Hello Pannet, NoviceStocktrader and others
I did notice that this is quite old question but still answering it because it is one of the common problem for a newcomer. Each broker terminal is different in UI. Some provide additional drop-down but the actual mechanism at the exchange relies and works on two prices.
Chances are that there was nothing wrong with the broker terminal on that day. You just did not understand how it is meant to work.
Limit Price and Trigger Price work against each other like two opposite arms of a scissor.
One another reason for reply is that the statement made by NoviceStockTrader in his Post Link to post
is not entirely correct
I shall attempt to explain the logic behind order filling and also rectifying the wrong assertion made by NoviceTrader.
Lets assume you bought some stock at 200 and its LTP is now at 230. Now, you wish to place the stop loss at 220.
Since we already bought, we would have to place a sell order at 220. For it to be classified as stop loss order, you *MUST* provide
a trigger price. Providing Limit price is optional. But Trigger price is MUST.
Whenever the Trigger price is used, Order Status must cycle thru "Pending" to "Triggered" before it can reach "Executed". The order
cannot go directly from "Pending" to "Executed"
View attachment 46474
In your example case, before 10:43 A.M., your order was "Pending" and yet to be "Triggered"
Then, at about 10:43 A.M., LTP or Bid moved below 225.05 causing the order to reach "Triggered" status. But, It did not get executed because the limit price prevented it because LTP/Bid was already below 225.
You had set limit to 225 so it would sell it only at or above 225 but LTP/Bid was already below 225. It would place price of 225
with your quantity in the Ask queue and wait until it is executed.
Same thing was repeated at 10:46 A.M. for price pair 211 and 210. Price jumped from above 211 to below 210 in very short span of time.
In highly volatile scrips or low liquidity scenarios, it is quite common for order to get triggered but not executed. If it happens frequently, either increase the gap between the limit and the trigger or do not provide limit price at all.
Whenever the limit price is not provided in a stop loss order, the order will be converted into market order and executed immediately upon trigger as long as there is some other counter trader.
I did notice that this is quite old question but still answering it because it is one of the common problem for a newcomer. Each broker terminal is different in UI. Some provide additional drop-down but the actual mechanism at the exchange relies and works on two prices.
Chances are that there was nothing wrong with the broker terminal on that day. You just did not understand how it is meant to work.
Limit Price and Trigger Price work against each other like two opposite arms of a scissor.
One another reason for reply is that the statement made by NoviceStockTrader in his Post Link to post
is not entirely correct
I shall attempt to explain the logic behind order filling and also rectifying the wrong assertion made by NoviceTrader.
Lets assume you bought some stock at 200 and its LTP is now at 230. Now, you wish to place the stop loss at 220.
Since we already bought, we would have to place a sell order at 220. For it to be classified as stop loss order, you *MUST* provide
a trigger price. Providing Limit price is optional. But Trigger price is MUST.
Whenever the Trigger price is used, Order Status must cycle thru "Pending" to "Triggered" before it can reach "Executed". The order
cannot go directly from "Pending" to "Executed"
View attachment 46474
In your example case, before 10:43 A.M., your order was "Pending" and yet to be "Triggered"
Then, at about 10:43 A.M., LTP or Bid moved below 225.05 causing the order to reach "Triggered" status. But, It did not get executed because the limit price prevented it because LTP/Bid was already below 225.
You had set limit to 225 so it would sell it only at or above 225 but LTP/Bid was already below 225. It would place price of 225
with your quantity in the Ask queue and wait until it is executed.
Same thing was repeated at 10:46 A.M. for price pair 211 and 210. Price jumped from above 211 to below 210 in very short span of time.
In highly volatile scrips or low liquidity scenarios, it is quite common for order to get triggered but not executed. If it happens frequently, either increase the gap between the limit and the trigger or do not provide limit price at all.
Whenever the limit price is not provided in a stop loss order, the order will be converted into market order and executed immediately upon trigger as long as there is some other counter trader.
thank you. it is very kind of you for going in length to clarify. fully appreciate it. good luck.
