TheRed wrote: ↑Jul 24th, 2012 6:47 pmI had a sell stop limit order set but the stock was plunged soo fast that it went lower than my sell limit price... damn...in case you're wondering its apple today. Set a sell stop limit price at 596 lmt and 598 stp but wtf its not working by the time I checked the price was 570 already and i lost 400 in a matter of couple of mins
Is this my broker's fault that they couldn't execute my order fast enough?
Correct. Know your definitions of the stops:
On a hindsight, I know I should've just done sell stop order and let it sell by whatever the market price is... first time trying sell stop limit
Stop: a market order is triggered if price hits or passes your set stop price <--- you will sell 100% guaranteed
Stop limit: a limit order is triggered if price hits or passes your set number, and it will ONLY sell AT your set price
Also, if you want a piece of advice, OTA teaches us NEVER trade earnings. AAPL, case in point. Did ANY analyst out there say "Apple is going to miss?" ZERO. No one can predict it, so you just did a setup that was:
100% opposite to what you wanna do to be profitable.