Hi,
I am new trader. I understood stop loss concept with respect to either buy/sell as first step and then using stop loss order to decrease the loss.
I was trying to use your concept for below example but got confused
BUY ABOVE 352.00 WITH SL @ 351.00 TARGET 353.50 / 354.50
As a beginner, my question is why will I buy above 352 which is high ? Keep the SL @ 320 or less so I can buy at low cost?
Could you explain this concept of SL with the above example?
Similarly this one:
SHORT@OR BELOW 289 SL 292 TRG 288, 286,282
Thanks in Advance.
I am new trader. I understood stop loss concept with respect to either buy/sell as first step and then using stop loss order to decrease the loss.
I was trying to use your concept for below example but got confused
BUY ABOVE 352.00 WITH SL @ 351.00 TARGET 353.50 / 354.50
As a beginner, my question is why will I buy above 352 which is high ? Keep the SL @ 320 or less so I can buy at low cost?
Could you explain this concept of SL with the above example?
Similarly this one:
SHORT@OR BELOW 289 SL 292 TRG 288, 286,282
Thanks in Advance.