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If you put a GTC $3 stop loss order on a stock that is $58.00 (wanting to sell it if it drops to $55), will it get sold if the stock experiences an immediate drop to $54? Or does that stop loss order mean nothing?
I have owned some stocks where the price cratered in one fell swoop - and want to figure out how to limit potential future losses like the example above. I think I know the answer (SOOL) - but want to ask... tks
a stop loss can be dangerous . it is a point where below you get sold out . look at the flash crashes we have . you get sold out where the next price level is which can be far below your figure .
A sell limit order will only execute at your entered price or higher. That protects in a crash but remember the price can be a penny less and you will not execute and ride things down
so no protection for a flash crash scenario with a stop loss... kind of what I figured.
Stop loss turns into a market order whenever the bid drops to your order's price or lower. So if some bad news comes out over night and the stock gaps down, your market sell gets entered at the open and most likely will execute at the market price (assuming good enough volume).
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