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Colin,
You bring up a very good point, and I agree with you 100%. I am just now testing the new CyBerTrader version 1.7 Beta and getting acquainted with its many new and sophisticated features. I may not have explained it very well.
In the new version, you can program any stock you are watching to do one of several things:
(1) trigger an alert with audible and/or visual alarm, and optionally
(2) load the stock's symbol into a stock box (marketmaker box), and optionally
(3) place an order to buy or sell automatically.
The alerts and optional orders can be set to trigger on trade price, inside bid or ask, volume, and other criteria. That is my understanding of this particular feature. Stop losses, set at point or percentage gains/losses, including trailing stop losses, also can be set.
Now, to answer your question more specifically. With my present understanding of the software, I personally would not set any conditional order to trigger automatically, for the very reason you mention. I would set alarms to alert me to a particular stock at a certain time, then I would act on the alarm accordingly.
So, you and I agree on that very good point. As I have more time to experiment with this new version I may have a better understanding of the feature and, perhaps, more to say about it, good or bad. Thanks for the very astute observation! Good traders are always such a paranoid bunch, aren't they?
Bill |
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