Hello,
Is it possible to use two simultaneous stop losses for a given trade?
Stop Loss 1: Normal Stop Loss as per the System we are trading
Stop Loss 2: Guaranteed Stop Loss for Contingency Purposes.
Example: Consider trades being taken based on some System X.
S/L is a fixed pip of say 20 pips.
In addition to this can we have a additional contingency stop loss for Black Swan Events where price moves 100's pips within an instant.
In the above trade, say we use a guaranteed stop loss at 300 pips away as the chances of the normal S/L being filled is suspect.
Can we use both and if not is there a work around.
Thanks
Is it possible to use two simultaneous stop losses for a given trade?
Stop Loss 1: Normal Stop Loss as per the System we are trading
Stop Loss 2: Guaranteed Stop Loss for Contingency Purposes.
Example: Consider trades being taken based on some System X.
S/L is a fixed pip of say 20 pips.
In addition to this can we have a additional contingency stop loss for Black Swan Events where price moves 100's pips within an instant.
In the above trade, say we use a guaranteed stop loss at 300 pips away as the chances of the normal S/L being filled is suspect.
Can we use both and if not is there a work around.
Thanks