Hello,
I am a novice trader and after studying for some time, I have come to realize that 'bracket orders' are the life blood of intraday traders and scalpers.
I have opened an account with IB for the sole reason, that they are the only brokers offering bracket orders in India, but their service it below par - having raised my query through their ticket system, I have not received any reply for more than 30 hours.
I am trying to put in a trade as follows: -
XYZ is trading at Rs. 50 and I want to short 100 shares only if the price falls to Rs. 49 - my initial stop loss will be Rs.51. My target is Rs.45 - since their system allows a trailing stop - I want to set a trailing stop loss at 5% of the gain.
I am not sure if this will done through a bracket order or just limit entry with trailing stop - any help will be highly appreciated.
Cheerios,
I am a novice trader and after studying for some time, I have come to realize that 'bracket orders' are the life blood of intraday traders and scalpers.
I have opened an account with IB for the sole reason, that they are the only brokers offering bracket orders in India, but their service it below par - having raised my query through their ticket system, I have not received any reply for more than 30 hours.
I am trying to put in a trade as follows: -
XYZ is trading at Rs. 50 and I want to short 100 shares only if the price falls to Rs. 49 - my initial stop loss will be Rs.51. My target is Rs.45 - since their system allows a trailing stop - I want to set a trailing stop loss at 5% of the gain.
I am not sure if this will done through a bracket order or just limit entry with trailing stop - any help will be highly appreciated.
Cheerios,