FLR got all the way up to $105.50 this morning, so I decided to put in a stop-limit order at my break-even price (to cover $14 in commissions). You can see my order above. If FLR drops to $103.78, my stop price, it will trigger a sell order. This sell order will have a limit price of $103.73, meaning I will not accept a sell price lower than $103.73.The advantage of putting in this order is that I have no chance of losing money on this trade. The disadvantage is that FLR could drop to $103.78, and then skyrocket up to $110 - thus I would be stopped out of the trade and then miss out on some potential profits.
With FLR at $105.50, that would be about a $100 profit if I sold. It's tempting, but patience is key.
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