Can I trade this way?(Putting a stop loss just below the highest point)

[superprogrammer]

I have few basic questions related to trading

1. Lets say the CMP of a company A is 60. Can I buy 1000 shares in such a way that when it reaches 50, it should be sold automatically and when it reaches 90, it should be sold automatically too. (I guess both things can be achieved using stop-loss?)

2. Consider a similar scenario but with little modification. I buy 1000@60 and what I want is that if it reaches 50, it should be sold. But in case of high point till it keeps on increasing, I wont sell it and the moment it reaches the highest point and starts decreasing, I sell it. For instance it reaches from 60 to 90 to 125 and then starts decreasing to x=120(and eventually to may be 90/80/50). Can I put my stop loss point at this 'x' which is variable(This x is actually 5 points below the highest point which is achieved after crossing '90')
Is this thing achievable using any of the trading account interface or any other way(robots?)

Thanks in anticipation for the responses!

 

[Capricorn]

To answer your stop order query you can only place a buy stop above CMP and a sell stop below CMP.

That should answer both your points

To buy below CMP and sell above CMP use limit orders.

 

[bandlab2]

1. Yes you can, you need to place 3 orders sepeately. first place limit buy order at 60, AFTER its executed place a limit sell order at 90 and place a stoploss limit sell order at 50. if 50 or 90 is taken out then you need to CANCEL the other order

2. no you cant place orders at unknown (variable) price. follow above appoach by watching the price yourself. once it starts the downward journey then place a sell order

btw, all orders are valid for THAT DAY only

I have few basic questions related to trading

1. Lets say the CMP of a company A is 60. Can I buy 1000 shares in such a way that when it reaches 50, it should be sold automatically and when it reaches 90, it should be sold automatically too. (I guess both things can be achieved using stop-loss?)

2. Consider a similar scenario but with little modification. I buy 1000@60 and what I want is that if it reaches 50, it should be sold. But in case of high point till it keeps on increasing, I wont sell it and the moment it reaches the highest point and starts decreasing, I sell it. For instance it reaches from 60 to 90 to 125 and then starts decreasing to x=120(and eventually to may be 90/80/50). Can I put my stop loss point at this 'x' which is variable(This x is actually 5 points below the highest point which is achieved after crossing '90')
Is this thing achievable using any of the trading account interface or any other way(robots?)

Thanks in anticipation for the responses!

 

[rohangawale]

Important thing is when one order is executed you have to delete the other order(atleast in PIB) it doesnt got deleted automatically. if you forgot to delete it and stk come to low level the order will get executed automatically.
so aware of the order which are pending.

 

[superprogrammer]

Important thing is when one order is executed you have to delete the other order(atleast in PIB) it doesnt got deleted automatically. if you forgot to delete it and stk come to low level the order will get executed automatically.
so aware of the order which are pending.

When the order at higher price is already sold, then how come the order at low level get executed?

 

[B.P.MOHANTY.]

Thanks.Try to clear all your doubts.Then book orders.BPM.

 

[harshatmehta]

When the order at higher price is already sold, then how come the order at low level get executed?

It would become Short selling.