Comment on Stop Loss orders - Limit/Market

ethicaldeal commented on 06 Nov 2013, 09:17 PM

Dear Zerodha

I want to use a strategy for intraday stocks trading and also index futures. As part of that strategy I need to have a Long position and Short Sell position placed simultaneously. An eg. is such I want to Buy (Long) stock X at 100, I want to sell the X at 101, but want to save myself from loss in case the stock goes down after BUY is executed, so I want to put a Stop Loss.

Also, simualtaneously I want the Short Sell also to be placed (means short sell if X hits 90, I want to buy to cover at 89 but want to save myself from loss in case the stock goes up after SHORT SELL is executed, so I want to put a Stop Loss

How can this be done:

Kindly explain in steps one by one (means 1. first place a buy order with SL-M, 2. after Buy order is executed then…… etc, etc..)

Regards
EthicalDeal

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