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Well my position sizes are small enough where I should get my fill for my sell. This is my first sell with CMC so I'm not sure if there is a settlement delay or not. I follow skate with slippage by putting in limit orders with 3% slippage (i.e. Friday's close price + 3% in a limit order).

This leads to a follow up question. Does everyone do something similar with sell orders? I.e. a limit sell order with 3% slippage?
 
Warr87 said:
Well my position sizes are small enough where I should get my fill for my sell. This is my first sell with CMC so I'm not sure if there is a settlement delay or not. I follow skate with slippage by putting in limit orders with 3% slippage (i.e. Friday's close price + 3% in a limit order).

This leads to a follow up question. Does everyone do something similar with sell orders? I.e. a limit sell order with 3% slippage?
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I do this with 2 to 3% added/removed from close on friday price
With belldirect, i need to have the cash so the sell confirmed, not 2 days, just sale confirmed then i csn enter the buy order,
as i mentioned in my thread it can be an issue
A lot depends on what CMC allows
 
Warr87 said:
Well my position sizes are small enough where I should get my fill for my sell. This is my first sell with CMC so I'm not sure if there is a settlement delay or not. I follow skate with slippage by putting in limit orders with 3% slippage (i.e. Friday's close price + 3% in a limit order).

This leads to a follow up question. Does everyone do something similar with sell orders? I.e. a limit sell order with 3% slippage?
Click to expand...

I don't I think understand this correctly re the close limit order. If your sell price is $1 and you allow for 3% slippage, ie. Sell at 97c. Does that mean you won't sell below 97c. Which doesn't make sense as you may be holding tanking stock.
 
I think what QF is saying is if you want to sell, then be willing to receive 3% less than last close, if buying, be preparing to offer 3% more than last close.....

Re the question on similtaneous buy and sell signals:
My main account is with CMC. If you enter a buy order out of hours, they'll cancel it the moment the markets are open and you have insufficient A/C balance. So would need to close the position with Sell signal then wait a day or two before entering the new Buy signal.
 
Newt said:
I think what QF is saying is if you want to sell, then be willing to receive 3% less than last close, if buying, be preparing to offer 3% more than last close.....

Re the question on similtaneous buy and sell signals:
My main account is with CMC. If you enter a buy order out of hours, they'll cancel it the moment the markets are open and you have insufficient A/C balance. So would need to close the position with Sell signal then wait a day or two before entering the new Buy signal.
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Exactly what i i met, but you hope to sell buy nearer from the ladt close obviously yet allow room for variation in the initial open
Belldirect seems to act as CMC does
A bugger as it means i need to be on my computer at 9am qld time on Monday to enter the buy, once sell is done
 
Rsthree said:
I don't I think understand this correctly re the close limit order. If your sell price is $1 and you allow for 3% slippage, ie. Sell at 97c. Does that mean you won't sell below 97c. Which doesn't make sense as you may be holding tanking stock.
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I also can't enter a market order when the market is closed. Which makes it difficult as that was what I was originally going to do.

Thanks for that @Newt. Not sure what I think of CMC right now but I'm going to give them a fair chance. I'm not a fan of having to pay money to see market depth either.
 
Warr87 said:
I also can't enter a market order when the market is closed. Which makes it difficult as that was what I was originally going to do.

Thanks for that @Newt. Not sure what I think of CMC right now but I'm going to give them a fair chance. I'm not a fan of having to pay money to see market depth either.
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BD allows you to enter your sell during the weekend but these orders can be wiped out during the initial Monday morning open price negotiations.not perfect
 
I'll just have to pay closer attention. I usually just put in a limit order and if I get it, then I get it, others I will move on. Harder with a sell order.
 
Got my sell for CL1. By the time I took a coffee break at 10am I was able to put in my order for AVH.

My orders are getting filled pretty quickly. Do people think its worth putting in the limit orders for +/- 3%, or should I try and nail that down to 1 or 2 %. The potential downside is not being filled. Probably shouldn't micro manage this, but I do have the temptation to get a better price.
 
Warr87 said:
Got my sell for CL1. By the time I took a coffee break at 10am I was able to put in my order for AVH.

My orders are getting filled pretty quickly. Do people think its worth putting in the limit orders for +/- 3%, or should I try and nail that down to 1 or 2 %. The potential downside is not being filled. Probably shouldn't micro manage this, but I do have the temptation to get a better price.
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If CMC works like belldirect, there is a kind of preopen "auction"
You give your max price to buy or min price to sell, all these figures are gathered and the opening price decided then at ooen, that price is used, it does not mean, in no way that you will pay your worst case scenario, that open price is most often quite reasonable and my issue is often to get a buy anywhere like the open price later
There is also a bit of liquidity at the open.
Today i had to chase PSG and ended up paying nearly 2% above the open price...
 
with my buy orders, I've found I don't hit the upper limit of my limit order. So those are good. The sell I had today I got at exactly my limit (which included a 2% slippage added). And you are right, at the open is the biggest liquidity, particularly on a Monday.
 
Warr87 said:
with my buy orders, I've found I don't hit the upper limit of my limit order. So those are good. The sell I had today I got at exactly my limit (which included a 2% slippage added). And you are right, at the open is the biggest liquidity, particularly on a Monday.
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Your sells were done in a collapsing market today, you have been lucky to be able to sell at all !!
 
to add to a number of other people's observations, I have also been hit relatively hard by todays low. I was ok with Monday's terrible open (it didn't affect me too much) but today my system has been hit even harder. I'm not worried. My system has been tested rigorously. I am more looking forward to when the market rebounds so I can catch some more winners. The weaker stocks will be shaken out of my portfolio and I will replace them with stronger ones. And those that are still with me during this will only do better after.

I will likely add some more capital to my account as my saving efforts have been doing good.

For those reading and trading systems. Stay the course. You can't win if you're not in the game.
 
Week 5

Not a good week. Just got into full loaded portfolio and hit with a massive down (from 7200 to 6500 on the XAO).

My portfolio went from +1.5% to -12% (represents a -6R loss in one week).

Unsurprisingly my system has set the index filter to 'down' so my SL have tightened and I wont initiate any buy signals.

Buy: None (index filter)
Sell: RUL (SL), ALG (sell signal), NEU (sell signal), CCX (sell signal), DTL (SL), AEF (sell signal), RMC (SL), MSB (SL), ORE (sell signal), VRL (sell signal), PAR (sell signal), PPH (sell signal), AVH (sell signal)

I had consolidated some other money (had some in smaller funds) and had planned to put this into my system. May be a decent idea to do so to bring my position size back up when my index filter turns back on and the market should rebound. I had planned on adding to my account until it gets to an appropriate amount.

Pyschological factors: obviously with the down market I have the urge to fiddle with my system and keep the positions that I currently have knowing that they will probably bounce back. But my system says sell. It's a terrible idea to hold onto a position and hope that it will rebound. Do as the system says. Overall though, I am not too worried by the current market. My system has already turned on its filter so even if it does continue to drift down I will be protected. The real worry will be my fills on monday's open. This will be interesting.

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100% with you on the Psychological factors part.there will be a bounce and we will miss it. But if the systems say sell..
 
Hopefully a cliffhanger, and not a horror movie, haha.

I imagine a number of value investors will come out of the woodwork too. Let's hope that a number of people will try and enter the market next week for some bargains so I can offload my positions with decent fills.

Next week will be interesting.
 
Shuttttt.
Actually an Israeli firm has pratically found a vaccine
Buy the dip.look at the long term trend.bargains now everywhere
 
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