LIMIT SELL issue, help!

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?

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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?


My initial guess is that your stop price was met and then you had $7.13 as your limit price which means that sell limit order goes into the exchange saying don’t fill me at any worse than $7.13 and so you got filled at $8.13 - if you can’t remember what price you put as the stop price then maybe contact support and see if they can advise exactly what happened

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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.

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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

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Great, thank you Phil!

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