Slm order execution

Can I place SLM buy order for price lesser than market price prevailing and sell order higher than prevailing market price?

But why would you want to do that?

If you want to wait to buy till price reduces to certain level, just punt in limit buy. Vice versa for selling.
SL orders can be used to enter on Break outs.

you can its same like SL order with guarantee , you can do that for fresh positions , but beware of slippages in non liquid scrips.

SLM BUY order at price less than LTP.
Won’t it get executed instantly at best offer?

yes correct , same like SL

I think you are not getting it bro.
Here we are not discussing abt “SL” and “SLM”.
Here he is asking abt “SL” or “SLM” buy order below the LTP.
If you are putting in either “SL” or “SLM” order Buy below LTP and Sell above LTP, it will be treated as market order and execute instantly.

Yes , it depends on if it is BUY SLM or SELL SLM

Example : If ltp is 100

If you put 105 SLM buy , it will trigger immediately because 100 is best than 105 for buying

If you put 105 SLM sell , it wont trigger

If you put 95 SLM sell , it will trigger immediately because 100 is best than 95 for selling

If you put 95 SLM buy , it wont trigger

And you again got everything wrong!! Lemme correct

Example : If ltp is 100

If you put 105 SLM sell , it will trigger immediately because 100 is best than 105 for buying

If you put 105 SLM buy, it wont trigger

If you put 95 SLM buy, it will trigger immediately because 100 is best than 95 for selling

If you put 95 SLM sell, it wont trigger

Yea sorry I was thinking something else, you are correct.

105 SLM sell means , already price breached 105 and now its 100 , so it will trigger that position.

For trading breakouts we put SL/SLM orders.
For trading pullbacks we put limit orders.