cwerdna
Well-known member
It's no guarantee, esp. if there's something goofy (e.g. whacked price or flash crash). But, at least if you set some reasonable stop limits (esp. this) or stop losses at levels well above what you paid but still well below where it's at now, if something happens, you can at least lock in some gains.LTLFTcomposite said:Yeah set limits that's the ticket. No way you can lose then :lol:
It's better than being inattentive, having a stock crater and returning to find "what happened to my stock?"
To give some numerical examples, let's say one bought TSLA at ~$27 (what looked like a prior support level) and rode it all the way up to now ($87.80). What's wrong w/setting a stop limits around $40, another around $35 and another around $32? Those look like prior resistance levels. Often, resistance levels become support.
Sure, you'll take a bath compared to where it is now, but you'll likely still have locked in some gains, if you set your trigger and limit sell price wide enough.
The fraudster execs at Enron kept being bullish during their stock's plummet and bad news. Look what happened to them.