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Is there a way to set a stop for a stock before you own it?
why not just use a conditional order (http://www.investopedia.com/university/intro-to-order-types/conditional-orders.asp)? Like a one triggers one order? an order like this lets you place a buy order for the stock and if its executed another order is automatically placed. you could choose to let your second order be a stop order. so here's a company that offers stuff like this as an ex. (https://www.tradeking.com/education/tools/one-triggers-other-order)