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How to set a Stop Profit limit

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Not applicable
Hi Guys I have managed to set a stop loss on Richemont, but how do I set a stop profit for lets say 2% above the ruling price. I would value any assiatanve that you may provide. Kind Regards. JA
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14 REPLIES 14
Not applicable
Sorry thats assistance (not assiatanve - Spelling!!!)
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leminus2
Regular Contributor
You would just put in an order to sell at a certain price?
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Galuc
Super Contributor
Stop profit now there is one for the books!
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Not applicable
Hahahahahahah, sorry almost fell of my chair. I think you are in the wrong business.
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Not applicable
Hi Snakepit - I think you may find that if you knew me, you might have a different opinion. Its Friday afternoon why are you not on the golf course. Why laugh at the use of an incorrect term, when there has been several members who have kindly 'donated' a minute of there time to educate a new user.
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SimonPB
Valued Contributor
a stop profit is a perfectly legamit concept, also called a conditional order .. youu can hack the stop loss system by placing the trigger price above the current ruling ..
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3JN2
Frequent Contributor
Look at Trailing Stop Loss "Triggers when a variable price level is crossed. The variable trigger price trails the products ruling price by a fixed amount or percentage". It's an option when selecting stop loss.
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warhippo
Super Contributor
Hi Johnny - I don't know very much about trading, but Richemont is a share you can keep in your long term portfolio for the kids - again depending on your personal needs. Good Luck!
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The_Jackal
Occasional Visitor
New user signing in. Play nice chaps!
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Rams
Super Contributor
Good idea Johnny aa because you have planned your entry and exit.Dont worry about Snake, his words are stronger than his bite...
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Not applicable
Many Thanks to all who have contributed to my education - This is a learning curve - Albeit sometimes an expensive one. Regards JA
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Not applicable
Okay, okay apology. I am not laughing at the concept. I am laughing at the name! Stop-Profit in a business that is all about making as much profit as possible? I think they call this something like an oxy-moron or something like that. I speak under correction.
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Rams
Super Contributor
Sometimes less is more, especially in this business.Anyway why are up so late in the night?
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Not applicable
Research. The financial world never sleeps, just the people in it.
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