Stop Loss- Limit Vs Stop Loss - Market

[ankquo]

Hi,

I just create account with NSE - Phathshala-

I dis one trade but i got loss which I do not understand.

I but 1000 usd with SL-M order type at 62.2450 Rs. I place a sell order with SL-M order type and set trigger price 62.2800 Rs. But my sell oder execute at 62.2325 Rs. Which is non understandable. Please help to learn.

Regards
Ankur

 

[annuvimt]

you should not place a SELL stop loss order higher then current price. it should be LIMIT order if SELL price is higher then current price. if it is then it will execute on market price available at the time of order placed...I think that is the case here.

 

[ankquo]

thanks for the answer.

What is the difference between stop loss - market order and stop loss - limit order?

 

[sspms2002]

thanks for the answer.

What is the difference between stop loss - market order and stop loss - limit order?

Stoploss Market order will covert to Market order once the stop price is reached and it will execute at the market price..what ever the available market price at that time...

On the other hand..Stoploss limit order is a fixed price stoploss order..means that it will get executed only when the price trades at that stoploss price..
It may happen that price may not trade there and the stoploss never gets executed..

So better to place a Stop loss MKT order..but you may go for stoploss LIMIT order for thick stocks...
I am also a newbee so it is my understanding...Pros can correct it..

 

[stoch]

thanks for the answer.

What is the difference between stop loss - market order and stop loss - limit order?

Cross a distinguishing line between market order and limit order first. First type is going to be executed immediately at market price, second is pending order which will be triggered by reaching price certain level (usually on a hope of bounce for example from S/R levels). There is also stop order which is opposite to limit order.
Regarding order execution: there is also an evil thing for a trader called slippage. Sometimes your SL could not be triggered because there is no market price available on that point and your order is executed at best next available price. This principle is applied to trading on any market or asset but basically the less is liquidity the higher is slippage.