India VIX at the time of writing this email is 10.65. This is considered a normal market condition. Which means it will be tough to predict where the markets will go.
So what can you do?
1. Research
2. Plan a trade
3. Decide where you will take a stop loss (this depends on how much loss you are willing to take).
4. Decide where you will make a profit. Ideally, your profit should be double your stop loss.
5. Take the trade.
6. Once it’s confirmed set the GTT (Good Till Cancelled) in the system and forget.
GTT is a feature that allows a trader to set a stop loss and profit in the system. So suppose you bought an option at 100. You can set the stop loss at 95 and the profit at 110. The GTT system will automatically trigger your profit or stop loss whichever is hit earlier, and cancel the other GTT order. This is called OCO – One Cancels the Other.
GTT stays in the system for one year or till the order is hit or till the expiry of the options/futures or cancelled by the user – whichever comes earlier.
Suppose 110 is hit – the system will close the stop loss order of 95 GTT automatically. And if 95 is hit, then the system will close the profit target order of 110 GTT automatically.
This broker gives GTT features free of cost. Plus it does not even charge on stock buying and selling.
More articles on India VIX:
Nifty And India VIX Are Inversely Proportional
How India VIX Is Calculated and What to Expect After Seeing High or Low India VIX
Low India VIX Indicates Not Much Move in the Stock Market
India VIX over 17 What It Means
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