Automatic System Stop loss for a Holding share

Algos, strategies, code
1

I want to put an automatic system stop loss in a specific stock that If the stock went below 10% in a day then it would be triggered automatically . Monitoring stocks or daily putting SL in system is not possible who are in full time job like me.

Is there any way to do the same in zerodha platform ?

2

There is no way to automate Stop-Loss, though you can use GTT but you will have to manually move SL price higher as stock price moves higher. You can read more on GTT here.

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3

Fine @ShubhS9 . I will change it manually . But once I implemented it , do I need to create GTT everyday ? or if I implemented it , it will be in system as long as I don’t remove it.

4

Once you create GTT it is valid for 1 year.

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5

Can you review the attached screenshot kindly whether i filled up the details properly ?

Here I want making sure that if divis lab went below 2200 , 400 shares should be sold out automatically.

Also do i need to submit POA to zerodha for this or will it ask CDSL PIN during implementation of GTT ?

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Capture1049×675 37.6 KB

6

You have done it right.

If you have opened account before November 2019 there is no need for CDSL PIN, If you have opened after November 2019 you will have to provide CDSL PIN to authorise sell of shares from your Demat.

You can also pre-authorize sell of shares which will remain valid for 90 days, Read this to know the process.

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7

Hi @AG_1984,

Yes. Its possible to use a automated system stoploss. we can write one algo-system for that. It will work pretty well on positional as well as intraday trades. For more details please feel free to get in touch with me : 9923 587757 (shivdas)

Thanks,
@shivdas_b

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