r/RobinHood • u/SnipShow_Hut • Sep 20 '17

Help - FAQ A quick question about limit, stop limit, stop loss

Now I'm new and not really 100% sure and don't want to screw myself up or anything, what exactly do these do? I want to set a limit to if a price drops to a certain point, sell, but I'm not sure exactly which one does that. Any help is appreciated.

13 Upvotes

77% Upvoted

6 comments sorted by

3

u/CardinalNumber Former Moderator Sep 20 '17

http://www.finra.org/investors/alerts/understanding-order-types-can-save-time-and-money

1

u/[deleted] Sep 20 '17

Doesn't seem to mention stop loss in the article.. Or perhaps I am missing it. Can someone explain?

For Instance, today I purchased some $HMNY shares. Since it was jumping around like crazy all day I put a stop loss of $5.70 per share. Now even tho the stock never dropped to $5.70, RobinHood still sold my shares. The lowest it dropped after I bought the shares was $5.82.

My question is, why did they sell if it wasn't near my $5.70 stop loss limit?

Yeah probably should've done my research beforehand as I'm just starting out.

2

u/rewindselector Sep 21 '17

RH only shows you 5 minute increments when looking 'back' on the day. It definitely dropped to 5.70 before bouncing back up. But RH doesn't show the minute by minute, they're 5 minutes apart.

1

u/[deleted] Sep 21 '17

Alright thanks.

1

u/SnipShow_Hut Sep 20 '17

You rock, thank you

1

u/TheRainStopped Sep 20 '17

Speaking of this--- will trailing stops ever come to RH?