Somebody please explain to me why my understanding of these collars is flawed.... The way I see it, isn't it possible to buy a stock with a very tight stop loss, and if the stock rises just put on a collar and keep adjusting it so it doesn't cap your profit but at the same time prevents losses? It just sounds too good to be true, I'm sure there's something I'm missing. Aside from commission costs. I'm probably gonna feel dumb when someone explains why it can't be done.