Comment on Stop Loss orders - Limit/Market

AnantK commented on 21 Aug 2013, 05:48 PM

Hello,
Please let me know if the following is correct –
Intent – For intraday trading in F&O, I want to purchase 1 lot (size 1000) at 300 and sell at 305. CMP is 298.
I put the following order –
1. In a Buy order, Use SL-M.
2. Enter the Price as 300 and Trigger Price as 295 (my SL)
3. The order gets executed 5 mins after placing it.
4. I monitor the price and at price 304, I feel that the price may shoot up to 310
5. I go to the order book and edit the order
6. I now enter the Trigger Price as 303
Is this the correct way of entering trailing SL manually? Will my position be squared successfully if the price falls below or at 303?
Thanks!

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