Last time had posted a trade on TV 18 at 34-35 and got a quick 10% touching the target , post that the stock collapsed to 24. This is where trailing stoploss helps you.
Now the stock is again forming a triangle with a quick target of 32 and even 35-38.
Now the biggest problem with traders is a trading plan. This is how we generally tend to follow step by step. Everyone may have a different way to trade but a stoploss is a must in any trade.
-> Buy at 28 round abouts or in momentum above 28.5 ( Disclosure : recommended long today pre-emptive )
-> Keep a stoploss at 27.2. If breaks exit.
-> Stock moves to 31-32 book profits to the extent of half or 3/4th of your holding and take trailing stoploss to 28.5-29.
-> If stock moves to 35 take stop to 32 and ride till 38 or book fully.
-> Exit only if trailing stops at 28.5-29 or 32 breaks.
Also one need not be rigid on targets but be ready to adapt to the market conditions and take a call to book profits in between or according to the risk management plan.
The above steps is just a quick note. There is more thought which goes into every trade but above example can be a help to new traders.
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