I have ETrade. How do I do this on ETrade? Let's say I short stock XYZ at $100. I want to put a limit stop loss at $101 ($1 higher). If the stock doesn't hit $101 first, then, when this stock dips downward $5 from the price I shorted it at ($100), then, I want to cover at a limit price at $95. Plus, for every dollar that this stock dips, I'd like the stop loss limit value to move downward $1 also. For example, when the stock moves down to $99, I'd like the new stop loss limit value to be at $100. When the stock moves down to $98, I'd like the new stop loss limit value to be at $99. When the stock moves down to $97.50, I'd like the new stop loss limit value to be at $98.50. So when this stock hit $95, my position will be covered. Then, the stop loss will be canceled automatically. In addition, I have some more questions regarding this: 1) When the stock hit $95, this be a limit cover order. What happens if my order is not all filled, and the stock bounces to $95.25, and never hit $95 again? Will the shares that didn't get executed automatically become a market order? On the other hand: 2) Remember, I have a limit stop loss order at $101. If this stock hit $101, and my stop loss limit executes, but my order is only partially filled? Then, the stock rises higher to $101.25 and then keeps on going up higher? Will the shares that didn't get executed to cover at $101 automatically become a market order?