Stop Market vs Stop Limit

[Bruins4Life]

Question for you more knowledgable types.

I am thinking the Oil market dips again tmrw. I have some OXY that I bought for $9.52 last week. It's currently sitting at $13.00

I would like to sell if it dips to $12.50.

Do I put in a Stop Market, Stop Limit, Tailing Stop Market, Trailing Stop Limit?
I'm thinking Stop Market but want to be sure.
Thanks.

 

[festeringZit]

Question for you more knowledgable types.

I am thinking the Oil market dips again tmrw. I have some OXY that I bought for $9.52 last week. It's currently sitting at $13.00

I would like to sell if it dips to $12.50.

Do I put in a Stop Market, Stop Limit, Tailing Stop Market, Trailing Stop Limit?
I'm thinking Stop Market but want to be sure.
Thanks.

Stop limit requires two prices to be set. Trailing orders require to you to set a trailing amount.

Yes, I think you want "Stop Market." But keep in mind that it might not sell exactly at 12.50. A Stop Market will trigger once the stock hits 12.50, but
will not necessarily execute exactly at that price, depending on what the market does between the time the trigger hits, and when the order is executed.
Chances are it will be very close to 12.50 on a high volume stock. With a stock that has low volume, that gap has a high probability of being larger
(the price gap between the trigger price, and the price that the market order goes through at).

The "market" order will guarantee that your transaction will happen, it won't guarantee the price. If you want a guaranteed price at $12.50, you
need to set a stop limit, where your stop price and limit price are at $12.50. Though keep in mind it's possible in that scenario that it's possible
for the stock to trigger a limit order, and then the order never goes through, because the stock drops too fast.

 

[Bruins4Life]

Thanks for clarifying. I'm on the right track.

I was thinking $12.50 because i want the order filled before it falls to $12.

 

[bodyforlife]

I would do a trailing stop. If you're at $13 right now and use the percentage on a trailing stop, you can continue to benefit if the stock keeps going in your favor, but protect yourself if it doesn't. You could set it for 3.5% and if it started dropping from the start of the day, it would trigger at approximately 12.54 (13 x .035 = 45.5 cents). If the price goes up, the trailing stop resets and triggers at 3.5% of the new price.

P.S. Adding because I just saw your new post. For $12, you could set the trailing stop in the 7.5% range

 

[Bruins4Life]

Thanks body. i'm trying to keep it simple for now as I'm pretty new to stocks. Just want to make sure I lock in some profit.
FWIW I hope I'm wrong about oil. I really like this particular stock in the long run. But if i can grab a 30% profit now, I will rebuy later if it falls below 10.

 

[TheFalls]

You could be a little bit hosed no matter what now if this opec meeting on Monday is indeed cancelled. Good chance it gaps down 10%+
It’s really hard to hold anything over the weekend now

Although I’m seeing that we and Canada may put tariffs on Saudi oil now.

 

[MrBetitall]

if you have to ask trading 101 questions like that I don't think you should be in the market. Unless by "OXY at $13.00" you mean you own like 1 share, in which case go for it

 

[CaptainLee]

Trailing stop $ limit. Set it at $1 after the open and it will walk up setting new stop prices for you.

 

[NorthernStar]

You could be a little bit hosed no matter what now if this opec meeting on Monday is indeed cancelled. Good chance it gaps down 10%+
It’s really hard to hold anything over the weekend now

Although I’m seeing that we and Canada may put tariffs on Saudi oil now.

Nothing like free market capitalism....if you cant beat them.....put tariffs on their products.

I think a tariff on oil is not a good plan. Let the price of gas fall below a buck a gallon. US companies will just file bankruptcy and someone will buy them at a discount and then compete without a tariff. Bankers take the haircut not the public. Takes something like 20 jobs to install a rig and 1 to maintain it.

We have bigger problems than protecting oil and cruise lines right now. In fact low gas costs would actually be a help to the economy. I will be shocked if Russia and Saudi comes to some sort of agreement that is large enough to prop oil prices. Demand is gong to be low so the cuts would need to be drastic to match demand

 

[Bruins4Life]

if you have to ask trading 101 questions like that I don't think you should be in the market. Unless by "OXY at $13.00" you mean you own like 1 share, in which case go for it

If only I needed advice from a ghost.

 

[Ricboff]

$9.52? gee, you practically got it at the fuckin' dead bottom!! how the fuck did yuo do that? haha

if it can break $14 then off to test the recent high of $15.25; it either is rejected here or breaks , if it breaks it has some room to run! Last week it tested the previous lows and HELD (despite oil at $19.50 whcih was lower than in mid-march!). $9.80-$10 is fairly strong, goign to take some nasty news to break that support

energy stocks r beign tossed like a rag doll as oil is all over the map. OIL opened down 10% but it aint unravelling, in fact fighting up. Futures are strong. Let's see if the energy sector can hang on tomorrow.

OIL needs to hold $25 ish

OPEC re-tries Thursday I beleive, this sector is very speculative right now

 

[michael777]

if you have to ask trading 101 questions like that I don't think you should be in the market. Unless by "OXY at $13.00" you mean you own like 1 share, in which case go for it

You wish you had money to invest in the market you Leftist moron!

 

[Ricboff]

forgot to post the chart,

OXY

6 mth daily

OIL FIGHTING

 

[Ricboff]

oil has gone from dowm 10% to down 3%........@)

at this pace u may have a gap up!!!!!

https://www.investing.com/commodities/crude-oil-streaming-chart


would be good if it can consolidate , form a base at $25-$26 before Thursday. Good news on Thursday and pop.......then sell into the news. ........There's no demand , lol

 

[Bruins4Life]

Order filled at $12.51

Comment, criticize, whatever lol.

 

[Ricboff]

you exited where YOU were comfortable. You put a stop and it was executed

congrats on the profit (<)<

 

[KennyB]

I think you asked. Fair question and got good answers, other than one douchebag. Good job.