On limit orders, and for the one you were wanting to place, it is
always a good idea to put the order in at 1/1000 above (or below for a long position), the exact figure you wanted to be filled at. So in this case you would have placed the limit order at 33.441.
This would improve the chances of your order being filled before
others who are trading at 33.44 Not that it mattered in this case
because you beat the limit price but I have found this to be of
use in the past.
My EOD scanner short lists daily ( .. this is not my realtime scanner ) short and long candidates to play against each other.. The candidates are then transferred to realtick for CONFIRMATION by the market.
Is not it amazing that all the short candidates are in red to day ?
I have mentioned VWAP and how it works in a few posts in the past .. If you could not find it then PM me and I will explain ..
I have also posted on risk element in real time trading , which could be helpful..
would not you consider AMGN an excellent short hedged against Long T..
There was also a nice support from L2, 8000 buyer who vanished in the thin air as they often do ,,,
We have many chartists on this BB.... What you think ?
Up date .. I have now closed both AMGN and T with a net loss of around $500 + costs ( gave back all my gains in T against short AMGN .. ) .. My Long VRTS is doing excellent.... currently trading @ 33.98 a handsome profit..
yes, correct .. As soon as one of them reverts to its mean the positons are closed.. I will post a further chart after the trade is over .. Now I have to wait and see.. I am hoping EK to collapse as DOW is in negative ..
Risk managment is often confused with money managment.. I had no interest where the market was going to go ( even though technically speaking it should continue in the direction of previous trend which was DOWN ) .. Even if i was wrong still would make little affect on my strategy plan .. ( except that SBC would revert instead )
I have posted the two charts in real time for you guys to look at the risk of applying such a strategy ... This was a simple risk controlled trade than trying to predict the market direction .. JESUS GUYS NO ONE CAN PREDICT THE MARKET DIRECTION ... ( God is excluded)
Also can you watch VRTS trade? DOW down 30 points MSFT in negative but VRTS going strong .. VRTS was a friday,s swing trade and tomorrow is its last day ...
First EK reverted back to its VWAP and then SBC.. The chart below speak for itself.. Those of you who have been watching the trade in real time can now see the logic behind taking a Risk controlled trade such as above..