I have been actively trading for the last month or so and as I work on my PC, I would constantly track my trades and make adjustments accordingly. However September saw start of my college which means that I am unable to track the market as actively as I did earlier due to my classes. Consequently I have 'lost' some money as my trades would hit my target, but as I would be coming home after 2pm, they would have withdrawn back and it took a week for the price to come anywhere near my target. I did try the stop loss option in paper trading but I think I did it wrongly as the trade was executed immediately...so I am a bit hesitant trying it out on the actual market. Here is a scenario which I hope you guys will help me out with:
Bought 100 shares @100...few days later the price is at 125...book partial profits and set a target of 130 but want to sell off if the prices goes below 120. So what I need to know is how to set the upper limit (i.e sell off if the target is achieved) and how to modify stop loss of already existing shares so that they will sell off if the lower limit is breached. Thanks in advance for any help:thumb:
Bought 100 shares @100...few days later the price is at 125...book partial profits and set a target of 130 but want to sell off if the prices goes below 120. So what I need to know is how to set the upper limit (i.e sell off if the target is achieved) and how to modify stop loss of already existing shares so that they will sell off if the lower limit is breached. Thanks in advance for any help:thumb:
