Hey. I am practicing on the virtual exchange here: http://vse.marketwatch.com.
And I bought some stock. Now I want to figure out how to make a thing where I sell it if it goes to a certain price (for a profit) but also I sell it if it goes to low (to get rid of it and prevent more loss)...
But I can't figure out how to set-up such a maneuver. This is more of a technical question about "what buttons to push".
I can't seem to find information on it anywhere so I am asking here. Odds are I am not using the best terminology...
I hope someone can help, thanks.
Let's say I bought 1000$ of this example stock, 1 share, 1000$ per share. I want to sell it if it reaches more than 1100$ per share but I -also- want to get rid of it if it falls below 950$ per share.
That is the kind of thing I want to set up.
Could it be just as simple as placing a limit sell for 950$? Or would that cause it to sell if it goes above 950$ too? (Which it already would be because I bought it at 1000$)...I doubt this is the correct way.
And I bought some stock. Now I want to figure out how to make a thing where I sell it if it goes to a certain price (for a profit) but also I sell it if it goes to low (to get rid of it and prevent more loss)...
But I can't figure out how to set-up such a maneuver. This is more of a technical question about "what buttons to push".
I can't seem to find information on it anywhere so I am asking here. Odds are I am not using the best terminology...
I hope someone can help, thanks.
Let's say I bought 1000$ of this example stock, 1 share, 1000$ per share. I want to sell it if it reaches more than 1100$ per share but I -also- want to get rid of it if it falls below 950$ per share.
That is the kind of thing I want to set up.
Could it be just as simple as placing a limit sell for 950$? Or would that cause it to sell if it goes above 950$ too? (Which it already would be because I bought it at 1000$)...I doubt this is the correct way.
