Are the trades placed before the market opens/during market off-hours or do I have to be present when the market opens?
If you are based in the UK and spreadbetting, we normally recommend that you place your trades during market hours to avoid gapping.
If you are based outside the UK and/or trading stocks/options, you can place the trades outside market hours if the broker platform has a stop-limit order functionality. Ideally, you will place the opening order conditional on the stock price (or for an option the underlying stock) doing what you need it to do, and attach a 'Bracket Order' detailing your Initial Protective stop and your P1.
Related Articles
What order types (for stocks) does my broker need to support?
For stocks, options, CFDs and Spreadbets if your broker offers a 'demo' or paper trade account you can check out their order procedures and terminology there at no risk. They should also have an FAQ, and should be happy to guide you by online video ...
How would we put in an order to close out 50% of our position with our broker?
The method to close half the position when first profit target is reached will depend on your broker's platform. Your broker will be best placed to advise on this. Ideally, you will place the opening order conditional on the stock price (or for an ...
How do I know which order type is best for my trades?
We always want to have some kind of contingency factored into our trade, based on the breakout level from the end of the flagpole. Stocks STOP-LIMIT order type is best, because the STOP part of that order is the price you want to enter the trade ...
How long would I be typically in a trade (Hours, days, weeks)?
Once you have taken your first profit target, you'll need to manage the trade using Guy's Dynamic Trailing Stop on the stock price (underlying stock price if trading options). All these are explained in the training videos. Therefore, you could be in ...
The trades I have put on have not worked, I’ve made some losses, what am I doing wrong?
The only way you can lose money with these methods (if applied correctly) is on a false breakout. In other words, you get triggered into a trade, and then it retraces and stops you out before P1. This scenario is highly unlikely if: A) The flag or ...