NEWBIES BOARD

[MrPics]

Stop Loss on Quote
vs
Stop Loss Limit

Etrade changed the stop loss function some time ago.

Stop Loss on Quote is sell the stock to the BID price when the stock price reaches the set price. Bad thing about SLOQ is if there isn't a good BID support you may take a huge loss from what you set your price at as the computer works its way down the BID side selling your stock off.

That's my understanding of SLOQ.

Ok, what about Stop Loss Limit?

Please explain.

I use limits when selling a stock that I want to sell at a certain higher price higher than the current price. My limit would be displayed on the ASK and would be sold when a investor buys on the ASK.

Not certain how limits are used with stop losses.

Thanks