If you place a stop loss into the TSX-v exchange, the market maker can see where you placed that stop loss. It's called level 3, we as investors can't see the stop loss, but the market maker certainly can. This is why you will hear the phrase running the stops. Market maker sees a bunch of stop losses sitting at a support level, they will sell a stock down to that level, triggger the stop losses then sit on the buy to pick them up. Soon as the stops have been triggered and they own your shares, they buy the stock back up. The stock goes back to the price level it belongs, you have lost your shares and the market maker makes them available for you to buy them back. Of course at an inflated price.

This is the reason I tell people on TSX-v stocks never actually put a stop loss into the system. Let's say you want to put a stop loss on NOT at $5.50, you make a note of it and then if/when NOT would go to $5.50 you would immediately put sell order in. This way you can sell into the real bid, not the market makers bid. Showing your hand to the market maker just gives them one extra shot at buying your shares on the cheap. The odds are already stacked against you, why lessen your odds even further?

Al