Comment on Orders - Place, Modify, Cancel & View

Shekhar commented on 07 Jul 2016, 04:12 PM

Hi Nithin,

I was reading a blog on Stop-Loss orders on Zerodha. I usually trade through KITE. I am little bit confused and I have following queries:

1. For Stop-Loss Limit (Sell) order, the Trigger Price have to always be LESS than the Current Market Price ? Irrespective of the scenario whether the position is running in profit or loss.

2. For Stop-Loss Limit (Buy) order, the Trigger Price have to always be HIGHER than the Current Market Price ?
Irrespective of the scenario whether the position is running in profit or loss.

3. If I place any of the Stop-Loss Limit (Sell/Buy) order depending upon my position and let say my stop-loss is triggered and position get squared-off at the limit price. So, If I understood correctly then the Stop-Loss Order at Limit Price is executed and there won’t be any pending order after that and the trigger-price order will get automatically rejected/cancelled by the system. ? OR Do I still have to manually cancel the Trigger-price order even after the position is squared-off on the limit-price of Stop-Loss Order?

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