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Don't Rely On Sell Limits In Volatility
- Avoid using sell limit orders when trading large size in volatile markets because you may not get fully filled.
- Use market exits or protective stops a few points below the market to ensure execution and reduce slippage.
Price Targets Are Often Emotional
- Being emotionally attached to an exact price target harms trading decisions more than the few points you're trying to save.
- Financially there's little difference between getting 23 versus 25 points, so flexibility beats precision fixation.
Personal Losses From Slippage
- The host shares he experienced significant slippage and skid from limit orders when trading large size.
- He claims if listeners had his losses they'd be very wealthy, illustrating how common and costly slippage can be.