DislikedNot at all, First.. I have to agree with.. DB about dynamic vs static entry's. I was listening to Jim Cramer last night, and he said.. if you can't be there to execute your trades, then you shouldn't be trading, I agree with that.
With that said, An entry at 1.0630 for a sell.. I'll be straight with you.. Lets play pretend.. and say, you put your limit order at 1.0630 and go to do something whatever you won't be present at your computer..
So lets see that the market does go up to 1.06xx and then upto 1.0630 and then boom your sell order is "hit"...Ignored
There's some truth to this, but just because you have a limit order doesn't mean you don't have a SL when you get in the position. So, there goes pretty much your whole post.
I don't mind if my broker knows where my SL is, because I know I'm just an ant to him. What is he going to make by stopping me out, a couple bucks? He's after bigger players, and then they have ways of dodging him!
I would strongly advise putting at least SL's if you're new. That would be stupid not to. Decide a level you want to exit instead of just watching your money be transferred to another account. Assume you will lose the trade and then decide how much you will be losing.
Jim Cramer, that guy's an entertainer. He uses limits.
Play the players, not the cards.
