A couple of newbie questions regarding orders. - Page 3

gijoe9 · #17 (**permalink**) 03-08-06, 02:19 PM

Quote:

Originally Posted by Dee-eight

Thanks, Joe. You know I shorted KMP just for the practice, and it's one of the few bulls in my herd of bears at the moment

I went long for 1500 shares and I am up $1000 today. did the stop limit work for you?

Dee-eight · #18 (**permalink**) 03-09-06, 02:19 AM

Nah, once I set the limit and stop, and saw that I had it right, I watched it for a while then bailed out on a buy to cover market order. Then I went long and it moved up enough to cover my loss from the short position. Thanks again for clarifying the limit and stop for me.

Teresa · #19 (**permalink**) 03-18-06, 01:59 AM

Dee-eight,
I was reading through this and saw that your first question on orders cancelling if you set upper and lower limits and the stop loss triggers. That is really dependent upon the brokers software, but I've used a lot of different platforms and NONE automatically cancel the other orders, I have to manually pull them. HOWEVER if they offer OCO (one cancels the other) option to set the bracket you are good to go.

Good luck and great read through this line of Q&A...still laughing with ya'll on some of it.
Teresa