Comment on Stop Loss orders - Limit/Market

pramod commented on 01 Dec 2013, 01:35 AM

dear sir, have read above posts and am still in need of some help – trading in equities only.

have just started to trade on sbicapsec, in stop loss order form there is no option for market or limit so i assume that it has to be limit??

would the following be a correct way to enter trade for a long position, add SL, trail and exit.

1. ENTER – Can one enter with a stoploss?

eg. LTP – 100. i want to enter when it drops close to 98. target is 102.

i place ORDER 1 – BUY SL with limit price at 98 and trigger 98.25

correct?

or do i just place a limit order for 98?

what should be the difference between the trigger and actual price to make sure trade goes through?

—- once the above trade is executed – —

2. ADD SELL STOP LOSS – i place ORDER 2

trigger price 96 limit price 95.75

correct?

3. TRAIL SL – if price moves up i trail up my SL ?

—–once target achieved—-

4. i place ORDER 3 – SELL at limit or market price?

would the above be correct for long positions?

for GOING SHORT – LTP – 100

ORDER 1. – SELL SL- L 102, TRIGGER – 101.75 (or just place a SELL limit order)

—above order executed—

ORDER 2. – BUY SL- L 103.50 TRIGGER 103.25

trail SL if price moves down

—target achieved—-

ORDER 3. – BUY at market or limit price?

would the above steps be correct???

would ORDER 3 be the square off page?

can order 2 and 3 and trailing SL be on the square off page itself????

pramod

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