Question from a newb

Discussion in 'Trading' started by Aegon, Feb 5, 2010.

  1. Aegon


    Hey. I am practicing on the virtual exchange here:

    And I bought some stock. Now I want to figure out how to make a thing where I sell it if it goes to a certain price (for a profit) but also I sell it if it goes to low (to get rid of it and prevent more loss)...

    But I can't figure out how to set-up such a maneuver. This is more of a technical question about "what buttons to push".

    I can't seem to find information on it anywhere so I am asking here. Odds are I am not using the best terminology...

    I hope someone can help, thanks.

    Let's say I bought 1000$ of this example stock, 1 share, 1000$ per share. I want to sell it if it reaches more than 1100$ per share but I -also- want to get rid of it if it falls below 950$ per share.

    That is the kind of thing I want to set up.

    Could it be just as simple as placing a limit sell for 950$? Or would that cause it to sell if it goes above 950$ too? (Which it already would be because I bought it at 1000$)...I doubt this is the correct way.
  2. joe123


    LOL this is spam

    No one is that stupid

    NO ONE no one :D
  3. Aegon


    This isn't spam. Not everyone can be some kind of genius who encounters no roadblocks to mastering the market.

    I'm just stuck on how to use the online trading interface thing I don't know how to set up trades properly in that way.

    But yea thanks for insulting my intelligence over the internet, anything to make you feel smart huh
  4. Not familair with their program but look for words such as alerts, alarms, stop loss, etc.
  5. NoDoji


    You want a bracketed order, one cancels other (OCO). This allows you to have a stop loss and a limit order. Whichever order is filled first, the other order cancels.