Stop losses and trailing stopsDon't think that if you put in a stop loss for say $4.30 that you will be sold at $4.30 your sell order goes in at $4.30 as a maket order. If the market drops to $4.05 that is what you will get paid. On these volitile stocks they can swing heavily and be manipulated easily. There are traders out there waiting to pounce on your inexperience. If you want to sell put in a sell order at a set price and be done with it. You have control.
Been there / done that.