stop loss order..theory vs practical..very confusing

[icarus2712]

hi all i am a new bie here, however efforts i take to study stop loss orders i am not able to understand . for eg todag on hdfcsec i tried for sell stop loss

1) LTP 872.95
Price 871
trigget 874

this txn was rejected with message trig must be greater than equal to price..which price?

2) ltp 112.40
price 112
trigger 112.50

this got executed
so what was wrong in first case.

also in buy stop loss which i also tried error was trigg should be less than or equal to price

kindly advise

 

[mark8tune]

hi all i am a new bie here, however efforts i take to study stop loss orders i am not able to understand . for eg todag on hdfcsec i tried for sell stop loss

1) LTP 872.95
Price 871
trigget 874

this txn was rejected with message trig must be greater than equal to price..which price?

2) ltp 112.40
price 112
trigger 112.50

this got executed
so what was wrong in first case.

also in buy stop loss which i also tried error was trigg should be less than or equal to price

kindly advise

Try to understand how these order work.

Suppose LTP is on 872
You want a stop loss order on 870
what you need to fill trigger price too. what a trigger price is exactly ? It's a price where your stoploss order will get activated.
So what you need to fill is

Trigger 871 (in case of Sell sl it should not be more than LTP)
price 870

Hope you understood.

Happy Trading

 

[icarus2712]

So in plain English

1) currently share is selling at 872
2) I don't want to recieve less than 870
3) as soon as price falls to 871 my share will be sold at 871

Is that correct but then I want 872 or higher not lower so

In short how do I manage in case LTP shoots up and I want that price not previous lower one

Here's today's sell I did

LTP 878.45
Price 882
TP 900

Got executed at 882

 

[Charles07]

Hi.
http://zerodha.com/z-connect/tradezerodha/zerodha-trader-software-version/stop-loss-orders-limit-market

Read this.
Not promoting anyone.