issues with stop loss

[nathaniel blaiklock 0]

Hey guys,

I've been trading on the sim for a few days now and still haven't figured out how to set up a stop loss. I watched Carlos' video ' Montage, Order types and Order Processing' where he clicks on 'stop' as his order type and is then asked what stop type he would like (trailing, range etc.). When I click STOP on my montage that window (stop type) never appears. I am wondering if anyone else has this issue? Also, if someone could let me know if I am way off the mark with how to set up a stop loss that would be much appreciated.

Nathaniel

[mhileman 21]

Check your Montage to make sure it looks like the following at the bottom:

Depending on how you want to setup your stop loss depends on which one of the Stop Types you will use.

Market would be the better set if you want to dump all or some of your shares out close to or at the price you set for the Trigger Price. 

Limit is ok but can get blown by if you are Long and the stock is starting to fall down.  The price could skip you Trigger Price.

Trailing will follow the price up and will get you out based on how much the price drops from the high based on your Trigger Amount.

Range you set the Low Price and the High Price and the Trigger is executed based on the first one that gets hit. 

 

 

Edited May 12, 2020 by mhileman

[nathaniel blaiklock 0]

yea for me when I click on STOP that bottom window doesn't appear asking me what stop type I would like. The trigger price doesn't appear either

[mhileman 21]

Snap a pic of your montage with the account blanked out.

[nathaniel blaiklock 0]

I am a bit of an idiot when it comes to tech I'm not really sure how to snap a screenshot with my computer

 

[mhileman 21]

Actually what you need to do is Right click on the bottom section of the Montage and click Style then click on Stop Order and set it to Default. 

[nathaniel blaiklock 0]

ahhh there it is! thank you so much you have no idea how frustrating this has been! I owe you a cold one!

 

[mhileman 21]

 

You're welcome.  Glad to be of assistance. 

[nathaniel blaiklock 0]

Another quick question here with regards to my stop loss for anyone that may be of assistance. If I do a stop order with the stop type being market i am given the option of a trigger price but cannot enter a buying or short price. Will my order just get filled the same way a market order is filled (at the best price possible), with my stop out occurring wherever I set my trigger price?

Thanks,

Nathaniel