Q1 - When I try to set a Stop Loss it does not work - is this because I only have very small cash in the trade? In other words can you set a stop loss if you don’t own a complete share?
Q2 - What is a Stop Loss and is there someone who can put it in really simple baby terms as if I was properly properly stupid. I have read the forum here and a chapter in my book twice and been on investopedia and its still not simple enough.
My understanding so far.
A Stop Loss - Is put in place to potentially STOP you from loosing a ton of money. It means when the price reaches that - you have lost enough sir and you’re out - the stock will be sold.
A Stop Limit Order - Is when you LIMIT your profits - i.e. I buy Bobs Cakes at £1.00 I set a Stop Loss at 70p if I want but and or can set a Limit Order to £1.90 - this means when Bobs Cakes reaches £1.90 my shares are automatically sold.
Q3 So What is a LIMIT
If it is that easy - why does the APP seem to complicate things. In that.:
“Set a price below the current price that converts your order to a market order”
“Set a price below the current price that converts your order to a Limit Order”
“Then set the minimum price you are willing to get for a share”
“Set the minimum price you are willing to get per share”
To make it easy for those with brains copy and paste.
1 Limit Means:
Stop Limit Means.