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Bob....
The regular stop loss order is a market order to sell once the stop price is
elected. A stop limit order is a limit order to sell if the stop price is
elected. The stop limit order is the weaker of the two for protection, but
could be better is the price rallies back up after a decline through the stop
price. However, it is my opinion that neither is a guarantee of protection,
basically because of trading gaps and halts.
You might consider buying a put when you buy the stock. You will have your
protection but you will have to pay for it.
The use of a stop loss or stop limit order is far better than nothing and most
likely will protect you.
Jerry
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