Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: Abbeydale who wrote (1350)	12/17/1998 11:18:00 AM
From: the Chief	Read Replies (1) \| Respond to of 62348

Chief, that one day when you had a stop on BII (I think) at 4.25+/- and you got stopped on the open at 3.80 and the stock went back up! Of course it is a double edged sword too... had you HAD to set a limit, True....but again its the cost of doing business...I always say to myself...would I have been unhappy with $3.80 if the stock had fallen to $2.20......can't have cake and eat it too!!<gggg. the Chief

To: Abbeydale who wrote (1350)	12/17/1998 11:43:00 AM
From: Wizzer	Read Replies (1) \| Respond to of 62348

Scotia Discount has a policy that EVERY stop loss order MUST have a limit. So, when I asked for a stop loss (intending for the order to become an open market sell order when it traded at 1.44) they automatically read it back to me as a stop limit of 1.44, meaning that the sell was at 1.44 and no lower. If this is the case, then put a limit on your STOP at $1 or less (something like that). Ask the Chief for sure. I can't believe that they would require a limit on a STOP. Seems crazy. I guess my bitch is that I asked for a stop loss and was read back a stop limit, which I didn't catch (out of ignorance perhaps) and lost an additional $150 by getting out at 1.32 instead of 1.44 You have grounds for a serious complaint here Abbey. At the very least, I would get them to give you a rebate on the cost of the commissions. That trader should've noticed the way you phrased your request, because they are entirely different SELLS. Regards, Wisam