OViCoPilot – Fills and Spills

The OViCoPilot is finding trades, and hopefully it will continue the impressive stats for 2013 and the last five years.  For me this is a long term thing and the CoPilot is ultimately built for my own comfort level.  

This email concerns the fact that several of us are getting different fills for the same trade.  Our fills will vary due to factors such as different account types, different brokers and different price behaviour at the open.  

In our backtesting, where the stock had gapped up at the open we based our recorded entries on the open price on the basis of a buy stop order.  This is a conservative approach, and one we will continue with, despite the fact that several of you actually got a much better fill than me today on CMCSA!  

CMCSA had an entry of $44.79.  However it opened at $45.34.  My fill was at $45.29, which is horrible (though not as bad as how it will be recorded in the Working Trades, where we’ll record it at $45.34), while others got filled at $44.83, which is far friendlier. 

By contrast I had a great fill on CTSH the other day, while others weren’t so lucky.  

Ultimately this is trading.  Most of the time our fills will be fine, but once in a while you may get a stinker.  If you’re concerned about a fill, call your broker and ask them to talk you through it.  

If you’re concerned about how you’re getting filled in general – especially on gapping stocks, you can use a buy-stop-limit order to ensure you get filled at your required price.  The risk is that you may not get filled at all, and may miss out on a trade.  

I hope this helps.  We’ll go through this in our next webinar which I’ll hold when I’m back from New York and Chicago in early August.  

All the best 

Guy  

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