[amc6987]

Hey guys, I am new to the market and am messing around with a mock portfolio. I'm trying different techniques and have become confused with covering a short.

My main question is this: is there a way to protect my gains by placing a buy stop order to cover a short at a certain price?

For example I shorted a stock at a price of $20 a share. It has since decreased in value to $15 a share, so if I cover my position now I will have made a gain of $5 per share. However, I want to keep my position, as I believe the price may go down further. On the other hand, I wish to protect my gain of $5 per share.

Thanks.