If I’m in a sell position means how to set take profit and stop loss for Equity intraday. I’m new to the broker so that’s why I’m asking this question.
@Aadil If you are in a short position and want to take a profit, you place a buy order by selecting a LIMIT order type, and specify the price at which you want to buy it back to secure your profit. Know more about What are limit and market orders?
Similarly, to set a stop-loss, you can select SL - (Stop-Loss Limit). Here, you need to enter both the Price and Trigger Price: When the Current Market Price (CMP) reaches the Trigger Price, your order gets activated as a Limit (LMT) order at the price specified in the Price field. The order will then be executed at the best available price.
There are two types of stoploss orders:
- SL order (Stoploss Limit) = Price + Trigger price.
- SL-M order (Stoploss Market) = Only trigger price.
Articles for ref: -
What are stoploss orders and how to use them?
Why was the limit order executed at the market price instead of the specified limit price?