How to place Trailing StopLoss order?

General
1

I know how to place an order using Trailing Stoploss. But how to place trailing stoploss in following case? :

For example, I bought Nifty 7500CE @ 100 (using NRML order) and when it reaches 105, how to place trailing stoploss @ 105 and so I can wait for the better price and at the same time, I can save the profit I got till then !

  • I use NEST Trader& client of Zerodha
2

Trailing SL is possible only if one uses Bracket Orders.

With regular orders, if one wants to trail SL, then one will have to keep modifying the original SL order as the price moves in favorable direction.

So in your case, when the price moves to 105, you can place an initial Sell Stop Loss order for 100. Then when it moves to 110 you can modify the order to change the price to 105. When the price moves to 115 change the order to 110 and so on.

4 Likes
3

can I change the market order to stoploss market order ?

4

Market order cannot be changed as they get executed as soon as you place them.
But you can definitely use stoploss market order instead of stoploss limit order.