ICICI margin trade order placing ? help? how to?

ICICI margin trade order placing ?confusing!

Hello all ,

Need information since its confusing .How to place the margin trade order for a buy or sell order under margin .



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

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

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

Re: ICICI margin trade order placing ?confusing!


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

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 ?

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,

nicely explained with simple words. excellent buddy.

Hi all, I am trading for quite some time however have some doubts in my mind, appreciate if someone help me in that.

1. About stoploss: as someone explained here abtstoploss should be above buying price and when you short in should be lower that last traded price. OK
but then how come when call is given

e.g. BUY SHIPPING CORP. CMP 58.45 SL 55 TGT 63 TO 65 , Now here how come Stoploss is less than CMP ?

one more example:

Long central bank fut @ 82.7, tgt 84-86, SL: 80.85
Now in this example if i buy @ 82.7 how to put stoploss at 80.85 in icici ?

Thanks in advance