I read a post on the same topic but wanted a clarity.
Ex - i bought 1 lot of Feb Nifty Future in SL with Price & Trigger Price (regular NRML) for a positional trade.
i have read from other traders that every day morning they adjust their stop loss in kite based on the market decisions.
Question - how is this adjustment done? is it by pressing exit and in AMO mode - i adjust the trigger price? is there no way to put a trailing stop loss?
or is it a mental stop loss?
excuse the questions - i am a novice trader in futures…learning the ropes
Stop Loss orders can’t be carried overnight. A SL order that is still pending will get cancelled once market closes. You have to place a fresh SL order the next morning when market opens. I have never tried to place a AMO SL order for a Future, so I am not aware of its possibility. Someone who has tried AMO SL Future order can clarify/comment.
could you let me know as to how place the fresh SL order? do i click on the exit button in the futures i am holding and enter the trigger price?
If you are trading on kite, assuming you are holding a long future, when you press exit, a Sell order window will open up, you can then select the SL type button and punch in the order parameters and submit. This way you can place a fresh SL order each morning against your open position. If you have never placed a SL order on kite before then please do take a look at the kite user manual to understand the parameters.