When an investor believes there is a buy opportunity at a given price, which is above current market price, he or she can place a buy stop order. This way the investor would not “miss a perceived buy opportunity” once the stop price is reached. When the stock price reaches the stop price a market order is activated and the order gets executed at the best price available.
Example
ABCD stock is trading at $10 per share. You, as the investor, understand that once the ABCD stock price reaches $15, it could go even higher. In this case, you can set a stop order with a stop price of $15, and once ABCD hits $15 per share, a market order will be activated and executed at the best price available. If ABCD stock price never reaches $15, your stop order won’t be executed.
Here is the step by step on how to enter a stop order:
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When an investor wants to protect its position in a given stock, he or she can set a sell stop order with a price below the current market..
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Currency and cryptocurrency exchange services provided by Passfolio Financial LLC (“Passfolio Crypto”), a US Money Services Business registered with FinCEN. Passfolio Financial LLC is not a broker dealer. Cryptocurrencies are not protected by either FDIC or SIPC. Securities products and services offered to self-directed investors through Passfolio Securities LLC Member FINRA / SIPC. Passfolio Securities, LLC does not provide cryptocurrency-related services. Passfolio Securities LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.
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Passfolio Securities, LLC
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V.09 11/24/2020
