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Buy Stop at trigger price with Sell Stop.

QuestionsCategory: QuestionsBuy Stop at trigger price with Sell Stop.
Jason Hubert asked 1 year ago
I work full time job and mostly not able to watch key list for breakouts.  I need to set buy stop orders to fire when it hits the trigger breakout price. I realize I am not going to be able to see the quality of the breakout in terms of volume push and strength , I suppose that is just something you need to concede to placing an order like this.  The question I have in regard to placing a buy stop order like this is where I should also have it automatically place a sell stop to protect me. Again, while I am working I may not see any of this action until I get home from work and the market is closed.  Is there a best practice for this sell stop such as 3% or would you determine a stop price based on the individual stock itself and have that entered as your stop criteria to be placed once your buy stop has filled?   Thanks for all you do. Jason Hubert
1 Answers
Avatar photoOwen Staff answered 1 year ago

Hi Jason,
Pat made this video for you...
https://youtu.be/O3c9lVPgaMY

Jason Hubert replied 1 year ago

This answered my question perfectly. Much appreciated, top notch!!