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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Ken Wolff who wrote (1017)5/10/1998 2:48:00 AM
From: Gerard  Read Replies (2) of 2120
 
Question for Ken or Steve.

Say I am holding 200 shares bought for $35. Now I am putting in a limit sell of the 200 shares for say $38. Also to protect myself I am putting in a stop loss limit of say $34. (I don't have acces to a computer every minute of the day-- I use Datek as the broker)
Now, if during the day the stock price declines below 34. and Datek sells my 200 shares what happens if later during the day the stock price goes up say just above $38., Will Datek now SELL 200 shares for me and I am short 200 shares of that stock or does the first action(the stop loss limit) cancel my later action,(the limit sell @38).
None of the above has happend to me yet but it is better to know before hand.

Regard,

Gerard
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