No chance of modifying a completed ordered. Only pending orders can be modified/cancelled.
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If you are talking about Cover Orders and Bracket orders, yes you can modify the stop loss values even after the execution of the first leg.
I was using Z5 to modify cover orders, not sure whether it is working now, but possible. For BO use ZT to modify.
Example:
- You place a Buy cover order with X as Sell stop loss
- Your First Leg of order, which is Buy order gets executed immediately. (You cant change this).
- Your order book, now shows the Sell Order with Stop Loss trigger. You can modify this SL value using Modify Order option. Be careful, Exit Cover Order will square off your position and Modify order allows you to modify it.
Note: Trialing Stop Loss value cannot be modified for BO, other values can be modified.
so there is no chance of trialing my stop loss manually
I guess u r confused with the concept of trailing stop. Trailing stop is a scenario where you simply raise your stop incase market is going in your direction in order to lock some profits. So if your initial stop was say 8200, now you want to trail it to 8350, simply modify the existing stop order from 8200 to 8350.
“simply modify the existing stop order from 8200 to 8350” yeah i am asking how to modify existing stop order
press ‘F3’ to open order book, then select the pending order and below you will find ‘Modify’ option. Click ‘Modify’. Then the order dialogue will open, change price and press ‘Submit’’
i understand the concept of cover orders but here the problem with me is i want to modify stop loss after the price moved towards my order for example i go long nifty futures @8200 with stoploss 8170 and price moved up to 8250 then i want to modify my stop loss to 8220. so how it is possible in Z5 is my question?
@Rajiv
I was doing this sometime back before the critical update. I am having trading break now, so not trading nowadays.
This is what I used to do.
Open Z5. click F3 or revoke the Order Book Window. Your stop loss order will be visible there, Choose that and click Modify order.
Modify Order window will come. In that you revise the trigger value from 8170 to 8220 and submit.
Sometimes it would be slow, but be patient, it will change.
In nestweb, you cannot modify cover orders. It will not allow you saying that "CO cannot be modified"
In TradeExpress, you can modify the cover order, but only below your buy price, I mean on the loss side only. You cannot set on profit side.
Only in Z5 I used to modify since it allowed me to set on profit side also.
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yes you can change the stop loss for bracket order after execution. For zerodha kite ,You need to go orders then click on the row in which stop loss is shown, click there and MODIFY .
Can i modify my stoploss above my buy price once my executed buy order has moved up(like trailing Stop loss)…
For eg …i bought nifty future cover order @9500… with stoploss at 9400…now the price has gone to 9700…can i modify the initial stoploss of 9400 to 9600(which will be above my buy price)??
@shub69, @ NITHIN pl clarify i alsohave same doubt, when ltp is above buy price in cover order can i shift stoploss toabove buy price but below LTP. PL REPLY
Yes, you can do this.