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Post# of 137481
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Tina

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Tina

Re: PremierStocks post# 973

Friday, 11/02/2007 5:00:57 PM

Friday, November 02, 2007 5:00:57 PM

Post# of 137481
I normally only use stops to protect profits going up and not for loss protection.

However, this is what I was advised before in PMs:

Trailing stop - Trailing stops are orders entered with a stop parameter that creates a moving or "trailing" activation price.

When using a trailing stop, you must enter the stop parameter in points or as a percentage. If you use points, the trail amount must be a minimum of one cent ($.01) and no greater than the current bid (if a sell) or ask (if a buy). If you use a percentage, the trail amount must be a whole number between 1 and 99.

When placing a stop order, please keep in mind that activation prices differ for each exchange. Stop orders placed for NYSE securities are activated by the last traded price. Sell stop orders for NASDAQ securities are activated by the bid price and buy stop orders by the ask price. Options are activated by a print or the ask price for sell stops and the bid price for buy stops.

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