Zerodha - Number One Discount Broker in India
- Thread starter Traderji
- Start date
Hi Zerodha I have some query on SL and SL-M orders. Please answer the below two queries.
1) Case 1: I have purchased something and I want to exit on a SL order.
bid price- 230
ask price - 235
and the price is dropping continuously. Suppose my SL order is (Trigger 220, Limit 215)
a) I am not clear when does my order hit the market? Does it hit When bid=220 or when ask=220.
b) if suppose at ask=220 bid is 214, then will my stop loss not execute?
Case 2: I have sold something and I want to exit on a SL order.
bid price- 230
ask price - 235
and the price is increasing continuously. Suppose my SL order is (Trigger 240, Limit 245)
a) I am not clear when does my order hit the market? Does it hit When bid=240 or when ask=240.
b) if suppose at bid=240 ask is 246, then will my stop loss not execute?
thanks!!!!
1) Case 1: I have purchased something and I want to exit on a SL order.
bid price- 230
ask price - 235
and the price is dropping continuously. Suppose my SL order is (Trigger 220, Limit 215)
a) I am not clear when does my order hit the market? Does it hit When bid=220 or when ask=220.
b) if suppose at ask=220 bid is 214, then will my stop loss not execute?
Case 2: I have sold something and I want to exit on a SL order.
bid price- 230
ask price - 235
and the price is increasing continuously. Suppose my SL order is (Trigger 240, Limit 245)
a) I am not clear when does my order hit the market? Does it hit When bid=240 or when ask=240.
b) if suppose at bid=240 ask is 246, then will my stop loss not execute?
thanks!!!!
Check this blog, most queries are answered here already: http://zerodha.com/z-connect/tradez...oftware-version/stop-loss-orders-limit-market
In a SL orders are triggered based on LTP(last traded price) and not on Bid/ask. As soon as the price moves above/below LTP on the exchange order gets triggered and your limit order is placed.
1st example, if market is falling fast, if LTP is 220 or lower, your SL is triggered and selling limit order at 215 is placed. if the LTP drops to below 215 by the time your order reaches the exchange your selling limit at 215 becomes a pending order.
Vice versa in case of buying SL
In a SL orders are triggered based on LTP(last traded price) and not on Bid/ask. As soon as the price moves above/below LTP on the exchange order gets triggered and your limit order is placed.
1st example, if market is falling fast, if LTP is 220 or lower, your SL is triggered and selling limit order at 215 is placed. if the LTP drops to below 215 by the time your order reaches the exchange your selling limit at 215 becomes a pending order.
Vice versa in case of buying SL
Again Snap Quote shows only the first bid/ask and rest are 0 ...
Edit - If i keep it open, it usually fills up fine (from showing 0s to proper values). This problem seems to be more pronounced for smaller stocks perhaps because they are less active. Only get this problem once in a while.
Edit - If i keep it open, it usually fills up fine (from showing 0s to proper values). This problem seems to be more pronounced for smaller stocks perhaps because they are less active. Only get this problem once in a while.
Last edited:
Hi Zerodha,
Today i have experienced a technical problem in zerodha trader like some one elsewhere in this tread stated,when i sell to close the sbin option ,the trade was executed but not shown in the order book and in the trade book ,after reconcile also it did not show so again i sold it ,when i log out and again login the order book shows two trades for sell instead of one.this way i incur loss as i have to cover the other one.If the platform is buggy the low brokerage advantage is vanish in losing trades because of probelms in platform.so please take steps to rectify the problems.
regards
M Prakash
Today i have experienced a technical problem in zerodha trader like some one elsewhere in this tread stated,when i sell to close the sbin option ,the trade was executed but not shown in the order book and in the trade book ,after reconcile also it did not show so again i sold it ,when i log out and again login the order book shows two trades for sell instead of one.this way i incur loss as i have to cover the other one.If the platform is buggy the low brokerage advantage is vanish in losing trades because of probelms in platform.so please take steps to rectify the problems.
regards
M Prakash
for your info
my trades
buy sbin 14jan1650ce 36.80
sell sbin 14jan1650ce 40.80
sell sbin 14jan1650ce 42
buy sbin 14jan1650ce 44.35
the last two trades are placed because of the second sell order executed not shown inthe order book and in trade book even after reconciling.
please look in to the matter.
regards
M Prakash
my trades
buy sbin 14jan1650ce 36.80
sell sbin 14jan1650ce 40.80
sell sbin 14jan1650ce 42
buy sbin 14jan1650ce 44.35
the last two trades are placed because of the second sell order executed not shown inthe order book and in trade book even after reconciling.
please look in to the matter.
regards
M Prakash
