How can I set an upper limit and a lower limit to sell a stock?
I have been doing a lot of researcher on day trading and penny stocks and I have studies stop orders and limit orders. When it comes to investing in highly volatile penny stocks it is imperative to have a stop loss order so that losses are minimized and so I don’t have to sit in front of my computer watching a ticker constantly. Example: Lets say I purchase 100 shares of stock ABC and it is trading at $.50 (50 cents), in oder to not worry about watching a ticker all day and automating the sale I would like to set an upper sell limit at $.65 (65 cents) so that I can make a sizable profit (assume I don’t care if the price continues to rice above 65 cents, I just want to cash out at this point) and a stop loss order at $.43 (43 cents) so that I can minimize my losses. I know how to do each order type individually, but how might I go about creating both the upper limit and the lower limit on the same sell order?
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