Limit Order Executing at Current Market Price


#22

dear sir
plz watch this breach of trust…
limit order not executing on limit price…plz clarify this…
08-14-52-4608-14-55-3608-14-52-0808-14-54-26


#23

Looks like you are placing the orders wrong. Buy below the market price and sell above the market price.


#24

Can a SL or SLm order be used to book profit ?


#25

Did you see Zerodha videos or blindly doing comedy in trading?

Also what is the trade you want to do? No explanation in your post


#26

Example???


#27

i have given screenshots above in question…see …i ordered cipla at limit order 631.7 but executed at 627.80…than what is meaning of limit order…in fact sell order(limit) at 624 also excuted at market price…i have purchased cipla due to BTST assumption…but futile…today i would reap good profit…who is responsible for this??


#28

thanks i got this…


#29

Friends, just after reading above, I tried a BO-Sell limit SL Order…
Jetairways - BO SL Order,

Ordered Time -1.45pm - CMP = 280.55
My Sell limit price= 276.05(supposed to be sold at this “LIMIT” price level)
My Trigger Price = 278.8

But, Order executed at 1.54pm at Rs.278.95( above my Trigger Price, above my limit price AND CMP NEVER REACHED OR CROSSED MY LIMIT PRICE OF 276.05)…

1.54 pm - 1 min OHLC Values are.
O= 279.4, High= 279.4, L= 278.75, C= 279.2

My queries:

  1. Is it correct, whether the above order executed in proper manner?
    …what my understanding so far is, in BO- Sell SL or BO- Buy SL order, Limit price should be below or above CMP respectively, Trigger should be above or below Limit price respectively, And Order will be forwarded to exchange once the CMP reaches or crosses Trigger price, BUT ORDER WILL GET EXECUTED ONLY IF THE CMP REACHES OR CROSSES LIMIT PRICE… ( Mostly in between the trigger and Limit price levels)…

  2. Are above my understandings wrong? If so, pl correct me with detailed guidance…

@nithin


#30

My second trade,

BO-Sell SL Order Limit price= 280.5, Trigger price= 280.5, SL = 0.1; TGT= 0.1…
Order executed at 280.5, but SL Triggered at 280.7;
Why SL not triggered in 280.6(original SL is 0.1 )and executed 280.7(at 0.2level) wrongly?..

I did few more trades for understanding purpose… BO- Sell SL order, BO- Buy SL Order, BUT Everytime My SL price triggered at different price levels sometime morethan 4 times of my original SL value (i.e., if I placed 0.1 stop loss Value, Triggered at 0.4 level abnormally)…, Not a single trade gone into right…

What is the maths behind this? Am I wrong? Or my understandings are wrong? I tried zerodha varsity & TradingQ&A, but there is no sufficient information about BO-SL Orders!?

PL guide us @nithin


#31

Awaiting for some experts guidance from zerodha support or Forum members on above matter…
@nithin @Bhuvanesh @lindo @MohammedFaisal
@Newbie420 @MaverickRabidDogIa @Srinivas @RahulKhanna @VAR121

Thanks in advance.


#32

Hey @ZF8925

In BO, SL entry orders, once the trigger is hit, the order will get executed at the next best bid/offer as long as it is within the limit price prescribed.

In your example of sell BO-SL entry - your limit price was 276.05, once the trigger of 278.8 was hit, the order will have executed at next best bid as long as it is not below 276.05, in this case, it was 278.95.

This needn’t be between the trigger and limit price. In this case, its turned out to beneficial as you’re shorting it and you’ve got the entry at a higher price.

The Exit leg of BO is a Stop loss order with market protection. So in the 2nd case, you had entered the trigger as 0.1 which means the SL trigger would be 280.6. After the trigger is hit, the order will get executed at the next best bid which would’ve been 280.7.