Is there a way to set a stop loss that’s good during market hours as well as pre-market and after-market?
Asked 4 years ago
Is it possible to do something like this? That way, it would save time and prevent me from being up at ridiculous hours to catch the market and set the stop losses.
Arthur Nwosu
Friday, July 02, 2021
it depends on the market you are trading though. like forex for instance, you could set limit orders and stop orders. to explain in detail, say you are expecting a bullish move from a price level in a rather bearish market, you could set a buy limit order, when the market gets to this level, it triggers your order and puts you in profit should price change direction and start moving higher. this also gives you the option of setting stop losses as well.
stop orders work fairly the same way. the only difference is you set say a buy stop when you are expecting more bullish move from a price point in an already bullish market . you could also set exit levels as well , just in case you are not in the position to monitor your trades
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