I've been trading stocks casually several years - mostly longs with occasional shorts. I had a short sale cancelled on me today because of bad stop price. I suddenly realized that I do not fully understand how limits and stops apply to short sells. I know what they mean on long trades and use them all the time. But on a short sell, if I specify a limit, does that mean I don't want to trade over that amount (as in a long) or under that amount? I always assumed things worked just the opposite on shorts so it would mean I don't want to trade under the specified limit on a short, and a stop market would be set over the current trade price but that didn't work for me today. Someone straighten me out on the details. I've been looking through my books and online and, although longs with stops and limits are commonly explained, shorts are not. Thanks.
=============== You may mean ''not filled'' on limit price .[playing around with it] Due to speed/downtrends, if get a non fill on limit price[stock slidesor uptrends faster than figured], use market order then. Can goof around with a generous limit order, sound like you didnt & mised it.