StockFetcher Forums · Stock Picks and Trading · Basic Newb question<< >>Post Follow-up
Carmackjw
12 posts
msg #149894
Ignore Carmackjw
12/15/2019 2:43:43 PM

I utilize the Run Forest Run filter with a little bit of my own add-ins in addition to the ADR twist. My question is, the premise of this filter is to buy when stocks go up from the previous day close. What type of order would I place using Ally invest to insure that I buy at the closest price to the previous days close, without buying when it goes down. Is this a buy stop versus a typical market limit order?

When I attempt to buy CYTK at any price above it’s previous close ($10.65) it says I’m placing an order on the wrong side of the market (when I place a buy stop)??? I know I have to be missing something and am definitely new at this. Any advice is appreciated. I simply am trying to place an order for Monday morning, that if CYTK increases to $10.66 (showing signs of green and going up) it will buy at 10.66, I do not want to buy if it goes down below $10.65. Please advise. Thanks

Carmackjw
12 posts
msg #149895
Ignore Carmackjw
12/15/2019 7:47:22 PM

Must have been a hiccup with ally invest, the buy stop order is now working correctly.

miketranz
956 posts
msg #149904
Ignore miketranz
12/17/2019 4:23:25 PM

I'm going to answer your question.On Monday,the stock opened up at $11,which was above your order of $10.66.If a market order was placed,you would have been filled somewhere or anywhere from $11 and down,as the stock sold off hard on the open.In theory,yes it's good business to place an order "above the market",let price trade through it and you're filled going in the right direction.However,it's not a good idea to place any orders "pre market".You're rolling the dice.It's a highly risky proposition.Best,Miketranz...

JoeyVinyl
125 posts
msg #150822
Ignore JoeyVinyl
2/19/2020 9:52:03 AM

I know this is a couple of months old, but I use Ally too.

If you're trying to place a pre-market order (before the market opens) and your buy-stop is lower than the ask price you'll get that message. In that case it's best to wait until after the open to see which way it's going, keeping in mind that sometimes stocks will jump up in the morning only to fall a few hours later. It's easy to think "I want in on this!" and buy at a higher price than you planned, but it's dangerous.

sandjco
648 posts
msg #150825
Ignore sandjco
2/19/2020 12:45:19 PM

I try to avoid placing any orders during the first 15 minutes. "Try" is the key word.

StockFetcher Forums · Stock Picks and Trading · Basic Newb question<< >>Post Follow-up

*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.


Copyright 2022 - Vestyl Software L.L.C.Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.