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..


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