Can i preserve the profits on my position?

General
1

Hi Guys,

Is there are type of order by which i can hold my position which is profits till the time the threshold of my profitability level is maintained.

Let me try to put in simple terms.

I have took a sell position in Nifty Fut @ 10700

after 2 days i see that the Nifty Futures is trading @ 10500

Know i still think that Nifty would further slip down. But at the same time i dont want to risk the profits that i am seeing currently on my position.

Suppose i say that i will hold this position till be time Nifty is below 10600. The moment it hits 10600, i would would like to square off at market price.

If i can just give it a logical name by using the concept of Stop Loss, it would be like ‘Book Profit’

Please suggest or correct if i am thinking wrong.

2

Hey @Vikas_Pawar

Yes, you can certainly do this, you can use either Stop loss orders or limit orders to do it.

However, you won’t be able to automate it. You will have to manually place the orders.

You can do this by placing a buy Stop loss market order with the trigger as 10600.

3

Thanks Kshiteesh,

If the current price is at 10600 and if i place a buy order at 10700, i am afraid if it gets executed immediately.

Any idea ?