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Stop orders don't guarantee execution or any specific limit to the loss; During a flash crash, you'll realize that a "10% stop loss" order CAN become a 50% loss.



This. I'm very familiar with stop orders. They're useless once the market goes to hell (the exact conditions you need them in).

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I don't disagree with you, still, 50% losses are not 100% losses (or even more than 100% losses)

So I guess they have a role in limiting losses (which had they not been there would be much bigger)

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