Placing stop loss order

#1
Dear frens,

I have a basic question on placing stop loss trigger. Suppose I bought 1 share at 100 rs for intraday. Now I know that I can not watch market for next couple of hours for that day, so I want to place the sell and step out. So I put a sell order at 105. At the same time I put a trigger price of 96 and stop loss price of 94. Having said my situation here are my questions:
1. If my sell order is executed at 105, do I still need to cancel my stop loss order (be it activated or not)
2 if my trigger order is activated and executed, do I need to cancel my original sell order?
3. If the answer for above two points are yes, then 3rd question will be say my sell order is executed at 105. And before I cancel the stop loss order the price has fallen drastically and stop loss can also get triggered and executed. What will happen this case?

Sry for long post. I searched many forums but I am not able to get the complete answer. Hope I get here...
 

calic

Active Member
#2
Dear frens,

I have a basic question on placing stop loss trigger. Suppose I bought 1 share at 100 rs for intraday. Now I know that I can not watch market for next couple of hours for that day, so I want to place the sell and step out. So I put a sell order at 105. At the same time I put a trigger price of 96 and stop loss price of 94. Having said my situation here are my questions:
1. If my sell order is executed at 105, do I still need to cancel my stop loss order (be it activated or not)
2 if my trigger order is activated and executed, do I need to cancel my original sell order?
3. If the answer for above two points are yes, then 3rd question will be say my sell order is executed at 105. And before I cancel the stop loss order the price has fallen drastically and stop loss can also get triggered and executed. What will happen this case?

Sry for long post. I searched many forums but I am not able to get the complete answer. Hope I get here...
Answers
1.Yes.But ther is an order type called bracket order.If your broker provides that,as soon as the one order(target or stoploss) the other order gets cancelled automatically.As far as I know only Sharekhan provides this .(Personally never used it)
2Yes
3You have to square off the position by selling 1 share manually
 
#3
Thanks calic. Just to confirm in point 3, if my stop loss is also executed and I am not able to log back in demat acct in afternoon, then the square off will automatically happen for 1 share at market close. It will be being treated the same way as other intraday orders are treated.am I right?
 

calic

Active Member
#4
Thanks calic. Just to confirm in point 3, if my stop loss is also executed and I am not able to log back in demat acct in afternoon, then the square off will automatically happen for 1 share at market close. It will be being treated the same way as other intraday orders are treated.am I right?
1 A rectification in my answer in point 3-I wrote you have to square off the position by selling the script;but instead you have to buy it as you are short by 1.Now answer to your next question.It will be automatically squarred off only if your orders were intraday orders and that too if your trading platform offers a facility for intraday trades