I have an Icicidirect.com account. When I want to buy a scrip AT Icicidirect(and go to the BUY page), I see two columns at the bottom: DISCLOSED QUANTITY and STOP LOSS TRIGGER PRICE. Now what are these columns for?
I watch CNBC news and go ahead from there(and also tradersedgeindia picks). Most of the times, I hear someone say "buy xxx company shares, for yyy price, with a zzz STOP LOSS". The first two things are ok, but I am not sure about how stop loss concept works. If I decide to have a stoploss on infosys at 1550, then what I thought till now is that I should keep tracking live market price and if I witness a fall below 1550, then I should MANUALLY sell the scrip below the stop loss price(1550). But recently I read that stop loss price triggers selling automatically (without me selling it manually) after its level is breached. Now what does this mean? Does Icicidirect sell the scrip for me AUTOMATICALLY if the scrip falls below stop loss price?
Can someone tell me the exact working of this stop loss concept? It will be a real life saver and this information will certainly help new traders like me(I started in June this year).
I watch CNBC news and go ahead from there(and also tradersedgeindia picks). Most of the times, I hear someone say "buy xxx company shares, for yyy price, with a zzz STOP LOSS". The first two things are ok, but I am not sure about how stop loss concept works. If I decide to have a stoploss on infosys at 1550, then what I thought till now is that I should keep tracking live market price and if I witness a fall below 1550, then I should MANUALLY sell the scrip below the stop loss price(1550). But recently I read that stop loss price triggers selling automatically (without me selling it manually) after its level is breached. Now what does this mean? Does Icicidirect sell the scrip for me AUTOMATICALLY if the scrip falls below stop loss price?
Can someone tell me the exact working of this stop loss concept? It will be a real life saver and this information will certainly help new traders like me(I started in June this year).