MatthewEr
01-17-2016,
I bought 100 shares of CNXT at 1.85 a few weeks back based on a Cramer recommendation. I figured this would be a good cheap stock to start with, since I'm fairly new to trading stocks.
After watching it do nothing for weeks it finally started moving today. I currently trade with Scottrade which charges a $7 commission to buy and sell, so I figured the stock would have to go to at least 1.99 to really break even. After watching the stock go to 1.99 I tried to put in what I thought was a limit order to protect any profit I might have made.
So I did a sell stop limit at 1.99, only to log back on a couples hours after and see that it SOLD at 1.99. So I have a few questions:
1. Should I have used a trailing stop with preset points?
2. How do you guys protect your profits?
3. Does this also work in reverse to not extend losses?
TIA
After watching it do nothing for weeks it finally started moving today. I currently trade with Scottrade which charges a $7 commission to buy and sell, so I figured the stock would have to go to at least 1.99 to really break even. After watching the stock go to 1.99 I tried to put in what I thought was a limit order to protect any profit I might have made.
So I did a sell stop limit at 1.99, only to log back on a couples hours after and see that it SOLD at 1.99. So I have a few questions:
1. Should I have used a trailing stop with preset points?
2. How do you guys protect your profits?
3. Does this also work in reverse to not extend losses?
TIA