Hello Members,
I have a query that whenever I try to OPTION trade from zerodha platform my order get executed at lower price than what I mentioned.
Please not : I use GTT method for my Stop loss and Target.
Can anyone tell me how to put order so that it get executed on the right price and can our SL and Target in that order.
Depends on what type of order your are placing.
A market order will always execute at the best available price in the market.
While a limit order will execute at the price specified by you or a better price. That is, buy limit order will execute at the price specified or lower price (as it is better) and sell limit order will execute at the price specified or higher price (better price). Please check out this article on how limit and market orders work.
You can set both target and stoploss while placing the order by placing the order in NRML product type and using GTT order facility on the order window. More on this here.
Thanks Shubh,
I always trade through Limit Order.
As you mentioned that limit order get executed at the price I mentioned or lower ( which is better) …
So the problem I am facing is that I usually pick up trade when it breaks the previous candle high which give me confirmation to enter into trade.
Suppose I put 405 Rs. ( Because 404 Rs. is previous high) on limit order. But it get executed at 403 Rs…
As per my strategy it has not broken previous high hence it can go down.
This is my problem… If you can help me I will be highly obliged.
As you are placing buy limit order above the CPM, it will execute at the best available price in the market because it is the best price you will be getting.
To buy above CMP, you need to use SL order. You can learn more about stoploss orders here.
Use Stoploss-Limit order. You will define a trigger value and limit value, In this case you can put 404 as trigger and 405 as target
There will be some slippages when there is a a huge sellout in a small timeframe. Your order will be filled with the best available buy order at that time.