How do you place a stop limit order on a stock your short selling with zecco?

Question

Confusing but I don't know how basically I want to short sell a stock but have it automatically sell to stop losses if it goes up.

Answer 1

With any broker you place a "buy stop".   If you've never placed a "buy stop" before.... you probably don't have enough experience to "short" a stock. (ie; do you use "buy stops" to enter long positions?).

Will you be using "Technical Analysis" to determine the best place to enter your "short"?

With your level of experience you shouldn't be with a broker like Zecco. Using a Schwab or Fidelity will at least give you an avenue to ask these questions. Zecco has consistently been on the bottom of the list for "service". Look at this years Barron's Best Broker article.

Answer 2

If you're entering a sell (short) order at a price that is above the current market price, you would not put in a "stop" order, you would enter a regular sell order at the higher price. BUT you would have market you sell "short"

You can not enter a sell stop at a price that is higher than the current market price.

It would be in your best interest, to study a little longer in the area of stop orders.

ALSO I hope you did get permission to sell the stock short.

Answer 3

probably ask your stock broker.