Ok I have Bracket order Sl now.
Question1 when you enter SqrOffSell -->LTP ->>>Ticks 1500 ( Does this mean it will auto square off at target of 75?) meaning 10150+75=10225?
Question 2 Stop Loss Sell says 400 Ticks and Trailing Tick 1 = So at 20 point move in nifty i:e 10150+20 @10170 TSL would move to 1 Tick or 1 point? ( Confused here as 1 tick would mean 0.05 point)
Question 3 Can I enter use either 1 or I must use both options?
As I prefer only placing TSL in case of a loss and a proper exit is decided with system
Sorry for asking such silly questions but my previous broker never had Bracket order option
Question1 when you enter SqrOffSell -->LTP ->>>Ticks 1500 ( Does this mean it will auto square off at target of 75?) meaning 10150+75=10225?
Question 2 Stop Loss Sell says 400 Ticks and Trailing Tick 1 = So at 20 point move in nifty i:e 10150+20 @10170 TSL would move to 1 Tick or 1 point? ( Confused here as 1 tick would mean 0.05 point)
Question 3 Can I enter use either 1 or I must use both options?
As I prefer only placing TSL in case of a loss and a proper exit is decided with system
Sorry for asking such silly questions but my previous broker never had Bracket order option
Q1 : when you enter SqrOffSell -->LTP ->>>Ticks 1500 ( Does this mean it will auto square off at target of 75?) meaning 10150+75=10225?
A1 : Yes, that's what it means. You will also see it in the target order that is generated.
Q2. Stop Loss Sell says 400 Ticks and Trailing Tick 1 = So at 20 point move in nifty i:e 10150+20 @10170 TSL would move to 1 Tick or 1 point? ( Confused here as 1 tick would mean 0.05 point)
A2 : In Zerodha, it moves 1 point for every point move. It starts moving after 1 point move only (20 ticks). So, that TSL thing is not very useful for smaller scrips below 200Rs. or so.
Q3 : Can I enter use either 1 or I must use both options?
A3 : Don't know, but I always use 1 in the TSL box.
The main purpose of using Bracket is :
1) Safety of forced exit in case of a sharp reversal/whipsaw
2) Smaller margin requirement
Besides that, all you have to worry about / manage is the target order for exit. That target of 75 pts need not be written in stone. You can modify the target order to enable your exit as per your market reading/comfort.