Oct 23 2019, 09:07 AM
QUOTE(Emily Ratajkowski @ Oct 23 2019, 08:01 AM)
Sometimes you're wrong. So you put a stop loss. When you're wrong and you want to get out as fast as you can, why would you bother bargaining with the market?
If you insist on bargaining for a better price you can use a stop-limit order. Which means, when market reaches that price, execute at limit.
But this carries a risk that you might not be able to get a fill. The order is then cancelled and you may be stuck naked.
Example:
If you put a sell stop above your entry you get instant filled at market.
Sell limit above your entry is a take profit order.
1.0000 You buy here
Sell stop below your entry is a stop loss order.
If you put a sell limit below your entry you get instant filled at best price (usually at market)
If you use a sell stop-limit, the broker will try to execute your sell at the best price set by you. For example if you set your sell stop-limit at 0.9000, the broker will try to fill you at 0.9000 or higher. But if market gaps down to 0.8000, you trigger your stop order, but the limit order won't fill (0.8 is worse than your set limit of 0.9)
even at market could have some slippage...but still better than strandedIf you insist on bargaining for a better price you can use a stop-limit order. Which means, when market reaches that price, execute at limit.
But this carries a risk that you might not be able to get a fill. The order is then cancelled and you may be stuck naked.
Example:
If you put a sell stop above your entry you get instant filled at market.
Sell limit above your entry is a take profit order.
1.0000 You buy here
Sell stop below your entry is a stop loss order.
If you put a sell limit below your entry you get instant filled at best price (usually at market)
If you use a sell stop-limit, the broker will try to execute your sell at the best price set by you. For example if you set your sell stop-limit at 0.9000, the broker will try to fill you at 0.9000 or higher. But if market gaps down to 0.8000, you trigger your stop order, but the limit order won't fill (0.8 is worse than your set limit of 0.9)
Quote
its just something i don't want to touch...
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