ICICI margin trade order placing ? help? how to?

sanx · #1 8th August 2007, 10:57 PM

Hello all ,

Need information since its confusing .How to place the margin trade order for a buy or sell order under margin .
http://img261.imageshack.us/img261/6020/stoplosszh4.jpg

looking at above ,
Ex - RELCAP i want to buy at 325 (LTP) which is the current price .

I am confused here , is the limit price to sell after i buy ?
Stop loss Trigger price is to trigger the sell after i buy ?

and when i place the order it says SLTP cannot be less than LTP ?

Also can some one explain what is the below from ICICI website.
"Please note that in a buy order the SLTP cannot be less than the last traded price. This is treated as a normal order because the condition that the last traded price should exceed the stop loss trigger price for a buy order is already satisfied. Similary, in case of a stop loss sell order the SLTP should not be greater than the last traded price for the same reason. "

Thanks, this forum rocks .I have been reading a lot and there is wealth of information here ,no time to soak all

.

swagat86 · #2 9th August 2007, 02:12 PM

hi san did u go thru the demo on ICICI customer service page?

sanx · #3 9th August 2007, 02:26 PM

Hi swagata ,i have gone through that ,I have placed a market order .
But limit order is confusing and the terms they use.

sanx · #4 9th August 2007, 08:36 PM

Bump ............

sattimes · #5 10th August 2007, 04:28 PM

Quote:

Originally Posted by sanx

Hello all ,

Need information since its confusing .How to place the margin trade order for a buy or sell order under margin .
http://img261.imageshack.us/img261/6020/stoplosszh4.jpg

looking at above ,
Ex - RELCAP i want to buy at 325 (LTP) which is the current price .

I am confused here , is the limit price to sell after i buy ?
Stop loss Trigger price is to trigger the sell after i buy ?

and when i place the order it says SLTP cannot be less than LTP ?

Also can some one explain what is the below from ICICI website.
"Please note that in a buy order the SLTP cannot be less than the last traded price. This is treated as a normal order because the condition that the last traded price should exceed the stop loss trigger price for a buy order is already satisfied. Similary, in case of a stop loss sell order the SLTP should not be greater than the last traded price for the same reason. "

Thanks, this forum rocks .I have been reading a lot and there is wealth of information here ,no time to soak all

.

Hi Sanx,

U r getting confused. SLTP is not for selling after u buy. It is for buying only. Actually it is a buy stop order.

Stop Loss Trigger Price(SLTP) - Actually the "stop loss" word is confusing for fresh buy order.
Just 4get that word and try to undrstand,

This is the trigger price 4 a buy order, and once the LTP crosses it, ur order will be executed for a price <= limit price( given by u)

hope this clarifies.

In case if u want buy @ only <=325, then just leave the SLTP blank and put limit price 325.

ur order will be executed once LTp <=325.

icicidirect conducts weekly demo at thier branch, pls check in custermor service page

regards
Satish

sanx · #6 10th August 2007, 05:40 PM

Thanks satish .

So for a buy order under margin if the current price or last traded price is 325.

Limit price can be 335 -- This is the max price i am willing to buy at ..right ?
and SLTP can be 330 -- if the LTP jumps to 325(current price) to directly 332 and comes back below 330 then a buy will be triggered right ?

And I can leave the SLTP blank and just mention Limit price as 335 ( that is the max i was to buy the stock at ) right ?

pakatil · #7 11th August 2007, 12:13 AM

Hi Sanx,

Let me try to clear your confusion.

Buying at higher price than CMP & Selling at lower price than CMP is treated as Stop Loss Order. A Trigger is required only for Stop Loss Order. If you want to buy around 334-335 when CMP is 325, Limit is 335.00 & Trigger is 334.

On the other hand, Buying at lesser than CMP & Selling at higher than CMP is treated as Limit Order. No Trigger is required. Just put your value in the Limit.

I was trading with ICICI earlirer & Now with Religare. The principle remains the same.

Cheers
PAKatil

sattimes · #8 11th August 2007, 06:53 PM

Quote:

Originally Posted by pakatil

Hi Sanx,

Let me try to clear your confusion.

Buying at higher price than CMP & Selling at lower price than CMP is treated as Stop Loss Order. A Trigger is required only for Stop Loss Order. If you want to buy around 334-335 when CMP is 325, Limit is 335.00 & Trigger is 334.

On the other hand, Buying at lesser than CMP & Selling at higher than CMP is treated as Limit Order. No Trigger is required. Just put your value in the Limit.

I was trading with ICICI earlirer & Now with Religare. The principle remains the same.

Cheers
PAKatil

explained nicely,

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