At how much difference an SLM order gets executed

i selled PVR share at 514 and put a buy order at 810 and after that it gets executed at 816

how could this happen when i put SLM at 810 then it takes 6 point above and get executed i could not understand the difference of SLM

plz help

In a SLM order as soon as the trigger is hit a market order is sent to the exchange. So in your case when the trigger hit at 810, a market order was sent and it got executed at 816.

In illiquid stocks the impact can be quite high, especially when there is a sudden up/down move and your trigger is in between somewhere.

If you had used a normal stoploss, trigger with limit price, your stoploss would never have executed.

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There is no point to get execute SL-M order as you have given at Trigger Price, it might be same as Trigger Price or it might be vary. Here as soon as hit your trigger price the order will be turn to MARKET ORDER so that means you are willing to buy whatever sell price available on market in your case the order has been completed based on availability price at the moment.

then how should one use SLM in order that could execute in my favour not like this one
because this can lead to a heavy loss if i bought 400 share and with SLM if it get executed at 6 point above then loss should be very high approx 2400 thats a great loss
please tell me how to correctly use SLM option with how much difference

Try looking at this link should help…