"... however I will, in the future, set a price at which I will sell on the day I buy a share, and stick to it... moving it up if the sp goes up but not moving it down as it comes closer to the share.
That is my big lesson from Lynas.."
rastus, good thoughts, btw not sure why this thread seems to be all about stops lol
Not that it would mean much to most LT holders, more so for the trader, but there are a vast choice of stops available, a lot can be seen below, of these my standard use are the 'Fix Loss stop', which is backed by the typical ''Trailing Profit stop'.
But the one that is most favourable to trade with is based around a trailing stop that tightens if the spread of the bar increases whilst in the trade. ie. It bursts into action, most probably the pros are having some fun and cause of this it could reverse quite quickly.
Say after a consolidation period or trading range where the spreads or range of the bars are relatively quite low or narrow, then as the trade begins to move or burst out of the TR into profitably, the bars spread will increase dramatically.
So that one can grab as much of the profits available, the stop will tighten, which is different from the normal Trailing Profit stop. When the price reaches a plateau, then the tightened stop will take out the trade before it reverses significantly.
On the other hand, if the price moves against your trade, that volatility will also cause the stop to tighten and take you out earlier than a conventional trailing stop would do.
LYC Price at posting:
56.5¢ Sentiment: None Disclosure: Not Held
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