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
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
