Stop loss trigger price

[hbkhrushikesh]

hi guys,
I am relatively new to trading. I have recently realised the importance of stoploss and want to use it for all my future trades.

I have gr8 difficulty in understanding the stop loss price on ICICIdirect!!! And i need help!!! cause i dont want my trades to be without a stop

when i go to the buy page on ICICIdirect, along with the limit price, i have to quote the stop loss trigger price. ( is this the same as stop loss?? i have read the description on icici website........) even if i quote a stoploss trigger price, they never ask me the stop loss price!!

also, if a stock is trading at 100 and i intend to buy it when it falls to 95, i set a limit order of 95 ........... in this case the problem is........ i cant set SLTP ne where between Rs 85 to 99........ if its less then 95 ......then i get msg saying sltp is less then the last traded price.........and if i put ne thin more then 95 /........... i get msg saying sltp cannot be more then buy price....!!!!

i know what a stop loss is........ and to me it seems logical that the value shud be roughly arnd the last level of support .......which in this case is lets say Rs 85.

Can someone tell me how i can set a stop loss at 85 ( or corresponding sltp price in order to get stop loss of Rs 85)

I am need of gr8 help.........as i cant go on trading without a stop loss......... cause one day .......... this lamb may get slaughtered

Thanks all
Rishi

 

[NOMINDTR]

Kindly do not discuss an issue in so many threads Rishi.

 

[AW10]

Hi Rishi,

Stoploss order is separate from your main order. So you need to put it after placing the main buy/sell order.

A order has following components -
1) Action i.e. Buy or Sell
2) Security /stock/ instrument
3) Prices - a) market = i.e execute the order at whatever price available now
b) limit = Here u dictate the price and place a fixed price to execute ur order. If current price is better then your specified price then this gets executed else it waits in the queue. eg - if you are ready to buy at 95 but current mkt price is 94, so u will be happy to buy at 94.. hence order is executed immediate.. But if this is sell order, then it will not be executed because u are ready to sell at 95, and and cmp of 94 is not against your quoted limit price.
4) Trigger price = this is the price that u mention to make you order active.
If nothing mentioned here then ur order directly hits the active queue at the exchange. But if it is mentioned then yr order sits on the side queue. As soon as your mentioed trigger price is hit, the order gets trasfered to active queue and become active.
Once it is active, then whatever you have mentioned in first 3 points, becomes valid.

Hope this clarifies your doubt.
Plz also read following previous posts from me on this topic.

http://www.traderji.com/beginners-guide/23119-anybody-pls-clarify-my-doubt-regarding-sl-order.html

http://www.traderji.com/beginners-guide/23119-anybody-pls-clarify-my-doubt-regarding-sl-order.html

Happy Trading.

 

[hbkhrushikesh]

Kindly do not discuss an issue in so many threads Rishi.

Sorry...... i got a bit desperate..... i am in a real pickle..... as i am trading without stop loss

 

[hbkhrushikesh]

Hi Rishi,

Stoploss order is separate from your main order. So you need to put it after placing the main buy/sell order.

A order has following components -
1) Action i.e. Buy or Sell
2) Security /stock/ instrument
3) Prices - a) market = i.e execute the order at whatever price available now
b) limit = Here u dictate the price and place a fixed price to execute ur order. If current price is better then your specified price then this gets executed else it waits in the queue. eg - if you are ready to buy at 95 but current mkt price is 94, so u will be happy to buy at 94.. hence order is executed immediate.. But if this is sell order, then it will not be executed because u are ready to sell at 95, and and cmp of 94 is not against your quoted limit price.
4) Trigger price = this is the price that u mention to make you order active.
If nothing mentioned here then ur order directly hits the active queue at the exchange. But if it is mentioned then yr order sits on the side queue. As soon as your mentioed trigger price is hit, the order gets trasfered to active queue and become active.
Once it is active, then whatever you have mentioned in first 3 points, becomes valid.

Hope this clarifies your doubt.
Plz also read following previous posts from me on this topic.

http://www.traderji.com/beginners-guide/23119-anybody-pls-clarify-my-doubt-regarding-sl-order.html

http://www.traderji.com/beginners-guide/23119-anybody-pls-clarify-my-doubt-regarding-sl-order.html

Happy Trading.

Thanks a lot for your reply....... and the links you provided.....

I think i was confusing between the SLTP for a buy order and a sell order......
I deal in cash and do 'normal' position trading ( no shorting) ......
so i think what i sud do is....... buy a share...... and when the share hits a certain price...... place a limit sell order with a SLTP thats higher then the limit sell price........This will make my share active only if the price starts to fall after a certain high......hhmm that now makes more sense.... and in order to protect profits...... keep modifying the SLTP and limit price if the price of the stock keeps going up

Is that rite??? is this what i sud do??? I think i was making the mistake of confusing SLTP at buy with SLTP at sell...... and hence my stupid logic told me....... that SLTP set during a buy order is the trigger for a sell order if the price falls immediately after i bot the share

 

[NOMINDTR]

i got a bit desperate..... (

Watch what you "feel"; or else a trade could harm you.

 

[chrea]

hi i want to know about stoploss If i have RNRL @ 90 and i want
to sell if it treaded < 88 or >95 how my order should be???
these orders i want place at the same time plz help

 

[hbkhrushikesh]

hhhmmm........... you can place a SLTP order for the Rs 85 order and a normal limit order for Rs 95.

As the prices is 90 now........... with SLTP order your shares will not go to market untill price falls to abt 85 and then will be sold if it does fall to 85. on the other side...... with limit order of 95 your shares will go straight to the market........ and be sold when the price reaches 95.

why do you want to put a both way order tho??? doesnt make sense to me.

 

[drcashflow]

HI,

very valuable information, thanks for all...

to day i bought some shares in icicidirect, and i wanna to place a stop loss order for those shares.. but i am not able to spot those shares in my demat account today evening itself..

what i want to know is , once we buy some shares

1] where should we see for those shares in icicidirect
2] when can we place a stop loss order i mean after how many days..

precisely after how many days we can see those shares in our demat account???so that we can influence/manipulate those shares....

 

[drcashflow]

I have gone through icicidirect FAQ... got this information..

The shares will come into your demat account at the time of settlement. Hence you can expect the shares to come into your Demat account on Pay-Out of securities (i.e. T+2

till that time they says that we can sell those shares if we want from BTST segment..