stop-loss in a gap with td ameritrade

[dsalas]

Hello guys, my first post, well sadly I lost money today and even though I have never posted here I always read. Today I have a big trouble JWN the one I was in gap down i had an stop-loss at 33.00 but it never activated so it plunged and I went down with it directly. My question is if you know a way to set a stop-loss order or stop market that will activate even if the activation price is not reached . I mean a way to sell the stock at 33.oo or lower without having to activate. Selling at 33.00 , 32.99, 32.98, etc WHat i try to explain is a stop-loss orders that triggers at 33.00 OR lower even if 33.00 is not traded a or through. Sorry if the question is silly but I have got just 1 year in this and help is greatly appreciated. currently I am trading with ameritrade.

Let me know guys, so that I can avoid any other disaster if there is a gap down because of news...

thanks

 

[TA Jedi]

Use TradeTriggers. If LAST trade is equal to or less then your stop-loss, then activate a sell order at market price. Your order will execute after the very first trade that posts below your stop loss. There is no way to trade within the gap but you can at least exit at the first available moment.

 

[dsalas]

Hi TA Jedi. Can you explain me how to do this in Ameritrade ?

thanks a lot

Daniel

 

[dsalas]

Hi Ya jedi I saw the demo. Thanks anyways. I have one more question is it better to set the trigger at "sell" stop-market or just market .Let me know please thanks

Daniel

 

[TA Jedi]

A stop market order is the same as a triggered market order. It turns into a market order when the price reaches your stop-loss. I would use a market order just in case because it eliminates an extra step and it also prevents the scenario you described in your OP - namely the order failing to activate if your stop-loss price falls within the gap-down.

 

[dsalas]

thanks TA jedi, So a stop-market order doesn't activate if the price falls into a gap???