UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: stevenjklein Big funky green star, 20000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2887  
Subject: Re: My order was executed after it expired Date: 5/25/2012 11:41 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
What price did you get it at and are you happy with it…

I got it at $39, and no, I'm not happy with it. I readily admit that I would have lost money anyway, but not as much.

I honestly don't think FB is worth much more than $10/share, but given how over-hyped it was, I expected it to jump up.

My "IPO strategy" is to buy over-hyped IPOs at the market open, and then issue a trailing stop limit order for 10%.

I did this with Linked in. By mid-day it jumped way up, then started to fall. When it fell 10% of that day's high, it sold and I got a very nice return for a 1-day investment.

But I never entered the stop-loss order because I never knew (until yesterday) that my buy order had gone through. If I had, my shares would have sold when the price fell to $35.10 ($39 minus 10%).

Since it's now around $32, my "excess loss" is about $300.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next

Announcements

Scottrade's New Trading Platform
A message from Scottrade's Kevin Dodson about upcoming changes.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement