Some help here please...... My stop loss did for IMP triggered yesterday

[Electrox]

but my order never went through(talk about having an exit stradegy...how does one do this if orders dont go through). Yesterday was a good oppertunity to get out of Plat stocks if you were short.. as in my case. Now all plat stock are flying high again and im left in a difficult situation here. Does anyone feel prices are too high and are sure to come down again or are we set to rocket up even more since IMP and some others results are out in a week.(also the fact that plat prices dont stop going UP!!)

[SimonPB]

order hits the market, but buyers (or sellers if short) may be at a lower/higher price.

[Electrox]

I know that Simon, but i need advice on what to do now that my position is against me. by the way it would be better if we could place two stop losses to limit our losses if the first stop is not met buy buyers sellers at that price.. Why cant a secondary stop be placed once the first one has triggerd?

[asylum]

Hi Electrox dont feel bad im still short on imp, i think you can set a trading price for your stop loss if memory serves me.As for plat prices yep taking big hidding here.

[SimonPB]

sorry Electrox, my post was incomplete. When you set a stop loss you set a trigger price at which we will send the order to market. We also then have a second elvel whoch is the lowest (or highest if short SSF) that we can trade at. So this gives you some extra wiggle room. Example, if long. Set stop at say R200 and lowest price acceptable at R198. So a trade at or below R200 would trigger the stop order and we would send it to market selling as low at R198 (higher if there is a higher price before you in the market).

[Electrox]

I see Simon. so lets say im short in @ 300. stop is at 285 with a leaway to 280. Now lets say the prices slices right down to 275, It triggers my stop of 285. Does that mean that if prices goes back up to 275, that is the price at which the market order will go thru?

[SimonPB]

if you are short at 300 and your stop is at 285, the stop would trigger above 285 (because you are short), and if you gave leeway to say 290 we would trigger at 285 and trade as high (high because you are short) up to 290.

[Electrox]

sori my post was eant to say long at 300. THANKS simon i understand now.