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Zecco.com » General Investing » New Investors » Educate me on SELL STOP LIMIT order...
Last post 05-16-2008, 9:30 PM by MichaelAT. 1 replies.
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  •  05-16-2008, 5:14 PM 29244

    Educate me on SELL STOP LIMIT orders please

    Reply Quote

    I bought a stock at $82.44.

     5 minutes before closing today (friday), the stock went to $81. Google Finance is reporting that the After hours is $81.98.

     I want to place a SELL order IF:

    Current stock price is $82.20 then sell the stock and PROTECT the profits.

     Would you mind telling me how I can set it up? What is the STOP? is it the current price the stock needs to reach to activate the SELL order?

  •  05-16-2008, 9:30 PM 29254 in reply to 29244

    Re: Educate me on SELL STOP LIMIT orders please

    Reply Quote
    To do this exactly as stated, you would place a Stop Limit of $82.20 the limit says "do not sell for less".

    Another way to protect your profit would be a Trailing stop. But in order to use it the security has to go above (by the same amount of your trailing stop) whatever you want to sell at and set your trailing stop for. For instance: You want to sell @ $82.20 and you have a TS of a nickle, the security has to rise to $82.25 then back off a nickle to trigger the sell @ $82.20. Since you set a trailing stop of a nickle, the stop will follow it up the chart and when it backs off a nickle a sell will trigger, regardless of the price at that point. This means that it might rise to $83.00 before backing off far enough to sell, which at that point would be $82.95

    Now, to make things even more complicated, I think (Not real sure, haven't done this....yet) you might be able to set a trailing stop limit. Meaning if the sell gets triggered because it hit the trailing stop, you want to place a limit on the price..."Don't sell if it drops below $82.20." This, like a Stop Limit, can make you vulnerable to falling prices and profit loss. If you tell them not to sell under your price, it will not sell and you might be hanging on to a falling security.

    Hope it helps
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