Hi guys I am new to trading and want to place online stop-loss order in AxisDirect e.g. I am buying shares of X company at limit price of 100 rs and want to put stop-loss at 95 rs how can I do that, I tried everything but there is no option to put stop-loss price in buy or sell page I can only put trigger price.
Trigger price should be higher in Buy order and Lower in Sell order, How can I put stop-loss higher than my limit price in buy order it must be Harakiri, I want it to go up indefinitely don't want to define my profit in buy order. Please explain trigger price which website is saying is stop-loss price.
Thank you Alchemist for your help, now I understood to place buy stop-loss order for intraday. Can you tell me what to do for short sell order e.g. I am short-selling current price is 110 I want to put stop-loss at 115?
There is one more option of cover trade in this you have to buy at market price and have to put trigger and limit price in sell column all in one page, can you tell me which price to put in trigger and which to limit?
Thank you Alchemist for your help, now I understood to place buy stop-loss order for intraday. Can you tell me what to do for short sell order e.g. I am short-selling current price is 110 I want to put stop-loss at 115?
There is one more option of cover trade in this you have to buy at market price and have to put trigger and limit price in sell column all in one page, can you tell me which price to put in trigger and which to limit?
1. If you sell a stock at 110 and want to put a stop-loss at 115, this is how your order should be:
Buy at 116, trigger price 115.
If the price touches or goes above 115, the buy order will become active.
2. An order can either be a limit order or a market order, but not both.
A market order is actually a "no limit" order.
A market order can have a trigger price too.
e.g.
Buy at market, trigger price 115.
If the price touches or goes above 115, the buy order will become active and will be immediately executed at best price available in the market.
I have never seen Axisdirect's interface. Are you sure the market order page has a limit field too?
Try giving a limit price for a market order and see what happens.
When I try to give a limit price for a market order on ICICIDirect.com, I get this error message:
Buy GTL - Trigger price 99 and limit buy order 100.
Sell GTL - Market order with trigger price 90. In other words, once the LTP reaches 90 a market sell order occurs?
Never mind. I got the answer while browsing through an earlier thread. It says (well, at least I deciphered) that market sell orders are not possible in the Indian markets.
The main benefit of cover order is you can get up to 20 times limit vis a vis Intraday's 4 times. In axisdirect limit price field is greyed out (you can not put anything in it) for market orders except cover trade.
Never mind. I got the answer while browsing through an earlier thread. It says (well, at least I deciphered) that market sell orders are not possible in the Indian markets.
The stop loss orders can be either a market order or a limit price order. For buy SL orders, the trigger price has to be less than or equal to the limit price. Similarly, for sell SL orders, the trigger price has to be greater than or equal to the limit price.
Sell GTL - Market order with trigger price 90. In other words, once the LTP reaches 90 a market sell order occurs?
Although i have never tried it myself,I think it will have much lesser chances of getting executed. Supposing there were 3 buy-order totalling 100 shares at price of 90. As soon as someone placed a sell order for 150 shares at 89.75, your stop loss market order would convert into a limit order at 90( or may be 89.9 if there is some finite delay) as soon as 1 share gets traded at 90. Worse would be if it gets placed at much lower value after a big sell order gets completed, not sure about the time lag though.
Stop Loss order can be market order( I had it not good experience though), on 1/7/2011 I bought CBI( central bank) for 128rs and placed stop loss order at market and trigger price at 125rs so when I again looked at my order around 1 p.m. stop loss triggered and my shares were sold for 124.50rs.
Guys can you tell me something about Cover Order...still waiting for replay.
Cover order simply incorporates a stop-loss order within it as well, while taking any intraday position. May be the following link makes it clear enough.
1. If you sell a stock at 110 and want to put a stop-loss at 115, this is how your order should be:
Buy at 116, trigger price 115.
If the price touches or goes above 115, the buy order will become active.
[b]
I think stop-loss order only gets activated when a trade gets executed exactly at the trigger price. So in the case of illiquid stocks where the trigger price may just get skipped preventing the stop-loss from getting triggered, I would suggest a small variation. Of course, it applies to intraday trading in equities only.
In relation to the example, one can place a normal sell order for one share at 115 i.e.trigger price, and then a stop-loss buy order at 116 adding that one share to the total shares to be bought.This way one can be sure the trigger price cannot get skipped.
I think stop-loss order only gets activated when a trade gets executed exactly at the trigger price.
No, that's not the case.
For a stop-loss sell order, the system just checks if the last traded price is less than or equal to the trigger price.
For a stop-loss buy order, the system just checks if the last traded price is more than or equal to the trigger price.
Quote:
E.g. If for stop loss buy order, the trigger is 93.00, the limit price is 95.00 and the market (last traded) price is 90.00, then this order is released into the system once the market price reaches or exceeds 93.00. This order is added to the regular lot book with time of triggering as the time stamp, as a limit order of 95.00.
Stop-loss in Axisdirect
Linear Mode
