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

    Hi,

    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.

    Mitsu
     
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