Stop loss

Hi all

This my first day at this forum, I have a question..

I have ICICI Direct DMAT account, and am trading in cash (Delivery), because I can't sit daily infront of PC. So I wanted to give stop loss if share value goes down, when I asked to ICICI they say that this is possible only in margin trading not in cash. Is there any other online broker who has this facility ? What should I do?

Waiting for replay

GAJANAN

Hi GAJANAN,

It is possible to put a Stop Loss order in ICICI Direct for Delivery poitions as well. Only issue is you will have to put the sell order daily.

On the Sell page, you can enter the SL price and the Selling price.

Let me know what issue you are facing in putting Stop Loss order so that I can describe in detail.

Lalit

Hi Gajanan,
I too have the same problem and am looking for a better broker if someone can recommend one for positional trader who want to put stop loss GTC (Good Til Cancelled).

Gajanan, go to trading and on the far right you can click help. It will explain the buy/sell screen fully. Basically you have to click Sell, then put your sell order but at the bottom you put your sell stop trigger, and also you MUST put a sell limit too.

i.e. AStock you bought at 100 and you want to put the sell stop at 95 you must also put a limit, say 90. So if the AStock goes to 95, your sell stop will be triggered, but if there is only little liquidity, you have a limit of selling at 90. If there is good volatility you will sell nearer 95.

Hope this helps.

I think, you have to put your order on daily basis since it executes, all orders will expire at the end of market time and you have to put a fresh one next market day.