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How do I use advanced order types in my trading strategy?

 

Using advanced order types can greatly enhance your trading strategy by offering more control over trade execution and risk management. Some common advanced orders include stop-loss, trailing stop, and One Cancels Other (OCO) orders. These tools help you automate decisions and manage risk effectively. For example, a stop-loss order helps limit potential losses by selling your asset once it hits a specified price. Trailing stop orders adjust with market movement, locking in profits while limiting downside risk.

 

Incorporating advanced trading techniques, such as using OCO orders, allows you to simultaneously set profit targets and stop losses, automating both actions in a single strategy. Bajaj Broking provides access to these advanced tools, helping you optimise your trading strategies and react efficiently to market changes.

 

Also read: Stop Loss Trigger Price: What is it and How it Works | Bajaj Broking