ok....so in a good scenario.....I would put in a stop order at say...9.10....assuming that is the current bid (or lower) and as the day wheres on, if it keeps going up I keep adjusting the stop up...9.25....9.50....etc.......and if, at the end of the day there is a sell off at 9.50, then I would be likely to come out ahead as opposed to if I just sat out the day and tried to get out at the last minute at a much lower price......right? sort of??You almost have it. You place your buy order first..say at $10.00 or what ever. THEN, you place a sell stop order at $9.20 or what ever you want to set it at. If your stock goes from $10 to $9.20 your sell order is activated. This does not mean that your stock will sell for $9.20. In a fast moveing market, it could sell well below $9.20. $9.20 is the activation price, not the sell price. Once your activation price is hit, your stop order becomes a market order to sell. Or, the stock could gap down the next day to say $8.50. Your stop order will be activated as soon as the market opens and your stock will sell for $8.50 or less.Ok, lets say your stock goes from $10.00 to $11.00. You could cancel the first stop order at $9.20 and set another one for $10.25 or something, this preserving some profits.
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