Can anyone tell me how to make use of the Stop Loss facility on ICICI Direct? The specific points I need clarity on are:
1. Is it possible to place a SL order simultaneously when we place the buy order, which holds good till it is hit or I modify it?
2. What is the difference between Limit price and SL trigger price? How to use these effectively to put a SL?
3. Once I am into a scrip, do I have to put a SL order everyday?
So far, I have been putting as mental SL and need to keep a close watch on the price movements and physically place a SL order if that is breached. I was fortunate yesterday as I was watching the market closely and was out of the market in time, but I would like to guard myself against any such situation when I am not following the market.
I know there are quite a few ICICI Direct users who use this service extensively, and I hope you will be able to help me out.
Thanks in anticipation,
Pranay
1. Is it possible to place a SL order simultaneously when we place the buy order, which holds good till it is hit or I modify it?
2. What is the difference between Limit price and SL trigger price? How to use these effectively to put a SL?
3. Once I am into a scrip, do I have to put a SL order everyday?
So far, I have been putting as mental SL and need to keep a close watch on the price movements and physically place a SL order if that is breached. I was fortunate yesterday as I was watching the market closely and was out of the market in time, but I would like to guard myself against any such situation when I am not following the market.
I know there are quite a few ICICI Direct users who use this service extensively, and I hope you will be able to help me out.
Thanks in anticipation,
Pranay