HOLLYWOOD STOCK EXCHANGE
THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
no possiblility.... flash will tell you why
No, a limit sell order can only be set at a price higher than the current trading price. If you set a sell price below the current trading price, the trade will be executed immediately. Also, a limit cover order can only be set a price lower than the current trading price. If you set a cover price higher than the current trading price, the trade will be executed immediately.
http://www.hsx.com/help/?page=faq
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The reason HSX does not allow stop loss orders is to prevent manipulation of stock prices. Advanced orders can only work if you are making a profit on stocks, and NOT to prevent you from losing (fake) money. Otherwise players could set stop loss orders on 100 stocks if the price drops 1/2 point, etc., and that could affect prices.
So to prevent daytraders from manipulating prices, they don't allow this.
http://www.hsx.com/forum/forum.php?id=2&pid=66444
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You can only use limit orders to EARN profits, NOT to prevent you from losing money...the reason being too many people would use it to manipulate stocks. I could have orders set to sell any stock that drops .50 cents, and then buy it back for $1.00 less. You could do this all day long with shorts and longs of stocks.
HSX has said they will not offer this, due to the ability to manipulate stock prices. Remember that just because you can do something in the real world stock market does not mean HSX will offer it here....
HSX is more concerned with manipulation of prices if stop loss orders are allowed...and that's the reason it's not offered.
www.hsx.com/forum/forum.php?id=6&pid=46946
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The reason HSX does not allow this, is to prevent manipulation of the stock prices. If they allowed stop loss orders, people would have these set to sell stocks, cover them, etc., when the price dropped (or went UP, if shorted) and then re-buy them at other prices... so as LONG as you are making a profit with the way you HOLD a stock, HSX is OK with that, but they don't allow you to make trades that PREVENT you from losing money... for the reason I mention in my opening line post...
http://www.hsx.com/forum/forum.php?id=2&pid=87226
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And again...the reason HSX does not allow 'stop loss' orders, is to prevent people from manipulating stock prices. I could have stop loss orders set to sell 100 stocks that drop one point, then buy them if they go back up 1 point....these could be set all day long. HSX continues to say they will NOT allow stop loss orders, so we best stop asking for them.
http://www.hsx.com/forum/forum.php?id=2&pid=22480
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Is there a possibilty of stop loss trading orders being added in the near future ? {nm} Dec 15, 00:51
no possiblility.... flash will tell you why Dec 15, 10:59