As soon as you have entered your trade, make sure that your target and stop loss orders have been placed, either manually, or automatically by your trading software. With most trading systems, your target order should be a limit order, and your stop loss order should be a stop order. These order types allow your target order to be filled as soon as possible, while making sure that your stop loss order will be filled if necessary. If you would like further information about these order types, complete descriptions are available in the order types article.
Making your First Trade
By Adam Milton, About.com Guide
Explore Day Trading
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