How do I place a stock order to sell if my stock drops below a certain price?

I bought a stock at a price of $8.00 a share. How do I place a sell order so if the stock drops below $7.50 it will automatically sell?|||Enter a sell stop order at 7.49. As soon as the stock trades at 7.49 or lower, your order becomes a market sell order. If the stock remains at 7.50 or higher, then nothing happens.





In an orderly market, you should get pretty close to 7.49. However, the market can gap well below 7.50, for example closing 1 day at 7.60, then opening the next day at 6.00 - if this happens, you'll sell at about 6.00, not 7.49.|||That's called a trailing stop order or stop loss order. Ask your broker.