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Question: From Thinkorswim: Trailing stops doesn't work on OTC stocks
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Author Topic: From Thinkorswim: Trailing stops doesn't work on OTC stocks  (Read 5204 times)
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Kareem
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« on: November 04, 2013, 06:42:53 PM »

I looked out how to open a new topic but i didn't find but opining a new poll.
I trade virtually on Paper Money of ThinkorSwim and i'm so confused because the trailing stop lose doesn't work correctly with OTC stocks which i prepare myself to trade it live after becoming a gold member. It's so many times which i found the orders filled without the price even touch the stop price, so, i messaged them and they said that trailing stops generally doesn't work on OTC stocks, and in real trading it won't allow me to do a trail stop on an OTC penny stock and in that case i need to use a regular stop loss order, not trailing. So, i wanted to ask about the most suitable way when using stop lose when trading OTC stocks, especially that we all know that getting out of the stock is more challenging when it comes to penny stocks. Thanks and i would appreciate your replies including the the Dr's reply:) .  Great for me to be here.
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Vegas
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« Reply #1 on: November 04, 2013, 11:41:51 PM »

I personally can't offer an opinion as I have never used a stop in trading but I'm sure some of the guys do and may be able to offer an opinion... I am going to move this to the technical analysis forum as it is better suited for that forum...

Welcome to the forum...
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Kareem
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« Reply #2 on: November 05, 2013, 06:56:53 AM »

Yes, i think it's the correct forum for that topic. Thank you Vegas for your reply. I wish some guys will tell us what is the right way to use stops and what they do with it when the price move higher, should i cancel it and put a higher stop, or what is the right strategy with it.   
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Dr PennyStock
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« Reply #3 on: November 05, 2013, 08:51:23 AM »

Welcome aboard Kareem Grin

In fact, in most of the brokers, you cannot even use stop losses on otcbb stocks, but, even if it is possible, I strongly advise to NOT use them, because the MMs(Market Makers) see them, and, many times, they provoke artificial sell-offs only to catch these shares, and, in a couple of minutes, they recover the price to the previous level. Many years ago, I used them to experiment, and, this happened to me several times, when I was sure that this was manipulated, I never used them anymore. You need to use mental stop losses.
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Kareem
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« Reply #4 on: November 06, 2013, 02:32:49 PM »

Thank you Dr. I found other replies from you with more details in another topic talking about the same thing. Preparing myself to be a gold member after like 3 weeks, i'm just completing my documents before sending it to the broker, so, i'm learning from your forum until my beginning just to be able to deal with your recommendations and to do it right.
I have a job and it take so much time but i'm lucky for being free during the hours from the opining of the market until it's closing, so, i want to be no more than a FOLLOWER of your daily recommendations, i don't have any time to search for myself or to learn until being a self sufficient.
Therefore i want to ask you Dr, if I could use the platform correctly, could put orders right and could enter into the trade in the right time, will I be able to gain success depending on your buy/sell alerts or do I need anything else to be able to follow your recommendations?
 Thanks .
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Dr PennyStock
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« Reply #5 on: November 07, 2013, 10:47:34 AM »

Thank you Dr. I found other replies from you with more details in another topic talking about the same thing. Preparing myself to be a gold member after like 3 weeks, i'm just completing my documents before sending it to the broker, so, i'm learning from your forum until my beginning just to be able to deal with your recommendations and to do it right.
I have a job and it take so much time but i'm lucky for being free during the hours from the opining of the market until it's closing, so, i want to be no more than a FOLLOWER of your daily recommendations, i don't have any time to search for myself or to learn until being a self sufficient.
Therefore i want to ask you Dr, if I could use the platform correctly, could put orders right and could enter into the trade in the right time, will I be able to gain success depending on your buy/sell alerts or do I need anything else to be able to follow your recommendations?
 Thanks .


I am not sure if I understood well your question, I will send you a PM(Private Message)
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