AMO order for Next Trading day on MCX with condition
Lets Say Crude trading at 4120 at 03/Dec/2014 and ends up at OHLC 4110-4125-4105-4120
I want to place order
@ 4121 for Buy and @ 4099 Sell simultaneously
Next day if it start rally from 4120 to any point then it profit
if it start to fall from 4099 to any point will be my profit
Can it be done…???/
Summary: Want to place order for the next day on MCX by seeing EOD, but issue is i want to place 2 orders for buy and sell simultaneously…any order executed, then pending order i will cancel immediately.
Yes you can do, but you will need margins to place these two orders individually.
So for example if you have 50k, you can use 25k to place AMO SL-buy and 25K for AMO Sl-sell. So either way if market moves at open, you can catch it. But the issue though is that when markets open first thing in the morning, it is quite choppy in the first couple of minutes.
Suppose the Stock at 100
I place AMO buy order with SL-M Price @ 101 and trigger price 95
Next day Stock opens at 95…will it be executed ??
Point is if AMO order hits the trigger price first, then i think order will not be executed…
Correct me if i am wrong…
i tried the pending order both for high and low… order get completed status without touching these points…
and cut the position and loss of Rs137.50 with net position Zero
Sell copper Mini @ 402.35 and it make a low to 402.40 then how it get filled
Buy Copper Mini @ 403.30 and didnt get this point make high of 402.20 and it get filled.
Now my loss is 137.50 and my net position is Zero that means i cut my position of -0.55 points loss that means i cut it to 402.90 but where i have cut it… …
how is this possible…
So if a stock is trading at 100, and you want to place a buy above 101 and sell below 99.
Choose Buy order and then SL-M(stoploss market option, in your order and not limit), place a trigger price of 101.
Choose Sell order, SL-M, place a trigger at 99.
What this trigger does that unless the price either goes to 101 or 99, that order is not active. So if price goes to 101, a buying order is sent to the market, and similarly if it goes to 99 a selling order is sent to the market.
So the only way you can execute such trades is using the help of trigger. Do read the blogpost link I gave you on SL.
What a great explanation… Clap hands to your support…very soon i will be bringing one of my friend to Zerodha as this is the best of the best company in India…Salute to your Zerodha and the support … Like i never leave Kotak bank, now its decided that i will never leave Zerodha…Emotional , practical and moral support given to all traders … Other broker company work on just making clients and making their company successful , but Zerodha working on making trader successful… … Lastly i was in Religare and the frustration i got there is horrible…
Once again thanks a lot…