moving stop loss-ICICIdirect

[hbkhrushikesh]

Hi all,
I am a relative beginner (cumulative experience of 3 months). There are a few things that I have really struggled to understand.

My trading methodology:
1) I deal in companies that have a huge legacy. Eg: tatas, reliance, mahindra, birla hindustan lever etc. in short...... and simple...... the companies that we see in day to day adverts on tv etc
2) I use the 'go with the trend' technique i.e. when i zero in on a company/sector i see the charts for the trend ( week/month/yr/3 yrs) then dig all the recent company news, market trend of sector..... wait for a downward trend to end and normally enter on the 3rd of 4th day of the uptrend after the downtrend that i observed.
3) I dont do day trading.
4) All my trasactions are cash and delivery. no BTST as well
5) I think I am a bit jumpy when it comes to makin profits....... and in the last 2 months i have sold almost all the shares at abt 20 to 25% profit range. I have to work on this ... a typical eg was tata motors buy mid feb09 for 135 sell last week of march for 175. Although the stock was continuously on up trend since the day I bot till the day I sold.

My Q is, during the above mentioned tata motors transaction, my stop initially was 120....... but as the price started rising i wanted to change the stop loss to higher values ( eg 135 when price was 150, 150 when price was 175) I wanted to do this to ensure that when the stock falls and if i am not trading on that particular day or 2 ( occupational hazard) then i wud lose money.
I read abt moving the stop loss with increasing stock value........ but when i asked icicidirect abt how to do it ...... they said it cannot be done!!!

Can anyone on this forum tell me how this is done???

Thanks
Rishi

 

[NOMINDTR]

ICICI Direct will not automatically move your stop. You have to order them.
Hope I have addressed the question.

 

[hbkhrushikesh]

ICICI Direct will not automatically move your stop. You have to order them.
Hope I have addressed the question.

Thanks!!!

my Q was how to order them??? i know how to do it the first time.... ( while buying the shares) but havent come across ne link on site to change it afterwards.

 

[sukhwinder777]

DEAR,
as we sen in past, every stop/loss even for bleu chip stocks triggered, and then advisor ...foregoing..... after a strong support is .... ...?
No one can predict the exac s/l EXACTLY.
You must follow the trailing s/l as going on below 14-17Rs for that cmp, not to change s/l once placed.
have a good day..!

 

[srinivas.nukala]

Thanks!!!

my Q was how to order them??? i know how to do it the first time.... ( while buying the shares) but havent come across ne link on site to change it afterwards.

It is better to follow trailing stop loss.Better to use ATR indicator

 

[NOMINDTR]

Thanks!!!

my Q was how to order them??? i know how to do it the first time.... ( while buying the shares) but havent come across ne link on site to change it afterwards.

You trade yourself or in broker's office? Sorry I you have mentioned already and I have over looked.

 

[hbkhrushikesh]

You trade yourself or in broker's office? Sorry I you have mentioned already and I have over looked.

I trade online ( no broker )

and I am at my wits end as far as moving stop loss is concerned. I totally understand the logic, of moving the stoploss to a higher value if the stock price shoots up. Just dont know how to do it!!!

 

[Nava]

I am also looking for the same thing in ICICI direct. If my shares are moving in profits then

How to lock the profit from any sudden drop..?

I understand that to do this everyday we have to place a Stop loss Sell order to limit our loss in profits.

Is there any other way to do this in ICICI direct...?

Thanks,
Nava

 

[hbkhrushikesh]

I am also looking for the same thing in ICICI direct. If my shares are moving in profits then

How to lock the profit from any sudden drop..?

I understand that to do this everyday we have to place a Stop loss Sell order to limit our loss in profits.

Is there any other way to do this in ICICI direct...?

Thanks,
Nava

As u r selling shares in u r account........ i am not sure........ how a stoploss can be placed on a sell order......

on a sell order a stoploss can be palced only if it is being sorted ( icicidirect) otherwise the stoploss price will be lower then sell price which doesnt make sence. If it is higher then sell price........ it still doesnt make sence!!!

 

[Nava]

As u r selling shares in u r account........ i am not sure........ how a stoploss can be placed on a sell order......

on a sell order a stoploss can be palced only if it is being sorted ( icicidirect) otherwise the stoploss price will be lower then sell price which doesnt make sence. If it is higher then sell price........ it still doesnt make sence!!!

Hi, gsalvadi,

Thanks for your all previous replies regarding ICICI direct qurries.
Can you clarify my above qurrey..?

Regards,
Nava