Hi All,I was wondering if anyone could help me out here. (Not...

Hi All,

I was wondering if anyone could help me out here. (Not sure if there is a better area I should be posting this question?)

I'm fairly new to trading and have a question regarding stop losses.

I recently had a stop loss set on NDO to sell if the share price dropped to 19c (I set this with the close for the previous day being at 19.5c). However when the market opened and the price dropped my stop loss was triggered though my order was not fulfilled as the next buyers where at 18.5c, then 18c and so on. This resulted in my sell order being stuck at 19c. I then ended up selling the next day at 17.5c :(

Is there another type of stop loss used which can make sure a sell order is executed tothe next buyers bid no matter if the price keeps dropping rapidly?

For example in the above scenario I would have liked to say;

"Sell NDO when last trade is 19c. If 19c isn't bought then sell down to whatever the next buyer is bidding."

Any help would be much appreciated. At the moment I'm using Etrade so if there is some type of "etrade conditional order" that can execute such a task it would be great to hear about it!

cheers

Wayne