position at all.
Unil, if I understand you correctly you might have had a buy order in at 5.01 but when it actually executed to buy you got them at 5.41, right?
And that is exactly why I tend to do things manually. I could not find a thorough explanation of his stop and trailing stop functions on his website.
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Unil
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March 13, 2012, 06:53:17 PM |
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fcmatt, that is correct in the sense that I had a stop buy order at 5.065, but the order was placed at a base price of 5.47.
How do you go about the manual way of things then, if I may ask? I simply use bitcoinica since it allows for shorting, going in on margin, etc. and haven't been trading long (began watching bitcoins in December, began trading last month), so I am not completely up to date with other forms of placing stops, limits, trailing stops, etc. on different sites or in a "manual" sense. Thank you for the help though, or pointing that out. If you have a different method to minimize such occurrences then I would certainly be intrigued.
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Krakonos
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March 13, 2012, 07:10:43 PM |
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I agree. I tried to use stop orders, but could not. The same happened to me. The thing is that the price spikes and your stop order becomes market order. But before the system is able to process it, the price moves back/forth/whatever, usually to your loss. I blame the spread for this.
Actually, a Limit stop order would not be any good, since when it should be executed, you'd get nothing, since the price probably moved just above your order. This is the way stuff happens with such high spread.
You probably want to place order "buy if prices goes above 5.0, but not for more that 5.1". I would like that too, but then it'd be more like programming a bot.
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Mushoz (OP)
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March 13, 2012, 07:10:55 PM |
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dear OP that cant be implemented and it wont be implemented until the daily volume on the marker will reach millions of USD
What has that got to do with volume? I just want to protect my stops with a limit, and it should be really easy to implement.
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Mushoz (OP)
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March 13, 2012, 07:12:23 PM |
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I agree. I tried to use stop orders, but could not. The same happened to me. The thing is that the price spikes and your stop order becomes market order. But before the system is able to process it, the price moves back/forth/whatever, usually to your loss. I blame the spread for this.
Actually, a Limit stop order would not be any good, since when it should be executed, you'd get nothing, since the price probably moved just above your order. This is the way stuff happens with such high spread.
You probably want to place order "buy if prices goes above 5.0, but not for more that 5.1". I would like that too, but then it'd be more like programming a bot.
The last thing you mentioned is exactly what a Stop Limit Order is You fill in your stop, upon which the order automatically becomes a limit order for the Limit price set, which is separate from the Stop price.
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fcmatt
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March 13, 2012, 07:15:26 PM |
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fcmatt, that is correct in the sense that I had a stop buy order at 5.065, but the order was placed at a base price of 5.47.
How do you go about the manual way of things then, if I may ask? I simply use bitcoinica since it allows for shorting, going in on margin, etc. and haven't been trading long (began watching bitcoins in December, began trading last month), so I am not completely up to date with other forms of placing stops, limits, trailing stops, etc. on different sites or in a "manual" sense. Thank you for the help though, or pointing that out. If you have a different method to minimize such occurrences then I would certainly be intrigued.
By manual I mean i use limit and that is it. By hand, when I want to sell and to buy.
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Mushoz (OP)
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March 13, 2012, 07:15:30 PM |
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dear OP that cant be implemented and it wont be implemented until the daily volume on the marker will reach millions of USD
What has that got to do with volume? I just want to protect my stops with a limit, and it should be really easy to implement. yes but i(anyone) can exploit that because the market is to damn small Exploit how? The current stop orders are way easier to exploit, since they turn into market orders once your stop price is hit.
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Krakonos
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March 13, 2012, 07:19:13 PM |
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The last thing you mentioned is exactly what a Stop Limit Order is You fill in your stop, upon which the order automatically becomes a limit order for the Limit price set, which is separate from the Stop price. Sorry, I misunderstood it :-)
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Koekiemonster
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March 14, 2012, 08:48:33 AM |
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I would like to see this too, not using Stop orders for this reason.
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thest0ckman
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March 14, 2012, 02:01:05 PM |
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i want stop limits also, been waiting to see this come out.
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Bigpiggy01
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March 14, 2012, 03:05:21 PM |
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Atm asking for new features is a bit out of whack with reality (however stop limits would be really great).
He needs to get what he has working.
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