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Online Share Trading

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Stop losses

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Vergil
New Contributor
When it comes to taking a stop loss when is it done, does one look at the closing price of the share or stopping out at the time the stop loss was triggered?
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10 REPLIES 10
Ninja
Super Contributor
Depends, if you trading day trading it is on the close, if intraday it is on the close of your specified time period candle. (Eg: 5min)
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Rams
Super Contributor
Cant answer because your question not clear.Do you want to know where to place stop loss or which price triggers stop loss
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Vergil
New Contributor
I know at which price to set the stop loss, the question was when to take it. I'm not intra-day trading so would it be be at the close of the day to stop out or as soon as I received the alert. Think Ninja's reply was what I wanted to know.
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Terra
Super Contributor
You've got 2 choices... Immediately or at close... the problem with closing price is that it might be much lower than your stop, or worse higher than your stop. Why worse, because the next time you gonna ignore your stop again, and HOPE than it will bounce again. The good thing about an immediate stop is that you are FREE, and can start focussing on your next trade.... Your choice...
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Galuc
Super Contributor
If I have learnt nothing else about trading, this is one rule I do not waver from, if a stop loss is triggered I sell. Don't get me wrong 80% of the time it bounces back, but it is the 20% that count! And anyway like terra says u live to fight another day
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suki
Super Contributor
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SimonPB
Valued Contributor
tx suki ..
Tonight at 9pm .. Test webinar .. Trading: Placing a stop loss .. http://awe.sm/5Gsac
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Rams
Super Contributor
Agree with Terra,do not think about whether you should be taking the stop. No alerts, when the price triggerred, you should be stopped out immediately - let the market take you out...
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suki
Super Contributor
Thank you Simon. i was online.
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Rams
Super Contributor
Me too,worked well.Was great Simon.
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