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No. of Recommendations: 3
The stop loss order is one of the worst ideas ever in the history of finance. It's also a contradiction of what this board is about.

Why are you selling just because the stock price declines? It's likely an even better value at a lower price. You should be selling because your stock has risen to your estimate of intrinsic value or because you see the fundamentals deteriorating. If you can't handle a measly 10% correction, you shouldn't be in stocks. Even Berkshire Hathaway stock (the REAL blue chip) gets corrections.
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