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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: JAS who wrote (1572)	11/25/1998 2:27:00 AM
From: Wizzer	Read Replies (3) \| Respond to of 4467

Jim, if I feel I have time, I do it through the computer. If not or at the hint of a slow link, I call up Greenline, tell them there is a problem with their website and they give me the on-line rate. Greenline is aware that their server and website are problematic (crappy), so many times they offer but you may have to ask for the reduced price. Today, in desperation at the slow loading time at peak hours, I called it in. It doesn't cost anything to change your STOP or add a premium to the cost of the trade. My last couple of trades have been on the TSE which provides STOP LOSS orders. I believe Keith or the Chief mentioned that the VSE does not and I do not know about the ASE. Actually, it was less than a month ago that the Chief explained how he uses STOPS. I just basically followed his instructions and it works great. Just in case anyone doesn't know how a STOP LOSS works I will explain: A stop loss is the minimum price you want to sell a stock. It is inputted below the BID price, so if the market drops your stop will be activated. This does not guarantee that you will get that price, however, your STOP LOSS is activated once the last trade hits your stop. You can get filled higher or lower than the STOP, and in effect once your stop has been hit, it becomes a SELL AT MARKET ORDER. On a stock that is moving upwards, I put whatever price I feel comfortable with below the bid price. Today, when my STOP LOSS was activated, I actually was filled at a penny more. In some cases, the stock can all of a sudden drop to your STOP price, and come back up. That's the chance you take for protection as you may get filled (hit the STOP) on a temporary dip in the stock price. How to enter one on Greenline (may work for all on-line brokerages): Go into ORDER ENTRY or whatever screen you are going to use to place your order (there are a couple of ways on GL). Put in #shares, sell, and at the price box put in a specific number. Then simply click on the box (becomes a checkmark) beside the "STOP" (?) a couple of lines down, but do not enter a price in the box beside it. Also do not enter price discretion. Submit your request and you are protected. The Chief recommends that you use an odd number rather than an even number in your stop, because of his experience doing this. There are other functions that I still have to investigate (LIMITS, etc...), but at least knowing how to do a stop will be less of a worry for you. Try it yourself, or call the Help Desk if it is still unclear. Regards, Wisam P.S. As for Greenline, I will discuss the 1 hour conversation I had tonight with a supervisor and assistant manager in a later post. I got one commission on the trade I made rebated (I was going for a total rebate on both ends and may still get it), as finally I had enough of the crap with their website. Tired....must sleep.ZZZZZZZ