Comment on Stop Loss orders - Limit/Market

Nithin Kamath commented on 06 Mar 2014, 07:41 PM

Todd,

Once you have bought at 1487, if you want to exit this at a higher price, you need to use a sell order and not a SL order. So in the example when it was 1495, you just need to place another limit selling order for 1500.

SL/SL-M orders are used to limit losses, so for example if at 1495, you want to make sure that if the price comes down to 1490 you want to exit, place SL-M with a trigger price of 1490. If you place SL in such a case with a higher trigger price which I guess you have done, it will automatically become a limit selling order with the trigger as the limit price.

It doesn’t matter if you enter a position using limit/market, you can exit it either using Limit/Market/SL.

Hopefully this clarifies.

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