Place your Stops first?

fibonelli said:
As a newbie trader still under training, I came across this video from another forum.

Oscar Carboni, a 24 year veteran analytical trader, says that you should place your stops first before placing the trade.

http://www.youtube.com/watch?v=5evLCIbM1pY&eurl=http%3A%2F%2Fwww%2Efuturestraders%2Ecom%2Fmodules%2Ephp%3Fname%3DDaily%5FVideo
Click to expand...

That was an interesting link. Thanks very much. Well worth a few minutes. I'd never thought of his idea for placing the stop first in case you reverse, although you'd need to be unlucky for the share to do that in that short space of time. With index trading it is unwise not to put a stop on to get you out as soon as your plan has gone wrong. There, just, is no point in being in it, then.
 
Hey Fibs nice link. I love the guys 'energy' reminds me of the old east end barrow boys.
I just signed up to the site. If he's been doing it for 20 odd years he should have a smattering of how to trade eh?
 
Hey, call me shakespear........

This guy's amazin, his video's amazin, its tells you everything what he knows about trading.. which is nothin.....
 

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Crap Buddist said:
This guy's amazin, his video's amazin, its tells you everything what he knows about trading.. which is nothin.....
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Ain't you got big eyes, Grandpa!
 
Splitlink said:
Ain't you got big eyes, Grandpa!
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Ta, but thats how old rodney would of dealt with that one I feel.. That trader is or has done his planning, good, he believed the trade was long. now to advocate placing a sell stop first, and if you are short to open based on that, then your whole idea of your belief the market was wanting long, maybe wrong.

hey so now we are short, not that we believed that, but all of a sudden we can now assess total descretionary on this sudden short position can we ? lol by the way this shock of now being short has left the trader maybe thinking sh1t wheres my stop on this new short , (i havent entered it yet ,lookie now the market trading 10,12,15,18...... and ive sold short 5.

I can see a point for some if they dont give a hoot and just go with whatever hits first and that'll be our posish, but that suggests having a punt on price fluctuations and not speculating on direction based on considered observations. The difference between gambling and trading.

But i did like the use of tweezers in his clip. :)
 
Crap Buddist said:
Ta, but thats how old rodney would of dealt with that one I feel.. That trader is or has done his planning, good, he believed the trade was long. now to advocate placing a sell stop first, and if you are short to open based on that, then your whole idea of your belief the market was wanting long, maybe wrong.

hey so now we are short, not that we believed that, but all of a sudden we can now assess total descretionary on this sudden short position can we ? lol by the way this shock of now being short has left the trader maybe thinking sh1t wheres my stop on this new short , (i havent entered it yet ,lookie now the market trading 10,12,15,18...... and ive sold short 5.

I can see a point for some if they dont give a hoot and just go with whatever hits first and that'll be our posish, but that suggests having a punt on price fluctuations and not speculating on direction based on considered observations. The difference between gambling and trading.

But i did like the use of tweezers in his clip. :)
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I've been thinking about this one, too. It does not apply to me because, at present, I am a spreadbetter and this could be a bit involved. Nevertheless, you would not be short until triggered, therefore, it would have got you out of a long and incorrect trade if you had been in it. So what is wrong with putting a stop behind your short, if triggered, and seeing what happens? Perhaps, if it jerks up before the stop is triggered you could ....................Oh, well, all sorts of things :LOL:

I'm getting old for this crap!

Split
 
Well it looks like Split watched and listened to the vid more than you did Crap.

The guy isn't advocating a long position then going in with a short order!

Wouldn't that be stupid Crap?

It is a stop order placed in the market before the buy trade goes on. Anyone who has scalped or day traded knows that just sometimes the market can take off against you before you get a stop in place. And as he points out, you got the direction wrong to start with but hey, guess what?
That wrong call now has you the right side of the market.

"Tweezers"? Crap.

Wash your eyes and ears, then look at the vid again. Engage brain before engaging mouth. Lol

I'll reserve judgement on his trading prowess. I don't know the guy. So time will tell. But if he's been doing this for 20 odd years, I don't think he is a fly by night. I shalll watch and listen and then I will see. All it is going to cost me is my time. It is a free sign up and site. Which is rare for this type of thing.

I know there are plenty of other people I would not even give my time too; let alone anything else.

Open your mind Crap Buddist. I thought you followed the path to enlightenment. How can you see if your mind is shut?
 
options said:
Well it looks like Split watched and listened to the vid more than you did Crap.

The guy isn't advocating a long position then going in with a short order!

Wouldn't that be stupid Crap?

It is a stop order placed in the market before the buy trade goes on. Anyone who has scalped or day traded knows that just sometimes the market can take off against you before you get a stop in place. And as he points out, you got the direction wrong to start with but hey, guess what?
That wrong call now has you the right side of the market.

