Can we keep stop loss type order to have minimum profit

is there any type of order to secure profit in day trading?

Hi
i want to know can we place order which can give us at least minimum profit,
eg if i have bought @ 100 rate and cmp is 103 and i am expecting it to go higher, how an i secure my profit , is there any order type similar to stop loss ,can that be used on odin
thank you

how to secure profit in day trading

hi how to secure profit in day trading is there any type of order just like stop loss order ,so that we can secure our profit esp when c.m.p. is higher than buying price

Re: is there any type of order to secure profit in day trading?

You are already having 3% profit, NOW what will you do? do you want so save atleast 2% profit or take 3% profit and get out or wait for 8-10% profit?

stoploss order when you are in gains is called "Trailing Stoploss", which is used to protect your profits.

A: Using trailing stop order
I would suggest to save 2% at least. Put a stoploss (now we call it trailing stop as we are in 2% profit) at 102 trigger 102.

B: Using Average sell position
Sell 50% of your holding i.e., 50 shares at 103 and put a stoploss/trailing stop at 102 and wait, if it rises to 105 or 108 (which rarely happens) book remaining profit 50 shares at 108.
so, our average profit is 103+108/2 = 105.5 (5.5% profit)
if it falls to 102, you'll get out with 102+103/2 = 102.5 (still 2.5% profit)

C: Breakeven Stoploss
calculate your brokerage and STT other charges, which comes to 0.07, now put a stoploss at 100.70 trigger 100.70, this way you'll let the price swing and *may* give your more profits.

Here is my view. Lets discuss with an example.
Bought 100 shares @ Rs 100 each. Once ur stock moves up to Rs 105/- (ie +5%) sell 95 shares. Now u r left out with 5 shares whose cost will be ur brokerage+taxes as in our calculation we haven't taken brokerage into consideration in the 5% profit abv. If u r very bullish u can wait for 10-15-20% and can do in the similar way.
Krishna

hi
thanks for information
how to put trailing stop loss at odin platform?

supposing you have bought Xyz @ 100 and now it is at 103, and we want to put a stoploss at 102.

Your position is buy, so stoploss will have sell position.

1. click on xyz,
2. press f2 (sell)
3. choose order type - SL
4. after you select SL you can see the trigger price [ ] is activated,
5. enter price 102
6. enter trigger 102 (the trigger price should be >= price)
7. press enter to submit

that's it, if the price comes down to 102, then trigger executes your sell order at 102, else your buy position will remain in profit, till you decide to manually override the trailing stop.