Comment on Stop Loss orders - Limit/Market

Shikha Gupta commented on 22 Jun 2016, 10:54 PM

Hi Venu,

Let me one more time clear the things. I want to understand the below things, these all things are related to first order no subsequent orders.
1. When I place a normal limit order there is nothing like trigger price or kind of automated SL. Right?
2. When I place SL-L order the entry price I can put the limit price with trigger for stop loss which will be a limit order for stop loss (As Nitin has already cleared that putting the SL-L order is more dangerous since there is no guarantee for stop loss order execution when price in not moving to my stop loss price). Is that right?
3. Next situation is that I am putting a SL-M order, in this order the first price will be a market price (or it can be a limit price also, Nitin said that it will be a obvious market price), now with SL-M order I have to mention a trigger price & when the share price is triggered that price my trigger price order will automatically gets activated & my position will be closed with best available market price at that time with market order. Is that also right?

Now what I was looking at that is there any way in situation 3 that I can place the SL-M with limit price or both the entry price will be market order price. In this situation I will not have any control on buy price & also sell price, which creates much problems with me with problems already mentioned in earlier post.

So do we have any solution on this from Zerodha or we will have to be with that only. May be still you are not properly understood my issue do let me know.

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