Example the stock price bid=20.25 and the ask=20.27
the stop loss order is similar to the buy or sell order.
you need to watch the bid price in the market
to do the stop loss order
1. enter the sell order with stop loss type
2. the stop price should by a minium of $0.25 cents below the current price
3. in the above example the bid= 20.25, so the sell/stop loss should be 20.00
4. in this exmple if the price go down below 20.00 then your order will be excuted.
5. I hope this explanition is very clear.