Setting up a stop loss in DAS Trader

[nathaniel blaiklock 0]

Hi there,

I just signed up to BBT last week and have been using the sim for the first time. I am having some difficulties with setting up a stop loss. I saw Carlos' video about the montage and deciding on market,limit stop orders etc. but he never actually gives a demonstration of entering an order with a stop loss. This morning whilst trading in sim I was trying to buy a stock with a stop market order and when i would try to enter a trigger price things kept going wrong. If you could please tell me how to actually enter in my stop loss that would be much appreciated.

Thanks,

Nathaniel

 

[Justin 262]

39 minutes ago, nathaniel blaiklock said:

If you could please tell me how to actually enter in my stop loss that would be much appreciated.

Hey Nathaniel,

First step is to make sure your Montage is in the Stop Order style:

• Right click montage at the bottom > Style > Stop Order

Your Montage Trade section will look like this:

Lets say you are long 100 shares on a stock at $50.00. And you want a stop loss at $49.80.

• Simply put 100 shares into the Share field
• Change the Route to STOP
• Change the Stop Type to Market
• Put 49.80 in the Trigger Price
• Click SHRT
   

 

[nathaniel blaiklock 0]

but why would I click SHRT when I am wanting to buy the stock and go long?

[Abiel 474]

In this video Andrew explains how to setup a stop loss in DAS Trader https://bearbulltraders.com/lessons/how-to-place-stop-loss-in-das/

 

[Justin 262]

Ah, because the instructions I posted are only for setting a stop loss. It's for if you are already long in a position.

If you're already long, and you bought 100 shares of stock xyz, and you want to set a stop loss. You need that stop loss to sell those 100 shares back to get out of your position.

Although, are you actually asking how to set up a stop loss at the same as going long or short?

[nathaniel blaiklock 0]

what I am wondering is lets say I have stock xyz that is trading right above the vwap at 50.00. I want to go long with my stop loss right below vwap, at say 49.50. How would I do that?

[nathaniel blaiklock 0]

10 hours ago, Abiel said:

In this video Andrew explains how to setup a stop loss in DAS Trader https://bearbulltraders.com/lessons/how-to-place-stop-loss-in-das/

 

i just watched the video. Thanks Abiel, very helpful. Is that a new video Andrew just posted? I haven't seen it in the education center before.

[Abiel 474]

1 hour ago, nathaniel blaiklock said:

i just watched the video. Thanks Abiel, very helpful. Is that a new video Andrew just posted? I haven't seen it in the education center before.

It is an old video.

[Justin 262]

1 hour ago, nathaniel blaiklock said:

what I am wondering is lets say I have stock xyz that is trading right above the vwap at 50.00. I want to go long with my stop loss right below vwap, at say 49.50. How would I do that?

You should 100% look into Kyle's hotkeys. It will automatically calculate how many shares to take based on your equity and how much you want to risk, it will enter a position and it will place a stop loss all with one hotkey. It will make your life a lot easier.

 

[ChartistArtist 0]

Is there a way to have this compatible with sub 1 dollar stocks? Whenever I use this on penny stocks shorting, it automatically enters me even if it is not at my entry price, I notice its on sub 1 dollar stocks. So maybe the entry doesnt work for mutliple decimal place entries? example tried to short at .153 today on vtgn, i set my entry and it fills me at .159 before ever hitting my entry