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| Discuss which is a better strategy at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by loosingstreak Right, but why 2 orders for the long. you could make ... |
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#11
7th June 2007, 12:26 PM
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Re: which is a better strategy
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assume that you are short in rcom @437 & your sl is 441. so its better to place a sl buy order with 1% gap, as per my view the sl should be in beetween 446.05-441.05. now if it move up above 441 with gap, then i am secured, because i have placed a sl with 1% gap. but when i am in long i just want to pin point my entry (just above 441). thats why i placed an another sl buy order in beetween 441.95-441.05. thats my view. i may be wrong. 
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#12
7th June 2007, 12:26 PM
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Re: which is a better strategy
loosingstreak: its very difficult to psychologically execute ur strategy..
U have just taken a loss on a short trade, and the same instant u want to reverse to a long trade. Also, this type of trading can also be termed as revenge trading, meaning u say to the price " how dare u hurt me, wait, I will show you" U enter long, the mkt goes into a small correction, and u are out!
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#13
7th June 2007, 12:29 PM
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Re: which is a better strategy
a 1 % gap for SL!!!!!!!!!!!!!!
20 paise will help u execute upto 10000, biyas, in rcom u want to keep 5 rs as gap? arre, I sometimes have a 1 rs sl in rcom, with a 10 paise trigger gap
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#15
7th June 2007, 12:38 PM
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Re: which is a better strategy
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 , but my reasoning is that if the market has given a fake out and reversed there would be many traders like me caught on the wrong side and stops placed where mine is, which if trigered is going to lead to a big move in the opposite direction so why not take that trade. The market normally traps only one side from what little experience I have. Of course you can only loose as much as your stop. If you are wrong both ways its just too bad.  Alway open to advise and suggestions of experienced traders like you.
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#16
7th June 2007, 12:38 PM
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Re: which is a better strategy
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#17
7th June 2007, 12:44 PM
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Re: which is a better strategy
well it happens all the time in fast movin mrkts. U gotta be very careful. Even on liquid counters it may happen.
thats y i love to stay near the terminal thru out the day. thanks
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#18
7th June 2007, 12:47 PM
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Re: which is a better strategy
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#19
7th June 2007, 12:53 PM
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Re: which is a better strategy
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#20
7th June 2007, 12:55 PM
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Re: which is a better strategy
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1: power cut. 2: net connection down. 3: broker's phone is busy. these problem may happen anytime thats why i always place a limit sl order with 1% gap. so i feel more secure.
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