You still online?
If yes reply and I will explain.
This thread is rethinking me if I am making my Stop losses correctly 
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Kudos… Lots of patience in helping out the confused ones. 
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IF orders are getting executed as per your wish means you are doing it correctly.
I remember durinig my first few trades I used to put my SL as limit only and hence exit the trade I had enetered just moments back.
Conversely I used to put in limit Buy order at much higher prices (BO trades) and wonder why order executed instantaneously.
Yes! Please explain me 
Ok
See the pic and tell me what is the LTP?
It’s 25.60
Right!
- If you see the simple drawing I posted. For Sell SL orders.
LTP > Trigger > Price (ie Limit Price)
So if LTP is 25.60, You should have entered any price below 25.60
You entered 26!!! So as the warning told you in plain simple english:
Now tell me what was in your mind when you put in trigger price as 26. Tell me what you want to achieve in that order in plain english.
Being a new trader sometime it’s just hard to understand even small things. Thank you for clearing me. Just my mistake! I thought that Trigger price should run above last traded price.
So
LTP 25.60
TRIGGER 25.55
PRICE 24 Right?
If I set like this what would be the difference comparing with Sell LIMIT ?
Just to add some value to this thread let me explain one more thing.
In SL order types trigger price is the MAIN price point.
The limit price is secondary. It is just to manage slippages.
If you are having a existing position and for exit you entered SL order with limit price, then as explaiined in my earlier reply it may happen that due to illequidity LTP may jump from 25.55 to directly 23.95, and your SL order remian pending as a limit sell order at 24.
So its better to use SLM orders for exiting positions in losses.
Also the example you have given is theoretically correct but practically wrong and useless.
If LTP is 25.60 and yo uput trigger of 25.55. It will trigger instantaneously as prices move 10-20-30 paisa up down constantly. And then as your limit is 24, your order get filled at or near 25.55 only.
So if you want to exit at 25.55 only just put in market order or limit order, why use so complex order type.
And that’s why I asked you to tell me what you want to achieve in that order in plain english.
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Very informative.
So when using SL Market Sell,
If LTP is 25.55 what should I put in Trigger price ?
Higher or Lower than LTP ? (25.45 or 25.65)
And what are the Advantages and Diadvantages compared to SL Sell ?
While trading tomorrow you will have to visualize the order processes and get hang of it ok. I will tell in 7 sentences now.
Both for SL-L and SL-M order is same. For sell trigger is to be below LTP as any price point above LTP is already triggered if we look from up towards down.
Vice versa for the Buy.
If LTP is 25.55. The if I want to fresh sell or exit long I can put any trigger from 25.50 to 0.05.
For SL-L Limit price will be also from 25.50 to 0.05.
Trigger and limit prices can be same also.
Usually Trigger prices should be away from the LTP and Limit prices in trigger orders be as nearer to trigger as possible.
LTP 25.55
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Trigger 24.00
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Limit Price 24.00 or 23.95 or 23.90 etc etc
I cant help you further unless you reveal what you want to achieve by using SL orders? It is possible that what you want to achieve is achievable by limit or market orders.
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that was intended as plain humour. Didnt went through
Let me try tomorrow in real trading and I’ll come back if It doesn’t work.
Thank you so much.
Hats off to your patience…
I successfully applied it yesterday! Thank you so much for being helpful. @maddy_Des Let’s hope our chat is also worth reading for others those who have problems regarding Stoploss.
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Normally, casual Stop Loss order are applicable only after trade(long/short position) execution completed.
Many new traders confuse that they can place casual(free charge) stop-loss at the same time with trade order.
Free services, casual stop-loss not available for execution with trade entry, except in special paid order like BO or CO order, where traders can placed stop-loss order together with trade entry(with extra brokerage charge)…
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Hey, What are you saying bro?
Never heard of this “Casual” orders.
You can Put SL orders to enter the trade (fresh entry) whenever you want to trade Breakouts.
You wanted to buy at 25.50. The present market price is Rs. 25.60. You want to sell at Rs. 26.00. When the market price is Rs. 25.60 how can you put your trigger at Rs. 26.00. First you have to buy at Rs. 25.50 and then you have to put limit order for sell at Rs. 26.00
For stop loss order
when it is sell order the trigger price should be higher than limit price as you are using stop loss order to prevent loss when the price falls lower than the present LTP.
when it is buy order the trigger price should be lower than limit price as you are using the stop loss to prevent loss when the price falls higher than the present LTP
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Dear,
Do you know that Stop Loss order type can be used to “enter” new positions and is not always or exclusively used just to limit the losses when already in position?
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