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how to place a stop order in geojit

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  #1  
Old 2nd March 2006, 05:04 PM
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Default how to place a stop order in geojit

Hi,

This question is to anybody using stop loss orders, especially to people who trade in geojit.

I had a problem with stop loss order. Yesteday i went SHORT on gujrat alkalies. The price at which i went SHORT was 152.
I placed a stop loss order. The procedure was:
1. I selected MARGIN in the product coloumn.
2. I selected SHORT SELL in the side column.
3. I entered the quantity as 300.
4. The price condition i selected as STOPLOSS.
5. The price i enterd was 152.
6. I entered thr TRIGGER PRICE as 153.50.( IF THE PRICE OF THE STOCK MOVED TO 153.50 I WANTED TO BUY BACK).
7. The price of the stock came down to 150.
8. I expected it to go furthur. But, it reversed and went all the way to 160 WITHOUT BEING TRIGGERED AND BOUGHT AT 153.50.

Now the question is why wasnt the stock bought back at 153.50.
Or, have i missed something. Please EXPLAIN IN DETAIL.
THIS IS THE SECOND TIME IT HAS HAPPENNED TO ME RESULTING IN LOSSES.

Thanking you.
ravikiran
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  #2  
Old 3rd March 2006, 07:51 PM
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Join Date: Dec 2004
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amarnath is on a distinguished road
Default Re: how to place a stop order in geojit

Quote:
Originally Posted by vravikiran
Hi,

This question is to anybody using stop loss orders, especially to people who trade in geojit.

I had a problem with stop loss order. Yesteday i went SHORT on gujrat alkalies. The price at which i went SHORT was 152.
I placed a stop loss order. The procedure was:
1. I selected MARGIN in the product coloumn.
2. I selected SHORT SELL in the side column.
3. I entered the quantity as 300.
4. The price condition i selected as STOPLOSS.
5. The price i enterd was 152.
6. I entered thr TRIGGER PRICE as 153.50.( IF THE PRICE OF THE STOCK MOVED TO 153.50 I WANTED TO BUY BACK).
7. The price of the stock came down to 150.
8. I expected it to go furthur. But, it reversed and went all the way to 160 WITHOUT BEING TRIGGERED AND BOUGHT AT 153.50.

Now the question is why wasnt the stock bought back at 153.50.
Or, have i missed something. Please EXPLAIN IN DETAIL.
THIS IS THE SECOND TIME IT HAS HAPPENNED TO ME RESULTING IN LOSSES.

Thanking you.
ravikiran

Why not u can address this question to ur broker cant they answer ques of their customer . i have no idea on stock trading but wonder a broker cant answer its clients doubts / ques
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