What options do I have when my CFD triggered but dropped through my minimum price? Will it sell when the share rebounds? Do I have an opportunity to cancel at this stage? Contemplating the old mistake of rather averaging down...
Hi Simon - Sort of expected that response and appreciated, but what if it now starts going up from a lower level at quite a good rate and I don't want to sell on the up? Surely if one misses a stop on the downside it could be somewhat stupid to have the old, triggered, sale when the price starts rising again?
Definition of 'Stop-Loss Order' An order placed with a broker to sell a security when it reaches a certain price. A stop-loss order is designed to limit an investor's loss on a security position. Read more: http://www.investopedia.com/terms/s/stop-lossorder.asp#ixzz1oKfXwbCl Rule number 1 from Garth McKenzie 1. Failure to cut losses: Pride, ego, or stubbornness prevents the trader from selling.
BAP - you traded a specific strategy - it went against you, so get out. If the stock moves back up again - well that becomes a separate trade - nothing stopping you from buying again, providing it fits into your trading strategy is all
I agree, get out of the trade. I put in a very wide limit price from the trigger price, so when the market goes thru the trigger, the the wider limit price will stop me out, so no thinking required or manual input required.