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just wanted to say that today was an easier day to take the plunge and place the stop/limit order on my long positions, it sure helps to know I have protective stops on them. I plan to adjust the stops tomorrow morning if necessary. I also took some profits off the table by selling 60% of my...

got ya! tks

thanks for the clarification and advice, it was a very helpful! I am going to try both methods on a few trades and see how Datek/Ameritrade handles my fills. Will try your method and use stop limits to enter breakout trades and stop orders to exit.

whether I should use a stop limit as my method of exit from this long as opposed to a put (would be a covered put since I am long on the stock). Also can you clarify the difference between stop limit order and stop order from the perspective of risk management of my long position. tks :)

Hi all, I just joined ET. This chat forum has been very informative for me, having recently decided to trade more actively and make it my second profession. My trading experience has been limited to going long on stocks during uptrend unfortunately. I am finding it so hard to take the plunge...