Hello..

[sunder1]

Hi to all Members of Traderji...
I am new to this forum and I like to get some clarification on Using Odin Diet software. I am trading in commoditties using Odin Diet Software. Can anybody clear my following doubt:

Suppose I am having One Lot (long/buy) in Crude at 3500 in November contract and I want to Place fresh One Lot (Short/sell) at 3450 in the November contract itself without closing the Previous Long position (which is at 3500). Is it Possible to do it ?.. if so pls let me know how to do it.

Thanks
Sunder1

 

[andrenachrome]

Hi,

I am not sure of the functionality of this application but what you are trying to do is place a resting stop order (though the same functionality can be placed to enter the market).

Generally there are two types of order,

a limit order that you would indicate the price that you want to be filled at and will trade when that price is touched and only that price (the problem here is that if it is a break away market and the previous to you volume pushes down/up through your price which will activate your order but only on that price, this means that you may not get filled if the market does not come back).

or a market order which will go to market (pay whatever the price is trading at or below/above where you have placed the stop which can be a nightmare when someone has just placed a big order and that takes out a load of prices and once there order is complete you can pay the next available price which can be awful in a vol spike).

I would imagine that this application should have that facility or its pretty rubbish. Trying looking in the help for a limit or market order.

Good luck