Stop Order Didn't Work on ETrade

Hi,

I tried to place a Buy Stop Order for AVO with the stop at 18.00 on ETrade. Its closing price is 18.65. Does anyone know why this didn't work?

Thanks,
Joe

 

If AVO is currently at 18.65, and you wish to buy at 18.00, then just submit a limit buy order at 18.00, not a stop order.

 

I want to buy it at its current price (18.65) and automatically stop out if it ever gets to 18.00. I thought that I am supposed to use a stop order to do that with a setpoint of 18.00. Is that right?

 

Yes, but you need a stop limit order to sell at 18.00 for that.

http://www.nyse.com/glossary/glossarylinks.html?s=1042235995792

Whether you can make one order conditional on the other on ETrade is another thing.

 

So in other words I can only set the stop after I buy the stock?

 

1st, put in your order to buy at market OR limit.

THEN, after your order is filled, put in a sell stop order at 18 IF the price is trading above that.

 

thanks!!!

you guys are great

 

Anything for a fellow SNL member. The j is for Jimmy, right?

Edit : Just saw from your first post that it's Joe You're still welcome, though

 

What is IB? Is the consensus that ETrade sucks? I need a place to trade where I can place Stop-Loss's on both Nasdaq's and NYSE stocks. What is everyone's opinion on the best place to trade?