I posted a "I am in desperate need for help" thread a couple months back and after making my way through all the material...I finally jumped into the deep end and and bought my lot of stock.
ILU (@9.832... now @9.280) and BLY (@1.155... now @1.405)
I got ILU just before the mid year report was released but unfortunately I missed the sell and now waiting for it to climb back up. Ended up selling about half for a loss and bought into BLY when it was rock bottom. Luckily, I managed to get BLY on the way up. Overall... I am still down roughly $40 odd but hey I am still learning.
I am looking for some help in setting up Stop Loss Order for BLY, I want to lock in the profits if it should happen to fall. Currently I have set a stop loss trigger at 1.340 and have the sell order at 1.330. Seeing as I have never set a stop loss order before, Can I get some thoughts? Have I done the right thing?
Thanks in Advance