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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (19172)	8/10/1999 8:21:00 AM
From: Dave Shares	Respond to of 43080

Stop orders My experience with stop orders is a little different than what is described in that article. Every brokerage I deal with (4 different ones) triggers a stop order when the stock TRADES AT the stop price (or below in the case of a sell, above in the case of a buy), the bid and ask have nothing to do with triggering the stop. If I set a sell stop at 15, and the stock trades at 15, my stop order becomes a market order. If I'm lucky, I get the sell at 15 assuming there are bidders still at 15. Otherwise, I get a lower price. The stock does NOT have to go below 15 for the stop to trigger. Also, a sell stop without a limit will always be filled, but the price of the fill may very well be far below the stop price. Just ask anyone who had a stop on ONSL the Monday after last Thanksgiving (fortunately, I was not one of them). David