Hi! I want to learn how to put long term stop loss for scripts which are already there in my holdings. Both for Web version and Mobile App. I believe GTT order can do the trick but it asks for target and buying price also. Please help.
U shouldn’t place any SL for long term investment cuz SL is only for short term & quick traders where there is 99.9% chance of losing money .
Hope it helps
Thank you for your suggestion.
Please note that we are releasing the feature this month on Android where you can select either target or stop-loss or both and also place GTT on existing position or holding.
Hi @Miku_megabytis -
I agree that you shouldn’t always rely on a stop loss for long-term holdings as “guaranteed protection” (especially very long-term holdings). A lot can happen over time including:
- the security can move up dramatically and if the SL is price based, your % threshold of loss will get larger
- you could end up selling when just holding over time may be the better answer
- the price could gap down past your SL and you get a fill that is lower than what you set.
Overall, there should always be some consideration for risk management whether it is a stop loss, alert, OTM put option, or simple diversification.
This is for a particular stock of mine which if it breaks a particular support, is likely to go highly bearish.
This is for a particular stock which if it breaks a particular support, is likely to go very bearish.