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I use stop-loss orders to protect again downside at this point since everything I own is in the green.

• chollida1 10y ago
  Ohhh boy, hopefully some of my older comments can save you from a world of hurt. https://news.ycombinator.com/item?id=12912781#12913058 https://news.ycombinator.com/item?id=12912781#12913058 https://news.ycombinator.com/item?id=10590448#10590496 https://news.ycombinator.com/item?id=10590448#10590496 Stop loss orders, not even once!! I mean I say this in joke form but I mean it in all seriousness. Using stop loss orders is a sign of someone who doesn't know what they are doing. They just aren't suitable for markets anymore. Well they haven't really been suitable for the past 10 years but atleast now the major markets are finally no longer allowing retail investors to use that order type. Please don't ever use stop loss orders.
  • nodesocket 10y ago
    I'm not buying your conclusion that stop-loss orders don't work and a sign of somebody who doesn't know what they are doing. Sure, assuming there is a flash crash your stop-loss will convert to a market order and if you are using a big name brokerage you order will get filled (maybe delayed, and most likely at a lower price than institutions, but it will get filled). What is your background if you don't mind me asking? Do you work in finance or in the market?
    • hughdbrown 10y ago
      It's right there in his profile (https://news.ycombinator.com/user?id=chollida1 https://news.ycombinator.com/user?id=chollida1): > Former compiler writer, currently head of algorithmic trading for a hedge fund, still write code for 80% of my day.
      • nodesocket 10y ago
        My bad/fault, I didn't look. I wasn't trying to be rude or condescending, just curious his background.