How to place a Hedging order

General
1

Hi All,

First of all, i am new to trading and hence please accept my apologies if this is already answered.

I would like to know how to make hedging say for eg in Gold and also have stop loss and take profit for the same

Scenario is as follows

  1. Buy Gold futures April contract at LTP say 100 with stop of 5 points i.e SL is 95

2.Sell Gold Futures May contract at LTP say 100 with stop loss of 5 points i.e SL is 105

Now i want to square off the position if either of the contract goes above 15 points (I.E i am in profit of 15 points)

Kindly let me know how do i place this order in ZT

Thanks

2

1. First place buy order either using limit/market  for Gold futures.

   Once the above order is executed, place a selling SL-M order with trigger price as 95. 

   You have to wait till buy order is executed to place the stoploss, otherwise your stoploss could first get executed. 

   Assuming the price goes up by 15 points, you can go and modify your pending stoploss order to current market price. It will get sold. Or you can place a normal selling order, and cancel the pending SL order. 

2. Exactly like above, just that instead of Buy, you place a sell first and your SL-M order is a buying order. 

Check this post for more on SL orders.