# How to use a stop and limit order together?

If I own a stock that trades at 100$, and I want to sell the stock if it either goes to 95$ or below and also if it goes to 105$or above, is it possible to do so? Do I need to use a stop order or a limit order? • You're asking a lot of questions. Could you try and pick better tags? This question has nothing to do with stock analysis, for example. Apr 30, 2013 at 22:22 • @JoeCoderGuy - have you heard about Guaranteed Stop Losses. Also you can have a stop-limit order as JB has mentioned or a stop-market order. May 1, 2013 at 7:07 • @JoeCoderGuy - what are you talking about? A GSL is basically a market stop loss order which you pay a premium (extra fee) in order to get executed at the price you specify in your GSL. The whole point of a stop order is that you want to be filled, so your statement doesn't make any sense. If you put a simple stop-market order you will get filled at the next market price after your stop gets triggered. Sounds like you don't know much about these type of orders from your comments. May 1, 2013 at 19:53 • @JoeCoderGuy - you pay an extra fee for a GSL, usually 0.1% extra on the value of you order. It is something you should consider using or not using in your risk management strategy. May 1, 2013 at 20:27 ## 1 Answer You need to use one of each, so a single order wouldn't cover this: The stop-loss order could be placed to handle triggering a sell market order if the stock trades at$95 or lower. If you want, you could use a stop-limit order if you have an exit price in mind should the stock price drop to $95 though that requires setting a price for the stop to execute and then another price for the sell order to execute. The limit sell order could be placed to handle triggering a sell if the stock rises above$105.

On the bright side, once either is done the other could be canceled as it isn't applicable anymore.

• Some brokers allow "group" orders, such that when one is executed all other orders are cancelled. Apr 30, 2013 at 22:52
• It is called an OCO - One Cancel Other order, so you can place a stop loss order and a profit target order and whichever gets triggered would cancel the other. May 1, 2013 at 7:05
• and if you forgot to cancel you are screwed? Jun 5, 2020 at 11:52