I'm pleased to announce that my new book on Stop Orders will be published by Harriman House (financial publishers) on 24 August 2009. You can pre-order it now at a discount.This book describes the one essential weapon in the armoury of every trader, investor, and spread better – the Stop Order.
If you think I said Stop Loss Order, think again. The application of stop orders is as much about protecting profits as it is about avoiding losses. And if you think you saw ‘investor’ in my list of people who can benefit from stop orders, you don’t need look again. I really did say ‘investor’.
Do you think you know everything there is to know about the humble stop order? Well, it’s not so humble when you consider that there are buy stops and sell stops, trailing stops, guaranteed stops, and stops-with-limits. And the various combinations thereof.
Do you know how to apply stop orders effectively from entry, through maintenance, to exit so as to buy low and sell high? Or buy high and sell higher? Do you know how to limit your downside risk by combining stop orders with effective position sizing? What will you do if the market gaps and you get stopped out for no good reason?
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