Hi all,
First of all… I hate this limit sell/stop and all of that.
Why not STop loss and take profit?
So I tried using a limit sell to use it as a stop loss.
I’ve put a limit sell at $7.43 and T212 sold my shares at $8.13. Quite a difference. The price never got to $7.43. The stock obviously went up after haha.
What I did wrong? Why T212 sold my shares at $8.13. I’m really annoyed.
Can I please have some help?
See image:
Thanks,
Gaston
Wait… you’re angry that T212 sold your shares for a higher price than you expected?
What’s the point of managing a trade if T212 is gonna sold it when they want?
That was my stop loss! It triggered my stop loss somehow and I don’t know how
Ah ok sorry I understand what you mean now
Did you use stop or stop limit order? I am guessing stop limit order, if so, what price did you set as the stop price?
You placed a LIMIT order, which means you gave instructions to sell you shares for a price of at least $7.43 (i.e. $7.43 or better), and because the price was at that time better than $7.43, it got executed.
You should have used a STOP order (which triggers a market sell at a price you decide below the current price) or STOP LIMIT order (which triggers a sell at the STOP price but not lower than the LIMIT price).
LIMIT for higher price, STOP for lower.
Thank you so much @Alien and @ryan9921.
I’m so annoyed with myself now haha. Thanks, guys.
So…
SELL LIMIT = take profits
SELL STOP = stop loss
STOP LIMIT=to activate a sell stop with a minimum price that I may get or not
Please tell me that I finally got it right.
Yes
Market sell (give me the best going)
Limit sell (give me this or better, or don’t sell)
Stop sell (creates a market sell at this trigger point)
Stop limit (create a limit sell at this trigger point)
Think of stop as a way of creating automatic orders without having to watch it 24/7
Great, thank you Phil!
