When shorting a stock. Do you "Stop" or "Limit" how high of a price you will pay for it. Same question for Covers, I heard it works opposite from a regular buy or sell where the Limit is how high and the Stop is how low. Is this correct. because i did a Cover with a stop order of $45.00 and is just covered me at $46.73. I just lost a lot of money.

sounds like you need some guidance,from the university school of hard knocks,just go to university the will explain everything in detail I would imagine for you and all us traders actually. But good luck in school & print-out what you need and read at your liesure I guess

Happabones:

When shorting a stock. Do you "Stop" or "Limit" how high of a price you will pay for it. Same question for Covers, I heard it works opposite from a regular buy or sell where the Limit is how high and the Stop is how low. Is this correct. because i did a Cover with a stop order of $45.00 and is just covered me at $46.73. I just lost a lot of money.

Well when you short a stock you would use a limit (the same as if you were going long with it) but theres no reason to unless the stock is say $45 and you want to get it as it is going down then you would set the limit at $44.75 (example) then later to cover say the stock drops to $40 and you dont want to lose money if it cames back up so you would set a stop loss at $40.25

thanks JamesLT, that's good to know