bobo123 Regular  Posts: 64 Joined: 12/22/2003 Location: Franklin,WI  User Profile | Barry, thank you for responding. You are right,we did conclude that I should be able to do a partial closeout of a trade using the interface when we talked recently. However, it did not work.Let me explain with numbers. I funded my foliofn account with $20K. Right now I am just checking things out; using the foliofn free Watchlist function is helpful, but it does not make trades with the window, and I felt that I should make sure I really understand the foliofn interface well before I commit to this system. (I am still leery with the no-stop policy with foliofn, but the concept has real merit for longer term trading of fundamentally strong stocks. However I want to use my own picks to "stock" this portfolio, so I will be adding to it piecemeal.) I went long on 2 stocks; Stock A @ 39.60, 10+ shr ($400) and Stock B @ 28.63, 20.95 shrs ($600), 2 days ago. So the total stake is about $1000 of the $20K invested. To test partial-closeout ability, I decided to sell roughly half of Stock B. As I understand this process, the %Target you would use is based upon the TOTAL account size ($20,000); thus I should shoot for 1/2 of $600 = $300.That calls for a %Target=300/20000= 1.5%. The allowed minimum is 1%, so it should work. So I set it for 1%, went back to my Focus List, clicked in the Trade column, and the "L" changes to a "C" and the highlight goes to a light blue,just as I understand it should do. I went back to the Interface, clicked the Preview Order button, the foliofn website preview pops up as it should. However, it shows a TOTAL position closeout, not a partial.I backed out by clicking the"C" off in the Focus List. The good news is that this morning I decided to go ahead and place the partial closeout from the folio website directly. It was filled at the 11AM window correctly, and when I launched OT after that, opened the folio interface, updated it, it did indeed reflect the partial closeout. I have no problem doing partial closeouts from the folio website directly; indeed the granularity offered in the folio interface is not really fine enough anyway. It offers 1% minimum ( probably ok) but only whole-number increments ( should permit finer precision) If I am incorrect in my understanding of how this is supposed to work, please advise. Overall, I think this whole concept is great. Thanks, Bob P.S. Barry, what does "include signature in this post" refer to? This appears below every post... | |
