You should be using these kinds of orders no matter what stocks you trade; they will help protect your trading capital

Limit Order when buying or selling stock

What Does Limit Order Mean?
An order placed with a brokerage to buy or sell a set number of shares at a specified price or better. Limit orders also allow an investor to limit the length of time an order can be outstanding before being canceled. Limit orders are very useful they protect you from paying too much for a stock and or protect you from selling your stock to cheaply.

Depending on the direction of the position, limit orders are sometimes referred to more specifically as a buy limit order, or a sell limit order.

Limit Order
Limit orders are beneficial because when the trade goes through, investors get the specified purchase or sell price. Limit orders are especially useful on a low-volume or highly volatile stock.

Trailing Stop Order to cover your downside.

What Does Trailing Stop Mean?
A stop-loss order set at a percentage level below the market price - for a long position. The trailing stop price is adjusted as the price fluctuates. The trailing stop order can be placed as a trailing stop limit order, or a trailing stop market order.

Trailing Stop
This is such a useful tool, yet many fail to use it. Using a trailing stop allows you to let profits run while cutting losses at the same time.
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Risk Tolerance

What Does Risk Tolerance Mean?
The degree of uncertainty that an investor can handle in regard to a negative change in the value of his or her portfolio.

Risk Tolerance
An investor's risk tolerance varies according to age, income requirements, financial goals, etc. For example, a 70-year-old retired widow will generally have a lower risk tolerance than a single 30-year-old executive, who generally has a longer time frame to make up for any losses she may incur on her portfolio.