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Strategies & Market Trends : The Market Taught Me That......
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To: Michael who wrote (124)11/13/1997 5:11:00 AM
From: Dale Baker  Read Replies (2) of 151
 
One solution to getting burned on stops is a stop-limit order. It will only execute at the designated price or better. If your stock drops past your stop-limit price at the open, your order won't trigger until it comes back. The danger is that it never comes back and you don't get stopped out as intended.

I forgot this lesson myself and lost 1/4 point on FTIC yesterday, getting stopped at 12 1/2 when my stop order was at 12 3/4. FTIC closed at 12 7/8 so a stop-limit would have saved me money.

Good luck.
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