I had executed a BN straddle (22200 strike price) and placed a SL-M order for safety. The CE side order got executed but the PE side didn’t and had an error ‘price is out of execution range’, then had to manually do it some time later at an extra 6k loss. I thought SL-M orders get executed no matter what?
I know the execution range error occurs sometimes when there’s a sudden move, but shouldn’t an SL-M order (as opposed to a limit order) avoid this problem? @MohammedFaisal
@siva @nithin, any solution for this? Basically, I’ve two queries:
a) is SL-M not fool proof?
b) if it isn’t, then is there any solution to this? Or it’s just one of those things we simply have to accept!?
In above case, nothing can be done.
Yes, one need to live with it, also there is nothing 100% fool proof as such, either in trading or life.
At least now you are aware that these kind of things can happen, said that this is not a common occurrence, rarely one faces it, most of the times at opening times when there is gap up or gap down or during market when there is sudden big jump in prices. More about execution ranges here.