Stop Loss Order - GTC

[letstrade]

Hi,

I am using the ODIN client for trading.

Say, if I buy the Nifty at 5200. Now to limit my losses, I place a Sell Stop Loss order in ODIN as follows:

Order Type: SL Order
Trigger Price: 5150
Price: 5140
Validity: GTC (Good Till Canceled)

Now, the SL order is GTC which means it will not terminate at the end of day and will remain in the system for the next day.

Lets assume that the Nifty opens at 5000 the next day. In this case, my SL order will not get executed and I would be sitting on a huge loss. What should I do in this situation? How do I place the SL order so that my order gets executed and I don't incur a big loss?

Thanks.

 

[rajeabc]

Hi,

I am using the ODIN client for trading.

Say, if I buy the Nifty at 5200. Now to limit my losses, I place a Sell Stop Loss order in ODIN as follows:

Order Type: SL Order
Trigger Price: 5150
Price: 5140
Validity: GTC (Good Till Canceled)

Now, the SL order is GTC which means it will not terminate at the end of day and will remain in the system for the next day.

Lets assume that the Nifty opens at 5000 the next day. In this case, my SL order will not get executed and I would be sitting on a huge loss. What should I do in this situation? How do I place the SL order so that my order gets executed and I don't incur a big loss?

Thanks.

why will your order not get executed ? IT will get executed as price is below your SL. If you want to avoid morning gap open , better don't keep your position overnight.

 

[NiftyFantasy]

In Indian market all orders gets automatically cancelled at the end of the day,,,

 

[andrewjuliandavid]

Good Till Cancelled orders are available with all the brokers but they never offer that to clients.. reason when GTC order is placed the margin is calculated for Delivery margin ..

if we pay Delivery margin its given by brokers



if you want to know which broker offers that ?

 

[Capricorn]

Hi,

I am using the ODIN client for trading.

Say, if I buy the Nifty at 5200. Now to limit my losses, I place a Sell Stop Loss order in ODIN as follows:

Order Type: SL Order
Trigger Price: 5150
Price: 5140
Validity: GTC (Good Till Canceled)

Now, the SL order is GTC which means it will not terminate at the end of day and will remain in the system for the next day.

Lets assume that the Nifty opens at 5000 the next day. In this case, my SL order will not get executed and I would be sitting on a huge loss. What should I do in this situation? How do I place the SL order so that my order gets executed and I don't incur a big loss?

Thanks.

Just put in a trigger and execution @ market price.
That is provided your broker allows GTC.

 

[san_]

in need of help urgently
i know the Q am askin is not appropriate to the post
but plezzzz


i short selled UBL and now it is at only buyers situation...
wat can be done
plezzz suggest...
help needed urgently

 

[Avadhbihari16]

Hello , i just join trading market so plz help me which is best in- gtd, ioc, gtc, and gfd

 

[jamit_05]

in need of help urgently
i know the Q am askin is not appropriate to the post
but plezzzz


i short selled UBL and now it is at only buyers situation...
wat can be done
plezzz suggest...
help needed urgently

take all your money out whatever you have with your broker on an urgent basis.

Take the M-to-M loss and don't feed it any margin.

Learn from this mistake, since you have already paid dearly for it. Don't try to escape this penalty, but take it to heart. Make the best of it.

What you have to learn, I leave it to your good judgement.

And be sure to find the reason why this happened.