Query Regarding BO + SL order


#1

Hello Guys, if will be very helpful if someone can clarify the BO + SL order.

My Query:
I placed a BO + SL sell order of USDINR @69.15 with stoploss 0.06 and target of 0.03

The order got executed as expected and the target order was also as expected, i.e., buy@69.12.
Problem:The StopLoss order was not as expected.
I wanted to keep the stoploss buy @69.21, which is 0.06 points above my sell price of 69.15.
But instead, the stoploss buy was placed @71.08/69.21 trigger. Modifying the trade only allows change to Trigger price.

How do I rectify my trade. Will really appreciate some help here.


#2

Hi,

I don’t think there is any need to rectify the trade types as such.

This is what i have understood, to break it down, if your stop loss order looks like @71.08/69.21

69.21 is the trigger price. (set by you)
Since this is a Sell SL order, If the price reaches 69.21 level then the order is executed, as long as the price is less than 71.08

I think this called something like “Market Protection Price”. It is automatically determined by broker/exchange based on a set of rules/policy. So that your order doesn’t get executed automatically if the price for some rare reason suddenly spikes up/down by a huge margin.