MIS order entry with 2 lots

Trading
1

I want to do the following things
Buy 2 lots of future contract at 400 via MIS order.
CMP 399
Target 1 405 SL 1 395
Target 2 410 SL 2 395
If T1 is achieved I will cancel the SL1 for that and would trail the SL2.
Please explain how to do above things? if possible
Thanks

2

Place SL-M buy order for 2 lots price = 400.

After order is executed place SL-M sell order for 2 lots price = 395.

Then, place one limit sell order for 1 lot at 405, and place another limit sell order for 1 lot at 410.

If target 1 is achieved modify SL-M sell order from 2 lots to 1 lot.

If target 2 is achieved cancel the SL-M sell order for the 1 lot.

3

MaverickRabidDogIa thanks for A2A,
I have one more query,Can I trail the stoploss for both the orders differently, if yes, how?
Thanks

4

Yes, you can place two stop loss orders at 395 or at two different levels ( say one at 395 one at 392 ) for your executed order ( 2 lots at 400 ). Later on you can keep trailing you stop loss by changing the trigger price in your order.

5

Hey MaverickRabidDogIa, thanks for answering my queries.
May I know how much margin will be required for this whole( in terms of x, 2x,3x… where x is margin required for 1 lot)?

6

Margin requirement depends upon the stock or index you are trading. Here, you will require margin for two lots of whichever stock you want to trade.

You can check margins at the link below:
https://zerodha.com/margin-calculator/SPAN/