Confusion about trailing stop loss and book profit

#1
Hello Traders,
I am new to this trading game and got confused while doing an Intraday trade today from kotak security

So I placed an order of 20 shares of ICICIGI at 804.60. Set the Trailing Stop Loss (Sell) by adding spread of 7.00 trailing at Market. Then I put 818.00 in book profit input box and placed the BUY order.
It got executed immediately and also a sell order at 818.00 of 20 shares is executed, both were showing in open order.

When I saw the order book again after 10 minutes, my sell order was executed at 807.50 automatically.
I got confused at this stage and didn't understand why the order is executed at 807.50 when it should be executed at 818.00 ? Later the price went upto 840.
I am missing something ? Sorry guys, I am just new.
 
#2
Different brokers use different softwares. There are Pros and Cons.

Call Kotak Customer Care / RM for better Answer.

One question .. Was that Bracket Order with Trailing Stop Loss..?

Regards
 

newtrader101

Well-Known Member
#4
Hello Traders,
.... I placed an order of 20 shares of ICICIGI at 804.60. Set the Trailing Stop Loss (Sell) by adding spread of 7.00 trailing at Market. Then I put 818.00 in book profit input box and placed the BUY order.....
When I saw the order book again after 10 minutes, my sell order was executed at 807.50 automatically...
Your order price: 804.60
Trailing Stop Loss (Sell) by spread =7.00 trailing at Market.
Sell Trigger price=804.60 - 7 =796.40. (When price falls to this level, your order square off triggers.)
book profit 818.00

Assuming you set the price to start trailing at order price, lets look at the highs and the lows.

High 1 (after buy): 809.80, TSL moved to 809.8-7=802.80.
But next low=800. Stop loss triggered when price reached 802.8 during this fall.
You got the next better exit.

upload_2018-1-31_10-57-6.png
 
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