week of 15 August thru 21 2016

[blygh]

And they are out of the gate

Rider	Horse	Open	Latest	Gain/Loss	Percent	Stop	Limit	Rank
Tiarra	GPS short	25.16	25.39	+0.23	-0.91%			4
Ira	LMT	264.22	266.50	+2.28	0.86%			2
SD	BLCM	19.75	19.18	-0.58	-2.89%	18		5
Spiderman	UNT	15.07	15.57	+0.50	+3.3%			1
Blygh	ACIA short	99 stopped	102.33	-0.90	-3.36%	99	86	6
Market	SPY	218.89	219.09	+0.20	+.009%			3

Spiderman continues to break into first place out of the gate and leads
I was unsure how to evaluate my position - ACIA opened above my short stop.  Since that is where I chose to cover and would have bought it there to pay back the short sale I choose that as my starting point.  But I am willing to listen to what other players think on the matter.   

[blygh]

Into the far turn most of the field is back at the starting gate

Rider	Horse	Open	Latest	Gain/Loss	Percent	Stop	Limit	Rank
Tiarra	GPS short	25.16	25.15	-0.1	-0.%			2
Ira	LMT	264.22	256.77	-7.45	-2.82%			5
SD	BLCM	19.75	19.72	-0.03	-0.15%	18		3
Spiderman	UNT	15.07	15.68	+0.61	+4.05%			1
Blygh	ACIA short	99 stopped	102.17	-0.90	-3.36%	99	86	6
Market	SPY	218.89	217.96	-0.93	-0.43%			4

Spiderman leads (as usual)

[sd]

[font size="3
I think it's fair to assume that if we use stops- and price gaps open above or below our stop- we use the opening price as the price our trade would execute.
This is what would occur in real time trading, as the stop level is exceeded, it becomes a sell-at market- and would execute almost immediately at the open .
The same should hold- If I use a Buy-stop without setting a limit, If price gaps open well above my buy-stop, my order becomes a market order to Buy at whatever the market price is at that time.


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[blygh]

And into the back stretch 

Rider	Horse	Open	Latest	Gain/Loss	Percent	Stop	Limit	Rank
Tiarra	GPS short	25.16	25.46	-0.30	1.19%			2
Ira	LMT	264.22	256.54	-7.68	-2.91%			4
SD	BLCM	19.75	18.84	-0. 91	-4.61%	18		6
Spiderman	UNT	15.07	16.09	+1.02	+6.77%			1
Blygh	ACIA short	99 stopped	115.29	-12.06	-3.36%	99	86	5
Market	SPY	218.89	218.37	-0.52	-0.43%			3

Spiderman leads
Made an earlier mistake - Tiarra is SHORT GPS 

[blygh]

So SD - do you think my opening position should be where ACIA actually opened then stopped  out at that point which would make my net gain/loss zero??- That would substantially improve my standing

Blygh

[sd]

Hi Blygh-
In the beginning, you set out the guidelines as to the source you would use to determine prices trades execute at- m I don't recall what that source was, but i'm good with using a consistent source for market information, because it can vary. I use Stockcharts, and their opening price information suggests $103.23 was the open, and then price pulled back lower-
Whatever your reference is at the open , we will use it.
Since you were short ACIA, and had a stop-loss at $99.00, you were expecting price to open below the $99.00 level and decline further- Your net loss on the trade should be the difference between the $99.00 stop and the actualOpen price. If stockcharts were accurate, your net loss would be approx -4% - However, there can be a lot of variation- so please continue with whatever source you are using to determine the trades open and closing prices-
I am attaching the Stockcharts chart- the Open is the top of the solid green bar and then price declined back lower.
The chart is a 2 day chart- The 12th & the 15th- I cut off the date/hours on the bottom accidentally- (lost my mouse- can't stand this scratchpad)
The same is true if I choose to enter a trade with a buy-stop- If I set a buy-stop at $60.00, and price opens at $62 - my reference point for the trade has to be the opening price.

