Hi folks,
I am absolutely new to trading and use HDFC SEC. I see options there while buying called SL (Stop loss), what exactly is is RL? (Help online says it is all books apart from Stop loss).
Also, when I select SL, and limit price, it gives me the option of price to buy (I can specify the price I want to buy a stock at) and also trigger price. Trigger price option is also available during selling. I want to know what trigger price is and how I can use it. It is it same as stop loss price?
For example, say a stock is trading at 149, and I want to buy 100 shares, for 148, I put a limit price (in contrast to market price). How do I use Trigger price? Both while buying and selling to minimize my losses.
Hope I am clear and forgive me for the noob nature of the question.
I am absolutely new to trading and use HDFC SEC. I see options there while buying called SL (Stop loss), what exactly is is RL? (Help online says it is all books apart from Stop loss).
Also, when I select SL, and limit price, it gives me the option of price to buy (I can specify the price I want to buy a stock at) and also trigger price. Trigger price option is also available during selling. I want to know what trigger price is and how I can use it. It is it same as stop loss price?
For example, say a stock is trading at 149, and I want to buy 100 shares, for 148, I put a limit price (in contrast to market price). How do I use Trigger price? Both while buying and selling to minimize my losses.
Hope I am clear and forgive me for the noob nature of the question.
