with all that being said below about each trader determining where to set their own stop-loss orders based on their own unique trading plan, profit targets and risk tolerance, i will continue to post objective stop levels based on the technicals for many of the trade ideas posted here. here’s a 60 minute chart of FSLR showing a couple of objective stop levels; a tight stop just below the uptrend line and a more liberal (loose) stop based off that horizontal support level.
when closing a position at a predetermined target, i prefer to set my limit order to sell a long (or buy-to-cover on a short) slightly below the target/resistance level (slightly above the target/support level) as to avoid missing a fill if the stock reverses right at or just shy of that level. on the flip side, i prefer to set the stops on my longs (or shorts) just below a support level (or above a resistance level) as to avoid getting my stop hit just before the stock bounces off that level or makes a very slight overshoot before bouncing.