While this is some added trouble for you tracking this, I think this is more realistic in the way many of us trade- and - over numerous trades, the application o where one uses stops-
may prove to be a significant determination of one's long term success.

[blygh]

SD
I said I would use Yahoo Finance for open prices - this is what dg used . The 3.36% negative return was the difference between my stop and the Monday closing price. DO you think it should be the opening price??Blygh

[blygh]

In to the clubhouse turn

Rider	Horse	Open	Latest	Gain/Loss	Percent	Stop	Limit	Rank
Tiarra	GPS short	25.16	25.86	-0.70	-2.78%			3
Ira	LMT	264.22	255.42	-8.80	-3.33%			4
SD	BLCM	19.75	18.45	-0. 91	-6.58%	18		6
Spiderman	UNT	15.07	17.47	+2.40	+15.93%			1
Blygh	ACIA short	99 stopped	117.86		-3.36%	99	86	5
Market	SPY	218.89	218.86	-0.03	-0.01%			2

Spiderman way out in front  

[sd]

"I said I would use Yahoo Finance for open prices - this is what dg used . The 3.36% negative return was the difference between my stop and the Monday closing price. DO you think it should be the opening price??Blygh"
Hi Blygh,
My initial thinking was flawed-sorry- See if this makes sense-
I think you would automatically have to use the opening price- if it exceeds your stop order, and definitely Not the closing price. Now that I am rethinking this, I think you got off Scott free on this trade- with a $0.00 loss and here is why.... You did not specify a target price that you would use to go short-
Therefore , your market order to go short was whatever the opening price was. That was the primary order. Your order to short was filled at the opening price-
The secondary stop-loss order was to be a seller at a price lower than the open-In this case $99.00- price -once exceeded- would become a market order to cover the short-
Your short position would immediately fill at the open- assume $103.23 might have been the correct open- , and that would then immediately activate the stop-loss order- which would also be sold at market - almost immediately- In the real world there would have been some slippage perhaps, but with today's fast electronic fill of orders, it would be negligible.
I would assume the trade would be a wash- and you would be out at 9:31 am with no penalty-
Had you taken the short position on the prior Friday close- and entered the short trade at $98.00 , the $99.00 stop would have filled at the $103.23 opening price on monday .
Does that sound reasonable?

[blygh]

Sounds reasonable to me - I actually had this stock - ACIA but sold it at 93 - d**n that frosts my buns.
Blygh

[blygh]

And out of the home stretch . . .

Rider	Horse	Open	Latest	Gain/Loss	Percent	Stop	Limit	Rank
Tiarra	GPS short	25.16	25.89	-0.73	-2.9%			4
Ira	LMT	264.22	254.12	-10.10	-3.82%			5
SD	BLCM	19.75	18.12	-1.63	-8.25%	18		6
Spiderman	UNT	15.07	17.37	+2.30	+15.62%			1
Blygh	ACIA short	103.23 stopped	117.86	114.70	-0%	99	86	2
Market	SPY	218.89	218.54	-0.35	-0.16%			3

And for the third week in a row Spiderman takes the race

After consulting with SD the most consistent interpretation of the rules is that i shorted ACIA at the first trade above my short 'offer'.  So I shorted at the opening price but because I was above my shorting price, the short was covered at the first trade - so I ended up with bumpkis - which given this week was good for second place.  Other opinions solicited. 

[blygh]

Total return            # wins

Rider	7/16- present	Total wins 2016
Tiarra	-17.4%	5
SD	-14.6	2
Ira	19.63%	8
Blygh	5.2%	2
Spiderman	29.4%	6
Joe		2
Bankedout

Spiderman is up 29.4%over three weeks - Wow

[blygh]

I expect a down week led by gold - CDE short limit 12.50
Blygh

[sd]

Congratulations Spiderman-! 3 weeks in a row and a winning long position this week!

THE WINNING CHART:

[sd]

THE REST OF THE PACK- NOT IN ANY SPECIFIC ORDER-bLYGH'S hORSE WAS POSTED EARLIER