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And what about the people who lost a lifetime of money in 20 minutes?
by csmeder 16y ago
And what about the people who lost a lifetime of money in 20 minutes?
- ph0rque 16y agoThey got most of it back in the next 40 minutes.
- deleted 16y ago[deleted]
- rdtsc 16y agoNot if they had set stop-loss triggers to protect against a large loss. That works well for a slow falling stock, but it doesn't work for a plunging stock. The stop-loss for Accenture might have been $15, but by the time the market order sale was executed, it could have gotten down to $1. Unless the stop-loss was immediately followed by a limit order, all the value stored in that stock would have been wiped out.
- hugh3 16y agoIn which case this would be bad luck for any individual who happened to have their life's savings in Accenture stock with a stop-loss order placed on it. I doubt this covers too many individual investors, though.
- Qz 16y ago...and that trade would be canceled.
- Keyframe 16y agoif movement was larger than 60%, which in most cases it wasn't.
- borism 16y agothat's why you don't use stop loss, only stop limit!