I know this is fairly fundamental but I just want to be clear on how stop-loss's work.
Say I'm holding a stock that's trading at 17c and I have a stop loss in place at say 16c.
Let's say during the day the stock rockets to 25c. If I then amend my stop loss to sell at say 23c, am I right in saying it won't trigger unless the price drops below this?
Since the stock traded at 17c during the day, I am unsure if this means the stop-loss will see this and trigger......if that makes sense?
Very newbie question I know!