Short Term Trading, page-26

Can anyone please shed some light on ETrade Pro's stop loss system. It seems an unworkable, and my call to the bank confirmed this.

Their Trailing Stops are activated once they hit either YESTERDAYS HIGH/LOW/CLOSE which is a pre-selection you must make when setting the t. stop, that is, the percentage you set below one of yesterday's figures.

The Trailing Stops do not get activated on the rising then falling sp of today.


Unless I am missing something, including the banks own spokesman, this system seems quite unworkable for capturing today's profits.