157. How to Use a Trailing Stop When Day Trading Stocks

[justmeinnh2]

David, loved the right click and custom order! I knew there was a way to do it, but couldn't figure it out. Thanks!

[mysteryuser2]

thanks! learned a lot!

[santhoshsats]

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[TeraStellar]

Well - it would be nice to get an explanation of other trailing stop choices. I'm looking to do 3% below and I don't know what the Link=AVG Price does. Avg for what period?

[alvanwallen]

GREAT explanation of HOW to set up a trail stop!!! I will NEVER ever place a trade w/o setting a trail stop!

[TheFlannelshirt]

New live trading room using ThinkorSwim opening soon.

They'll be trading all futures markets.

[studentoflife01]

What's the difference between stop and limit orders?

[RruuhzyA]

@studentoflife01 a stop order executes when the price drops to your set price. a limit order executes when the price rises to your set price or higher.

[uabericm]

I was wondering how well trailing stop losses work for option plays. I have used trailing stop losses for multiple stock plays and they work great. Is there any difference in the use of a trailing stop loss on an option play?

[omsc1999]

Dear David,

Thanks a lot for all your very nice lessons. Just I have a question. If I sold a call option on my stocks let say for Oct 09.  and now I need to close this call option in sept 09 as with call option I can't put stop order or trilling stop order so how can I solve this problem?

Thanks

Kathy

[toapeth]

FROM BELOW

that is can i manually move my stop after placing a trade?

[toapeth]

Hey, awesome vids, these r so helpful. I was wondering with think or swim can i adjust the trailing stop myself. For example the stop might be set to trail by $10 as in your example, but once i see that the stock has gotten close 2 my target ($130 in your example) say $128 can i set my stop 2 now only trail by $1 to ensure better profits?

[dgmoocher]

WOW. Now I feel dangerous :)))

Thanks for the informative reply. I'll check your suggested vid....and THANKS!

Great forum, great vids, great traders.

[dgmoocher]

These are great videos and have helped me a lot! I have a question RE: trailing stops: in the beginning, the example shows an order for stock at 100, with $90 T.S. Does this mean my stock with trail the mkt price BY the $90? Or would I enter the number $10 instead. Thank you for your great modules!

[dormin64133]

the example in the video he bought the stock for $100 and wanted a $10.00 trailing stop so he initally placed it at $90.00 if the stock moves upwards the the trailing stop price automatically ajusts upwards in your favor,if the stock is at $117 & the trailing stop is at $107 and then the stock moves to $107 then your sell order would have been executed. If you set your trailing stop to $10.00 your stock would have been sold at $10.00 if the stock ever reached $10.00 2:15 explains it best

[dkw12002]

That works, but as a day trader, if my $100 stock goes to $120, I SELL. Plus volatile stocks will take out your stop most of the time then climb back up leaving you out of the profit and the stock. I just put in a stop loss at the time I buy and adjust that IF my thinking changes later. I find I make more money that way.

[JetCharterGirl]

That rocks! Thank you for your videos.

[TopFaia]

very good guide =)

I primarily trade in FOREX but this type of protection will be most helpful.

hope to look at more of your guides in the near future =)

[joshuacsk]

dear david,

just wanna tell u,

i appreciate your effort in making all these video. really impressive. =)

i am a newbie to option trading,

and recently i face an

unknown term of 'roll up' and 'roll out'

i not sure how it really works,

so i thinking whether you may be interested to making this topic?

sorry for the trouble. =(

looking forward your reply. =)

[InformedTrades]

Glad to hear form you and thanks for the comment. I have to admit that I am not familiar with those terms either, what was the context that you heard them? Best Regards, Dave

[kinouye]

is this through the platform..or through the website?

[InformedTrades]

Hey Kinouye, This is through the Thinkdesktop software so the platform. Best Regards, Dave

[BooBreezyTv]

GREAT STUFF!!! I just finished this module and it gave me a very clear understanding everything , from how the markets works to how to basically how to start trading stocks. LOVED IT!!! QUESTION. Which trading platform do you recommend for real money day trading?

[InformedTrades]

Hi BooBreezyTv, Glad to hear from you and thank you for the compliment. For real money daytrading I recommend the Thinkorswim platform. Best Regards, Dave

[erdal0]

hmm im knew in this scene

what is that program called

and where can i begin best