Confusion while trading thru HDFC trading platform?

#1
hi,

i am new to trading and my question can look t u little silly, but seriously i don,t know about it.

when i buy share, how can i buy share using Stoploss?

suppose i put stoploss on maruti for 1200, if on that it does not go to 1200,
then do i have to again another day put stoploss of 1200 again, or it will continue for days until it comes to that price.

also,

if i want to do intraday trading , then which option should i opt for buying, whether IOC or DAY or SES.

cant figure out HDFC sec ?

plz help.


thaks in advance
 
Last edited:

yusi

Well-Known Member
#2
Buying using stop loss:

If you wish to buy Maruti if and only if it goes above 1200, then you would enter the book type as SL, trigger price as 1200.05, price as 1202 (for example). Here, the buy would get executed at a max price of 1202 and if other stop loss requirements are met.

Stop loss orders have a max lifetime for the day and automatically cancelled if not executed. They do not get carried to the next day; this applies to all orders.

You should use Day (for NSE) or Session (for BSE) for the order. IOC (Immediate or Cancel) causes your order to be executed immediately whether it be SL or RL, and if that cannot be done it is cancelled.

The order duration has little relevance to intraday or delivery trading as the max duration of orders is the current day. For intraday trade, the more relevant option is Product (CnC or Margin).
 
#3
Hi yusi,
Is there any changes in HDFC now, as i can't "SL" order type in my HDFC AC?
Will you please let me know if you can.
Thanks
 

yusi

Well-Known Member
#4
Hi yusi,
Is there any changes in HDFC now, as i can't "SL" order type in my HDFC AC?
Will you please let me know if you can.
Thanks
I have not used my HDFC account for active trading for a long time. But yes, about a year back, they updated their web trading software and the interface has changed considerably. So the post that you refer to may not match your HDFC interface.

Now, there are only two Order Types available: Limit and Market. When you choose Limit, two price fields (Price and Trig Price) are available. If you just enter the Price, it is a standard limit order. If you enter both Price and Trig Price, it is a stop-loss order. Also, observe that when you choose Market, the Price field is no more available (it displays as MKT).

So, to place a stop-loss buy order of Maruti above 1200 (hah!, but continuing with the above example), you would select the Order Type as Limit, enter Trig Price as 1200.05, and Price as 1202.00.

Similarly, to sell Maruti if it falls below 1200, you would create a Sell order, enter trigger price as 1999.95, and price as 1998, for example.

It being Sunday and the market closed, I cannot post sample screenshots. Actually, it is much easier to learn by placing a few dummy orders. Choose a low value scrip, quantity as 1, and prices that are 5 to 10% away from the current price. Thus your order will not get executed (and minimal harm is done if it is).
 
#5
Hi. Yusi. Well I wanted to thank you for your use of good English.
I mean the language I find here on traderji, sometimes, I can't understand what the guy wants to talk about. Anyways, a good share about the orders.
 

yusi

Well-Known Member
#6
Hi. Yusi. Well I wanted to thank you for your use of good English.
I mean the language I find here on traderji, sometimes, I can't understand what the guy wants to talk about. Anyways, a good share about the orders.
One man's inglish is another man's b-u-t / p-u-t. ;)

But the old thumb rule is: if you pick up a magazine on a subject, and can make some sense of 20% of it, you have a fair knowledge and good to go. If more than 33% can be put in perspective, you've arrived. This does not apply to film and cricket magazines (the percentages are lower).
 
#7
Hi Sir

I have just started trading via HDFC Secs.

When i place an offline order, i am not able to view it in my order book during off the market hours. Of course, i am able to view it, moment the market opens.

But i am unable to view the details of offline orders placed in the order book during off the market hours. Can you help me?

Regards,
Krishna
 

mohan.sic

Well-Known Member
#8
Hi Sir

I have just started trading via HDFC Secs.

When i place an offline order, i am not able to view it in my order book during off the market hours. Of course, i am able to view it, moment the market opens.

But i am unable to view the details of offline orders placed in the order book during off the market hours. Can you help me?

Regards,
Krishna
If you place a normal day order it will be cancelled after market and you can never see it again. if you place a good till cancel order ( GTC ) - it will be cancelled after market and next day after market opens the same order will be placed by the application and the same repeats till the order is executed or for certain period as designed.

No order will be valid after market. All pending orders will be cancelled after market. Good till cancel does not mean that order will remain after market.
It is a feature given by trading members where their application will place the same order every morning.

So you cant see the pending order after market ( as it is cancelled ) and you will see it in market period ( as a new order is placed at market open )
 
Last edited:
#9
Hi,

In relation to the above discussion my query is why do we get a DAY option when we choose NSE and an SES option when we choose BSE? Is there a difference in what they mean too?

Thanks!
 

Similar threads