How often do you use stop or stop limit orders? (margin, trading)

[snowmountains]

I've never used it. Wonder how often people do it, whether it's selling or buying.

[Harpaint]

No. I usually own only a dozen or so equities at once and do no day trading. So I don't need any automatic trading.

[snowmountains]

Hmm, it doesn't have to be day trading when stop orders are used

[lottamoxie]

When I buy and sell ETFs I do use limit orders and stop loss orders. That way I can go about my business without having to watch the market.

[lewdog_5]

I do once I’m a bit above my floor for profit gains. This way if the stock dips, I’m set to still profit by whatever margin I’ve set.

Recently did this on X Steel stock before it took its recent hit. Locked in 90% gain with a stop loss order and it’s currently 10% down from my selling point.

[Harpaint]

Originally Posted by snowmountains

Hmm, it doesn't have to be day trading when stop orders are used

Oh I know. But lots of day traders use it.

[bmw335xi]

When I make a trade, I will use them right after I started my position.

Example, let’s say XYZ is trading down tomorrow and then it finds a floor and bounces off of it. I would buy XYZ after the bounce and use a stop loss order a little below the price at which it bounced. I bought it with the impression the bounce was the floor, but if it were to break through that “floor” then I know that wasn’t the true floor or support level.

[oneslip]

Can't remember the last time I used a market order...

[rjm1cc]

Almost never but almost always use limit orders.

[Westcoasters]

Rarely, but I almost always use limit orders.