I went through all threads in this portal refrerring to STOP LOSS but was not able to get clear insight to my problem which i am facing...so i just created new thread to get fair idea about it.
Here is my scenario...
Suppose i am doing an intrday trade for xyz share.
I bought 500 shares @ 100 each. Now i want to sell the shares as soon the price touches 102 and in order to insulate myself from any large loss in case price starts drifiting down i want to set 98 as my stop loss trigger.
How do i need to put my sell order in this case.
My brokerage account help says that The stop loss trigger price has to be between the limit price and the last traded price at the time of placing the stop loss order.
Here is my scenario...
Suppose i am doing an intrday trade for xyz share.
I bought 500 shares @ 100 each. Now i want to sell the shares as soon the price touches 102 and in order to insulate myself from any large loss in case price starts drifiting down i want to set 98 as my stop loss trigger.
How do i need to put my sell order in this case.
My brokerage account help says that The stop loss trigger price has to be between the limit price and the last traded price at the time of placing the stop loss order.