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chk999 (99.98)

The 20 Minute Rule Is Really Annoying

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September 19, 2008 – Comments (9)

The 20 minute delay between deciding to open or close a pick and it actually happening is getting to be really annoying.

I recently closed an underperform pick that was at about +7. In the 20 minutes the market moved and it actually closed at -7. I would never have closed it in the negative, because that damages your accuracy. 

There are a lot of real time stock quotes showing up now (even Yahoo has them) and it is time to revisit the decision to have the 20 minute delay. Even if we keep the delay, could we at least show what the closed score would be? It is really chapping my hide to open or close picks and then hope. If I knew what the closed score would be and could cancel the close immediately, that would be good enough.

Strangely enough, the 7 day rule doesn't bother me, it usually takes longer than that for me theses to play out.

Chris - less enchanted with CAPS that usual the last few days

9 Comments – Post Your Own

#1) On September 19, 2008 at 10:41 AM, LordZ wrote:

Often caps has the score wrong, so you had better check before you decide to close something out, sometimes the end score is the correct score, but caps wasn't updated so don't go by what caps says it is.

Welcome to the club CHK

I just hate when you time it right, and caps takes hours to close something out.

It took once 3 hours for caps to close out a stock pick for me, just imagine the score change.

 

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#2) On September 19, 2008 at 10:54 AM, AntiRonChapmanJr (99.86) wrote:

The rule is silly, but let's be honest. You "play the game" by repeatedly opening and closing garbage to get higher accuracy.  That is going to get you burned eventually.

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#3) On September 19, 2008 at 11:02 AM, columbia1 wrote:

One way I found is to let the markets and caps settle down for a couple of hours after the opening bell, it seems caps is further than 20 minutes behind calculating scores in those hours :)

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#4) On September 19, 2008 at 11:06 AM, carstenjansing (92.58) wrote:

we do not wont to be caps a place for short term daytraders, so let the rule in, even prolong it to 1 hour or so....

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#5) On September 19, 2008 at 11:45 AM, fooluser17 (69.22) wrote:

Why don't you want caps to be a place for short term traders?  If someone has the same accuracy and can buy and sell stock on a real market and make money, why should that person's skill in knowing the exact moment within a 3-4 day span to buy and sell a stock not be reflected on caps?  I'm really sick of people who don't buy a stock and hold on to it for 5 years being demonized as "day traders."  Just because someone is capable of turning stocks over at a profit without having to sit around and wait for an inevitable rise (and therefore has more skill) is no reason to consider yourself a better trader.

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#6) On September 19, 2008 at 11:56 AM, tomnsung (87.14) wrote:

Let's lobby for real-time pricing for Caps---with the availability of real-time quotes, that shouldn't be an unfair request.  btw, I've found that Caps orders are usually filled at a price <20 minutes away from real-time.   If you get a horrible fill, study the one-minute charts and file an appeal for a pricing change.   Tom

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#7) On September 22, 2008 at 5:23 PM, SidBord (< 20) wrote:

I agree . . . why would you care if I'm a short term trader?    In the real world I do very well on my trades, and I'm not apologizing to anyone.      The CAPs feature that drives me cookieputz is keeping a record of my bad decisions and using those bad decisions to give me a rating.   In the real world that doesn't happen,   When I decide to "END" ownership of a stock, then stop rating me on it.   Rate me only on what I've got now.    

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#8) On September 22, 2008 at 7:30 PM, pjani06 (30.07) wrote:

Chk,

Thanks for the rant but do you think it may help gaming on points by short term traders if there was no 20 min rule?

Anyways, I've enjoyed following you here on CAPs and today, I was brought out of apathy to post my first blog post - hitting on the financial system crisis.  check it, think about it, & discuss/circulate the ideas.

Here's the link:

http://caps.fool.com/Blogs/ViewPost.aspx?bpid=89802&t=01005302674505139157

Thanks.  Report this comment
#9) On September 24, 2008 at 8:40 PM, pjani06 (30.07) wrote:

Hey chk999,

Thanks for the support on my first blog entry on Monday.  Looks like news media is channeling attention this way; please provide some thoughts on a post I just put up minutes ago here: The bailout runs into a populist backlash - Los Angeles Times

provide some discussion / agree/disagree with my points if you care to, itd be much appreciated. 

Thanks. Report this comment

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