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Zecco.com » General Investing » New Investors » Setting a limit price to sell and a...
Last post 03-26-2008, 5:30 PM by Strych9. 3 replies.
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  •  03-26-2008, 9:01 AM 25738

    Setting a limit price to sell and also a stop loss at the same time?

    Reply Quote
    I yesterday on another site (I am moving here)
    Knew the stop loss I wanted to set, so made a stop loss order for the loss limit on my stock
    Also knew the price I was looking to hit to sell the shares for a profit and wanted to put that order in.

    It would not let me establish a limit sell order for the higher price with the stop loss in place.

    Can I not have two open orders for the same stock?

    Someone enlighten me please...
    Noob here.

  •  03-26-2008, 9:13 AM 25741 in reply to 25738

    Re: Setting a limit price to sell and also a stop loss at the same time?

    Reply Quote
    No, Zecco does not allow two open orders for the same stock, even if they are logical and would not contradict each other.

  •  03-26-2008, 12:57 PM 25766 in reply to 25741

    Re: Setting a limit price to sell and also a stop loss at the same time?

    Reply Quote

    Wonder if you had a margin account?

    Would they let you then?

    Hmm... just seems like I would want to do this...=

    Is there any way to accomplish this sort of thing?

    Establish the sell price and a stop loss at the same time?

    Please anyone thoughts?

    The Bowler

  •  03-26-2008, 5:30 PM 25788 in reply to 25766

    Re: Setting a limit price to sell and also a stop loss at the same time?

    Reply Quote
    No, no brokerage allows this.  You cannot have sell orders outstanding for stock you don't own because in a volatile market they could both be triggered and it would be an unregistered short sale.  If all trading was computerized it would be more manageable but it isn't allowed so long as we have floor traders.
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