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 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. Typically you would place a stop/limit order to open, with a 'Bracket' order attached ...
When you get triggered on day 1, are you happy to let it all automate? i.e. let you stop/limit take you out without looking at the charts again?
You have to manage your trade, profits, and losses, according to the trade plan. This means that you revisit every open position or order on a daily basis. First profit can often be automated by means of a limit order, it depends on your broker ...
How do I enter a Trade when the price gaps? How do we know that the price has gapped too much?
Your entry point should always be the high (for Long) or Low (for Short) of the consolidation or other pattern. (Unless using Guy's specific methodology for entering without a breakout) If the stock has gapped by some distance, then you do not have a ...