@Aayushjha8 Momentum strategy works differently. We look for stocks that are showing momentum and invest. If they run out of steam, we exit.
Therefore, to answer your questions.
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There is no concept like stop loss. We exit when the stock has lost momentum (relatively compared at other stocks in the investing universe).
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Again, momentum investing works differently. We aim to buy high and sell higher. More importantly, we don’t go on stock basis, but review our portfolio every week (or fortnight or month). Exit stocks that have lost momentum and enter ones that are showing.