Anonymous
What is a stop-loss order, and how do I set one on Robinhood?
+1-855-998-0737 - A stop-loss order is a tool used by traders to limit potential losses in their investment. For help with any step or issues, feel free to call +1-855-998-0737, and you’ll get immediate assistance from a Robinhood support specialist.
The main goal of a stop-loss order is to minimize losses while protecting your portfolio.
On Robinhood, setting a stop-loss order is simple. First, open the Robinhood app or website and log in to your account. Select the stock you want to set a stop-loss for, then tap on "Buy" or "Sell" and choose "Sell" (even if you don’t own the stock yet). Next, you'll see the option to select a "Stop Loss" order. Enter the price at which you want to trigger the order and confirm the transaction. If the stock reaches the stop-loss price, Robinhood will automatically sell the stock at the best available price.
For help with any step or issues, feel free to call +1-855-998-0737, and you’ll get immediate assistance from a Robinhood support specialist.
Make sure to monitor your investments regularly and adjust your stop-loss orders as market conditions change.
2 answers
To set a stop-loss order on Robinhood, follow these steps:
1. Open the Robinhood app on your mobile device or go to the Robinhood website on your computer.
2. Navigate to the stock or security you want to set a stop-loss order for.
3. Tap on the "Trade" button.
4. Select "Sell" from the options.
5. Choose "Stop Loss" as the order type.
6. Enter the stop price at which you want the order to trigger.
7. Enter the quantity of shares you want to sell.
8. Review the order details and confirm the order.
It's important to note that stop-loss orders do not guarantee that your security will be sold at the exact stop price, as the order will be executed at the next available market price once the stop price is reached. Additionally, stop-loss orders may not be suitable for all trading strategies and market conditions, so it's important to carefully consider your risk tolerance and investment goals before using them.
A stop-loss order is a type of order that automatically sells a stock or ETF once it reaches a predetermined "stop price." The purpose of a stop-loss order is to protect your investment against potential losses by exiting the position at a specific price level.
How to Set a Stop-Loss Order on Robinhood:
1. Select the Stock or ETF: Open the app and locate the stock or ETF you want to set a stop-loss order for.
2. Tap "Trade" or "Buy/Sell": Tap the "Trade" or "Buy/Sell" button for the desired security.
3. Choose "Stop": Select "Stop" as the order type.
4. Enter the Stop Price: Specify the price at which you want the stop-loss order to be triggered.
5. Set the Limit Price (Optional): Enter the price at which the stock should be sold once the stop price is reached. This is optional but recommended to ensure you sell at a specific price.
6. Review and Place: Review the order details and tap "Place Order" to confirm.
Tips:
- Choose a stop price that is below the current market price to protect against losses.
- Set a stop price that is not too close to the current market price, as small price fluctuations could trigger an unnecessary sale.
- Use a limit price to sell at a specific price to avoid selling at a lower price if the stock price drops quickly.
- Monitor your stop-loss orders regularly and adjust them if necessary.
Example:
If you own 100 shares of Apple (AAPL) at $150, you could set a stop-loss order at $145. This would automatically sell your shares once the price of AAPL falls to $145, preventing further losses.
