How to place an Option Trade in KITE app with stop loss

F&O
1

I am new to trading world. I am not able to place order with my desired stop loss. Googled it but still didn’t understood. Step by step explanation would be really helpful to me.

for eg.( In Buying) for BNF 42800CE, CMP is 350. I want to enter above 370. For this my Trigger Price =370, limit Price=380.Suppose CMP reaches upto 400 and there is downside rally.
My Questions are:

  1. What would be my Stoploss price at which trade will be exited.
  2. Will my trade takes automatic exit at trigger price if market falls below 370(My trigger Price).

My questions might sound childish to experts. I am paper trading past few months and my trades are showing positive signs, but I have never traded with real money and I am not in a condition to loose money at such an early stage, so want to be absolutely confirmed with the things before placing a trade.

2

you have to place 2 separate orders, one for entry using LIMIT and the stoploss using SL-L.

Earlier, you could use CO (cover orders) to send both orders in one go but it is discontinued.
SL-M orders are also not allowed for Options.

another read here
How to use Stoploss-limit(SL) order like a Stoploss-Market(SLM) order? (zerodha.com)