Trailing stoploss

[toingpoing]

Which online brokerage gives the facility of placing Trailing Stoploss,--wherein there is no need to modify frequently and the system does it automatically till end of day/or cancelled.

 

[NOMINDTR]

I am yet to hear about such a system!!!

 

[AW10]

Which online brokerage gives the facility of placing Trailing Stoploss,--wherein there is no need to modify frequently and the system does it automatically till end of day/or cancelled.

I don't think any broker house in india is offering automatic trailing stop facility (would love to know if someone has come up to this level). This order is very powerful order for a trader.

The God has given us fingers to click the mouse button,so for the time being we have to depend on that and keep trailing manually.

To define what is Trailing stoploss - It is stoploss order where it is mentioned in the order to automatically update itself in the direction of trade but not in reverse direction. Eg. Order mentioning "trail by 10 rs from current price".. will place the first SL order at 101 when stock is 111. As stock moves to 115, the SL will be automatically updated by system to 105 without any manual intervention. If stock fall to 113, SL will still be at 105.. when price goes up to 118, SL goes up to 108.. At some stage, the stop will be hit or order will be canceled by user.

Happy Trading.

 

[toingpoing]

I don't think any broker house in india is offering automatic trailing stop facility (would love to know if someone has come up to this level). This order is very powerful order for a trader.

The God has given us fingers to click the mouse button,so for the time being we have to depend on that and keep trailing manually.

To define what is Trailing stoploss - It is stoploss order where it is mentioned in the order to automatically update itself in the direction of trade but not in reverse direction. Eg. Order mentioning "trail by 10 rs from current price".. will place the first SL order at 101 when stock is 111. As stock moves to 115, the SL will be automatically updated by system to 105 without any manual intervention. If stock fall to 113, SL will still be at 105.. when price goes up to 118, SL goes up to 108.. At some stage, the stop will be hit or order will be canceled by user.

Happy Trading.

Thank you very much for the useful reply.I was asking about this system only you have mentionrd,wherein th SL gets automatically updated in the drectio of the trade.I use Geojit ODIN online terminal.Any idea,how such an order can be placed on ODIN?Thanks again-- Happy Trading!

 

[AW10]

Sorry, I have no idea about how to do this on ODIN. To the best of my knowledge, no indian broker supports this feature.. Their systems are not smart enough to auto submit stop loss orders to trail the mkt price.
Best will be check with your broker directly.

 

[toingpoing]

Thanks again for the reply!Good Luck!

 

[AW10]

There are brokers like interactive broker who provide 35+ types of order..
Thats what Pro Trader use.. and forex mkt is dominated by serious players who need those types of orders.
Our brokes have long way to go.. I think they will not improve until international brokers start providing connectivity to NSE.