I have seen that when i punch limit order at 1000, and price jumps to 999, i do not get benefit of that jump. Why is it so?

At the same time, if I punched SL-M at 1000 and price jumped to 999, I face slippage of Re.1. Why this benefit is not there in limit orders?

For example current market price is 1005 and you set a stop loss limit order say 1000 as limit price and 1000.05 as trigger price. what this really means is that you do not want to sell your shares any price below 1000. So if price jumps to 999 suddenly, your order will wait for a minimum of 1000 to be reached again, otherwise it wont sell. And if price plummets further, to say 980, 970, 950 etc, your shares will not be sold and will wait for 1000 to reach again.This is one of the drawbacks of SL-L order, if not used properly.

To understand why this is happening and you are not getting the benefit.

Cuurent Market Price is 999, you place a limit order at 1000, what will happen?

Will the shares be sold or will it wait for the price to reach 1000? If you just think, the same is happening here!

If you want to sell all your shares within a range, then keep enough gap between Limit Price and Trigger Price like 1002 as trigger and 1000 as limit price. If some shares are pending (not executed in the range) you will be left only with few shares, of which the losses will not be significant, you can square off them manually.

So you have use SL-L orders only when you want to define a price below which you dont want to sell (in too much loss) and you have the intention to wait back until the price climbs to desired limit price.

If you truly doesnt want to hold those shares when it reaches 1000, then you should use SL-M order and sell off all the shares immediately, you will face slippage in this case. No other go.

Can you elaborate please? What type of an order are you placing? Buy/Sell? Its a ‘drop’ in price from 1000 to 999 and not a ‘jump’ hence getting confused.