stoploss and brokers- why do I need to put new stop loss order everyday?

Hi All,
I am a bit curious about the way stoplosses are enforced by various brokers. ICICIdirect is my broker. I normally do position trades that range form weeks to a couple of months. I have however faced many porblems with the way STOP LOSS order is carried out by ICICIdirect. I have to re-issue each stoploss order everyday !!!!!! I dont mind doing it, though it makes me wonder why in todays world, when everything is automatic, do I have to do it even when I am not changing the stop loss price :(

Some ppl told me that SEBI has made it compulsary to do this. In that case cant the brokers provide this service of enforcing your stoploss orders at particular price everyday, unless you change/cancel the order???

ICICIdirect is my broker and i am certain they dont do it. I have to re-issue my stop loss order everyday. Is there any broker who keeps your stop loss orders once you have issued them untill the time that you change the price/cancel it???

Thanks to all the members in advence.


Similar threads