Changing the limit order multiple times on a bullish trend?

Asked 4 years ago

After buying Tesla stock, I set an order limit and readjust it when the market goes into a bullish trend. It seems to work for me, does anyone else do this?

Limit order Bullish trend Setting orders

Andia Rispah Igobwa

Tuesday, April 13, 2021

To maximize profits or minimize losses, there are many methods an investor can use.
One way is to use a limit order. This strategy means you put a limit to a price you'd pay for a stock or accept.
For a new limit order to come into effect, you must stop the old order.
But, there's a downside of a limit order if you don't watch the market keenly. 
Say you set a sell limit order of $40 for stock A, and you forget about it, then it sells once it hits that price. Say you make a 10% profit from this. 
But then you check the stock price and realize it's selling at $50. You will have sold early, and the limit order was of no help.