Okay, so I'm very new to this, but willing to give it a shot. Looking at the lowtrades website I can see that it's $4.95 per trade. My question is regarding "backstops" Now I'm assuming (and yes I know that assumption is the mother of all screwups) that you can set a back stop to automatically sell if your stock **gulp** falls to a certain price? Am I correct in this assumption? If so, that leads me to my next question, on the lowtrades website will a "backstop" be called a "backstop" or will it be called something else? This is why I ask, I was looking at the the commissions page, and limit orders, stop orders, stop limit orders, trailing stops all of these cost $4.95, but then it says that stop orders and stop limit orders can only be placed on stocks trading at $1.00 or more. Could someone please take the time to explain this to me as if I was a 5 year old trying to daytrade, lol.
Help.