This was a very interesting video and I enjoyed it very much. One question that I have is how to set a stop order especially when your position is trending away huge from your original purchase price. What makes more sense a trailing stop loss, tight 2% stop loss, or no stop loss?
I think a trailing stop would be the best in this case, though a much tighter one. You could use some other methods to determine the closest supports and then place a stop loss just below a reasonably strong support. A 2% stop loss is too tight and will be hit almost immediately. No stop loss is a very dangerous thing and could get you out on the footpath too. A STOP LOSS IS A MUST. And sorry for the delay in replying to your comment.
This was a very interesting video and I enjoyed it very much. One question that I have is how to set a stop order especially when your position is trending away huge from your original purchase price. What makes more sense a trailing stop loss, tight 2% stop loss, or no stop loss?
lefsepowered 3 years ago
I think a trailing stop would be the best in this case, though a much tighter one. You could use some other methods to determine the closest supports and then place a stop loss just below a reasonably strong support. A 2% stop loss is too tight and will be hit almost immediately. No stop loss is a very dangerous thing and could get you out on the footpath too. A STOP LOSS IS A MUST. And sorry for the delay in replying to your comment.
ssplvikas 3 years ago
Thanks!
vikashuconnsharma 3 years ago
Good one Vikash. What software did you use to show the moving averages?
vikashuconnsharma 3 years ago
Hi Vikas, for the recording I used Tipcam and for the charts I used metastock.
vikasthegreat00 3 years ago