"Tweezers"? Crap.

Wash your eyes and ears, then look at the vid again. Engage brain before engaging mouth. Lol

I'll reserve judgement on his trading prowess. I don't know the guy. So time will tell. But if he's been doing this for 20 odd years, I don't think he is a fly by night. I shalll watch and listen and then I will see. All it is going to cost me is my time. It is a free sign up and site. Which is rare for this type of thing.

I know there are plenty of other people I would not even give my time too; let alone anything else.

Open your mind Crap Buddist. I thought you followed the path to enlightenment. How can you see if your mind is shut?
Click to expand...

I did look at it all, actually, and the previous day's. The man is a salesman and has charisma, so watch it and pick the wheat from the chaff. I'm going to watch a few more.

Split
 
linesniffer said:
Done that bit. Just wondered why SL and CB were making such a meal of it?

:|
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It's Sunday, they got up late, haven't had breakfast and are getting hungry :) Looks like they are turning cannabalistic :eek:

Split
 
options said:
Well it looks like Split watched and listened to the vid more than you did Crap.

The guy isn't advocating a long position then going in with a short order!

Wouldn't that be stupid Crap?

It is a stop order placed in the market before the buy trade goes on. Anyone who has scalped or day traded knows that just sometimes the market can take off against you before you get a stop in place. And as he points out, you got the direction wrong to start with but hey, guess what?
That wrong call now has you the right side of the market.

"Tweezers"? Crap.

Wash your eyes and ears, then look at the vid again. Engage brain before engaging mouth. Lol

I'll reserve judgement on his trading prowess. I don't know the guy. So time will tell. But if he's been doing this for 20 odd years, I don't think he is a fly by night. I shalll watch and listen and then I will see. All it is going to cost me is my time. It is a free sign up and site. Which is rare for this type of thing.

I know there are plenty of other people I would not even give my time too; let alone anything else.

Open your mind Crap Buddist. I thought you followed the path to enlightenment. How can you see if your mind is shut?
Click to expand...


Yes he is advocating going short, by placing your sell order first ! he said and ive only watched it once, if its hit when you enter you sell order fist, then you make money when the market tanks south! I'' re watch the clip later, and if i have misheard him then, i'll retract, but at the moment that guy said enter your SELL order 1st ! :)

At the mo I stand by what i said. if his original belief that the market was long, and his sell order entered 1st now has him short,,which he is suggesting, then he thinks thats a good short to have because its been hit first?

what he said was enter sell 1 @ 05, first didnt he ? thats an order to sell, hold in mind he hasnt bought to open yet, then he says hey if your sell order is hit first ,your coool cos ya making money on the sell side, he said somethin like even your stop can make money for ya or something...... because your long view is wrong.

I'll have another lookie later.

LOL, ive said that 4 times....
 
linesniffer said:
Eh! Eh! Calm Down!
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Linesniffer I am calm matey...... but to enter sell 1 @ 05 first aint no stop loss order on a long trade. Nobody else has heard that, unless i dreampt it in the video....
 
Crap Buddist said:
Yes he is advocating going short, by placing your sell order first ! he said and ive only watched it once, if its hit when you enter you sell order fist, then you make money when the market tanks south! I'' re watch the clip later, and if i have misheard him then, i'll retract, but at the moment that guy said enter your SELL order 1st ! :)

At the mo I stand by what i said. if his original belief that the market was long, and his sell order entered 1st now has him short,,which he is suggesting, then he thinks thats a good short to have because its been hit first?

what he said was enter sell 1 @ 05, first didnt he ? thats an order to sell, hold in mind he hasnt bought to open yet, then he says hey if your sell order is hit first ,your coool cos ya making money on the sell side, he said somethin like even your stop can make money for ya or something...... because your long view is wrong.

I'll have another lookie later.
Click to expand...

I can't, quite, see what is the matter with that, for an intraday trader. Longer term, I would have a longer view but last year I day traded indices, before I got fed up with it. Maybe, if I had done what he says, I would not have got fed up with it!
The fact is, I got the direction of the trade wrong more times than right. What he suggests merits looking into.

Split
 
The sell stop is in the market. Waiting to be activated. It is not a market order.
 
options said:
The sell stop is in the market. Waiting to be activated. It is not a market order.
Click to expand...

it is a market order(sell stop order), that way as he said you can make money, when it tanks south through 05?
 
Last edited:
options said:
Once, or if, it is activated!
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nope, options, ive just rewatched it, look at the video starting 7.50 to 9 mins, he says markets at 20 you want to buy at 10 for long, but enter a sell 1 at 05 First, that way you will be short the market, which is the position to be short and it will be open short triggered 05. So all this long planning, your now short 05. which is what he said a trader should be.

Have a watch of it. he uses a sell stop order ?
 
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