Unreal how many people got trolled by this guy!!! People should have known this dude was looking to troll just by reading his header, sadly he got many of you to fall for his bait. nothing new, seen it done many times exactly the same way. Sad!
charlie, you will be screaming at your 4 star broker tomorrow. the only stop you will have is at open and it will be at a 50$ plus loss per share! hope you dont have many. i do not follow google but if i recall every time it hits mid 600's it gets wacked.
Just on the off chance Charlie really is as clueless as he's pretending I'll explain the Stop Loss order.
If you put in a Sell Stop order at $625 it becomes a Market Order to sell your stock when the price hits $625 or lower. It's not guaranteed an execution at your stop price. That's just where it gets triggered. You're guaranteed THE NEXT SALE after it's triggered. So if Google opens at $550 you get the very next sale AFTER THAT.
If you entered a Sell Stop Limit then when it's triggered it becomes a regular $625 sell limit. Again, no guarantee of execution. If the stock opens below your Stop Limit price and stays below it, your order will sit at $625 all day and not be executed.
That's how it works, and how it worked for my 24 years on the NYSE trading floor as a specialist. You should also know that your "four star broker" is legally prohibited from buying your stock from you outside the day's trading range, unless you arrange a short/long settlement trade.
A stop loss order will become a market order when trigger. Tomorrow if goog is belongs the price that you set, your order will turn into immediate market order and get sold right the way.
Check the link below which explain how it work.
Hey charlie66harper...1.You are either pulling our legs, or 2.In for the shock surprise of your investing life, tomorrow morning.
Ever hear of the ... Titanic?!? Except in your case...all of the lifeboats are LEAKING !!