Hi all,

I'm just wondering if this is possible.

I purchased 100 shares of ABC at $20, and the market price is now at $30.  My goal is to sell all 100 shares at $40 or better, so I set a Sell Limit Order for 100 shares at $40.  However, I also want to break even if the stock drops, so I would want to set a Stop Loss (or Stop Limit) order at $20.

My question is if it is possible to have both orders running at the same time if I only own 100 shares of ABC?  If not, what are the alternatives?

Unfortunately, the last time I checked, you can set one type of order or the other.  Not both at the same time on the same stock. 

Now something for you to consider:

You only bought 100 shares @$20/share?  That is $2000 ... and you paid $10 to process that purchase ...  When you sell, by whatever method, you will pay another $10...  So basically, you pay one percent of the purchase price by the time this transaction is completed, profit or no...  Keep your commission fees in mind as you make purchases and sell your stock... it can make a huge difference in your bottom line.  Another 100 shares, and your commission doesn't change, but the chances of making a better profit is more than doubled.  On a sale at $40/share, instead of making $1980, you would make $3980 ...

In the game, you are allowed to invest up to 20% of your portfolio value in one stock.  I seldom do much more than 10%, but if you have a portfolio of $100K, you put only 2% on ABC...  If you like it so well, why didn't you buy more?

mho...

GOOD LUCK and HAPPY TRADING!

go ahead

I thought max was 25%

Good answer Melany