Comment on Cover Orders - For Higher Leverage

Nithin Kamath commented on 07 Mar 2013, 08:52 AM

Sandip, if you are having trouble shoot your query to [email protected], will get someone to call you back and run you through this. But let me run through whatever little I have understood.

1. Enter a position: Stock is trading at 100, you can buy this either using limit order, market order or SL order.

Once you have taken this position, you want to place a SL order and an exit order For this

2. Place a new selling SL order with trigger price that you wish.

3. Place a limit sell order with target price.

To change order 2 and 3, go to order book(f3).

If I am understanding your query right, the mistake you are doing is:

When you enter position using SL order, once the stock is bought/sold, you have to place another new SL order for stop loss. The first SL that you used to enter a position is already executed and hence there is no way you can modify. The second SL order that you put can be modified by using the trigger..

Hope this clarifies..

Cheers..

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