Question: Limit order or Stop order?

Discussion in 'Learn how to trade or invest by asking questions' started by Mitsu Fisher, Jun 5, 2017.

  1. Mitsu Fisher

    Mitsu Fisher New Member


    I just started using a virtual paper trading platform to begin learning how to trade stocks.

    I bought 1 share of QQQ.

    My order was filled at the market price.

    All good so far.

    Now I want to place a sell order so that if the stock goes down by say $2.00 per share, it's sold automatically. I think this is called a "stop loss" order, but I'm not sure.

    Here's where I got stuck.

    My paper trader offers me only a "limit" order or a "stop" order when I try to place my sell order.

    My question is, should use a limit order or a stop order to achieve my objective?

    Thanks in advance for any help you may be able to provide.


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