Help with downside protect on OTC stock??
This www.freetrade.com (all brokers?) doesn't allow Stop on
OTCBB. Question is if I place a Sell Limit (allowed) below
current price, will MM rush price down and right away close me out?? Or is that NOT an immediate order and he will wait until market price falls that low>
Or must one only have Sell Limit ABOVE current price hoping price rises up into that sell point? Seems no downside protection unless watch all the time & close out with Market order or a Sell Limit that immediately gets closed out?
Their CService is not too helpful.
Thanks a whole bunch!
A sell STOP is placed at a price below the current bid to protect your order on the down side. There is more detailed information on the Order Help page. You can get to that page by going to the order ticket and clicking on the Help function.
Then why do I get this?
Error - Stop, Stop-limit, and Sell Short orders are not accepted when placing an order to Sell OTC Bulletin Board securities.
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This may be a simple question but.
If I have a Long position and want to set a downside
Stop in an OTC stock, can that be done? Or can there only be a Sell Limit ABOVE current price hoping price rises up into that for a Sell? But seems no downside protection....how to do that?
What I need to know is if I place Sell Lomit BELOW
current price, does that tell MM to drop price down to that and Sell me out right NOW?? Or won't that happen unless/until the current price falls to that point??
I know Sell OTC is only Market or Limit. Just need to know how to place Limit Sell below Price and not be closed out -- since no Stop allowed?
Thank you.
Pennies not a zero sum game as much as some zero game.
