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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: MMK who wrote (3937)1/12/1999 11:18:00 AM
From: BarbaraT  Read Replies (1) | Respond to of 56535
 
No ... If you put in a limit order to sell, it will sell at the current price with a limit at your price. For example, if a stock is at 17 and you don't want to sell it for less than 16, so you put a "limit" in at 16, it will go off at the current price 17. If you want to protect your self, then put in a "stop" at 16, it will get triggered only if price hits 16. You can't place stop limits on OTC, but you can in most online brokers place "stops".



To: MMK who wrote (3937)1/12/1999 11:52:00 AM
From: Trader J  Read Replies (1) | Respond to of 56535
 
MMK - I tried to place a sell stop and was prevented due to Schwab's new volatile stock restrictions that disallow that. So, I was safe and went ahead and limit sold it.

Basically, if Schwab does not let you sell stop an issue, I go ahead and select "sell" and then select "limit" where I put in my price. However, this is not a "stop". It will immediately sell your security as long as the price is above your limit.
Hope this helps.

TJ


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