Any one doing day trading from office

[jain.er]

Can I place this kind of Order

Hi all can I place following kind of order in cash market

say a a stock is priced at Rs 100 , I want to sell at Rs 103 and my stop loss is Rs 105 .
I want to place a order such that when stock reaches 103 it is sold and if it rises to 105 my position is covered automatically .

Can a stop loss limit order help , I belive in a stop loss order one has to buy or sell at market price ? Please help me out

 

[anayash]

Re: Can I place this kind of Order

Hi all can I place following kind of order in cash market

say a a stock is priced at Rs 100 , I want to sell at Rs 103 and my stop loss is Rs 105 .
I want to place a order such that when stock reaches 103 it is sold and if it rises to 105 my position is covered automatically .

Can a stop loss limit order help , I belive in a stop loss order one has to buy or sell at market price ? Please help me out

Yep....u can put a limit sell order at 103 & a Stop loss buy order at 105!

 

[veluri1967]

Re: Can I place this kind of Order

Yep....u can put a limit sell order at 103 & a Stop loss buy order at 105!

To clear the clouds, difference between limit order and stop loss orders is explained below with examples.

Present price of a share is Rs.100.

If you place a limit sell order @ Rs.103. (which is greater than present price of Rs.100). The system looks to sell @ rs.103 or better (higher) price.

If you place a limit buy order @ Rs.98 (which is less than present price of Rs.100). The system looks to buy @ rs.98 or better (lower) price.

Under limit order, you cannot expect to sell below present price. Similarly, you cannot expect to buy above present price. If at all, you try to place such orders, they simply get executed at current prices. Stop Loss Limit Orders eliminate this flaw in Limit Orders and possibly you can achieve your targets prices for both buy and sell.

Cheers.

 

[jain.er]

Re: Can I place this kind of Order

Yep....u can put a limit sell order at 103 & a Stop loss buy order at 105!

That means I need to punch in two separate order for the same security ?
One limit order sell at 103 , and another stop loss buy at 105 (market price) ?

 

[angdbani]

Re: Can I place this kind of Order

yes you can. friendly advice from BEZEL. (your neighbourhood stock broker)

 

[jain.er]

Re: Can I place this kind of Order

yes you can. friendly advice from BEZEL. (your neighbourhood stock broker)

Please explain how ?

 

[razx5]

Re: Can I place this kind of Order

Please explain how ?

if u r trdaer in odin diet terminal then there only 2 types of order..RL AND SL
RL order for sell ur shares get sold at hte price u mentioned in order or at slightly higher price..not a single paise lesser than that..same way for buy it gets executed in mentioned price or slightly lesser price..

SL ORDER u need to mention the trigger and price..
for sl buy order=trigger has to be lesser than the price and for sell trigger has to b more than the price

on ur query regarding short selling at 103 and cover at 105..u need to place 2 different orders..first a RL ORDER for sell at 103 as cmp is 100..then u place a SL ORDER for buy mentioning 5-10 paise more than 105 and in trigger u give 105..then it ul get executed only when price jumps to 105

 

[rajeabc]

Re: Can I place this kind of Order

@jain.er ,

Yes you can do that..

Answer was simple yes or no...can't believe why people are confusing you.

 

[razx5]

Re: Can I place this kind of Order

@jain.er ,

yes you can do that..

Answer was simple yes or no...can't believe why people are confusing you.

he needed explanation regarding how to place order

 

[jain.er]

Re: Can I place this kind of Order

Thx all ,

I needed in detail explanation ...