I’m an Advisor.
I had UNH for a client that we bought for 30k, it had run up to about 200k, big winner. I suggested we use stops to let it run.
The stock was at 210, I put an order in at 199 stop loss. The stock went down from 210, to my stop (the penny), then shot right back later in the day to the 210.
Total theft.
“Im an Advisor.”
I hope you don’t follow your own advice!
What are you saying? Are you saying the stock was manipulated to take advantage of a stop loss order? Stocks in the $200 range can swing $10 several times a day. I would say the stop was way to tight and you lost it on a simple dip, prolly around lunch time. How many shares?
I have traded professionally. The futures markets do this continually. Floor traders have control of “sweeping” positions” up for gain when the trend is known.
Sometimes it seems like using no stop is the best strategy. I mean, how often do complete instantaneous
collapses of positions really occur?