How to execute the below orders in zerodha?
Requirement 1:
I am interested to buy NIFTY20SEPFUT(not the intraday order it should be delivery order), order placed through kite UI.
Assume the above buy order executed successfully and active order is available in my account.
As soon as my buy positions executed successfully, i would like to place sell/squareoff order with stoploss 0.5% and this sell/squareoff order should be taken as delivery so that it will help me to avoid big loss when the next day market opens against to my direction the loss will be 0.5% or >0.5%(in SL-M).
Is it possible??
Yes, Already i went through the GTT tutorial, but i am bit confused to understand the GTT feature clearly. Can you please help me to place NIFTY20SEPFUT buy order with stoploss 0.5%. expectation here is buy order will be executed as soon as i submit the order and stop loss 0.5% will be added in GTT so when the market direction goes to opposite direction my buy position will be squared off right?
Please find the attached snapshot of GTT order for the above requirement.
Thank you for the response. then did you mean when there is a gap down open in next trading day, there is no guarantee to suuareoff my buy positions because of limit order??
Yes, when you are placing GTT, advice you to keep distance between GTT Trigger and Order Price, this way it will be treated as Market Order, but again if market falls beyond that price, it won’t execute.
My understand:
First I have to place buy NIFTY20SEPFUT order as separate order without using GTT.(it can be market or limit).
if above order successfully executed, post that i have to create GTT sell order with trigger price is 0.1% and limit order price is 0.5%(my stoploss). here also no guarantee when the gab down is beyond the 0.5% right?
Please correct me if my understanding is wrong.
Then what is the way to squareoff my buy position when the market goes to opposite direction? should i place sell market order on next trading day @9.15AM??
@ShubhS9 is giving you “to the point” answers to your exact queries.
But reading your original comment I can say that you have very limited knowledge of Derivatives and trading. And you need to learn many many things.
For ex. There is no concept of “Delivery” in trading futures.
There is no such concept. Once order is executed you get a “position”
I think I know what you mean. You mean your SL exit order should be active post market hours/over night. This is called as GTC/GTT order types. They are of little use in Indian markets where there is no concept of 24 hrs trading. So if tomorrow there is gap open, this order wont save you.
Thank you for your explanation. much appreciated.
But few of the successful traders suggestions was please follow the strict stoploss. how to achieve this in realtime. please let me know if you have solution. so that it will help me.
