Originally Posted by themav37
i'm having the same problem here....but now its asking me limit price and stop price.........what do i put?
A sell stop limit order combines elements of both the stop order and the limit order in order to sell a stock.
the STOP price: the price at which the order turns into a limit sell order.
the LIMIT price: the lowest price that you are comfortable selling at.
Ex. Company ABC is trading at $50. You want to set a sell stop limit order, with a STOP at $45 and a LIMIT at $44. Once the price reaches $45 or below, your order becomes a limit order to sell. As long as the price remains between $44 and $45, you're limit order can be executed. If the stock gaps below $44, your order will NOT be executed.
You might be wondering why you can't place a trailing stop loss for penny stocks, but that is simply because some brokers do not allow that. Lemme know if you have other questions!