Sorry for the newbie question but wondering if someone could answer this for me in regards to a stop loss?
Stock A = £100
If I put in a stop loss of £90 so it sells at -10%, will it always sell at the £90 marker or will it sell if the loss is -10%?
What I mean by this is that if Stock A goes up to £120 but my stop loss is for £90 (-10%) will the stock be sold if it goes from £120 to £108 (10% loss) or will it only sell when it hits £90?
I have Freetrade+ and was just wondering whether you would need to keep updating the stop loss if the stock price got higher or whether it worked off the percentage of loss?
When you set a stop loss on Freetrade plus it is a fixed £/$ amount not a percentage. A stop loss that is a certain % behind is called a trailing stop loss
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