Hi all … suppose current price of a stock is 95 n i want to enter fresh ‘sell’ position (at mrkt price) if price goes to 100 … so i use sl-m sell order w trigger price 100 ?
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Nooooooooooo!!
Current price is 95.
You want to enter fresh sell if price goes to 100.
So you need to put in Limit Sell order with limit as 100.
This way you are telling the exchange - “The worst price I want to sell at is 100.”
All price points below 100 like 99, 98.6 etc are worse than 100. And all above like 101, 101.25 etc are better than 100.
So your order will remain pending in a queue of “limit sell orders @ 100”. As soon as price reaches 100 due to buying form other traders, your queue starts getting executed and as you number comes your order also gets executed. It may happen in illequid stocks that you may get your fill at 100, 100.50, 101 etc.
The idea "i want to enter fresh ‘sell’ position (at mrkt price) is not possible here.
You put in 100 limit order. And price reaches near by 100, within your limit zone like 99.50, 99.85 etc you can manually convert your order from limit to market and get it instantly executed. I also do it many times. Because it may happen that price reaches 99.95 and reverse from there never to trade at 100 and my order remains pending.
Tks fr ur reply brother … jst to b sure we r discussing ‘mis’ fresh sell position
I knw tht if i want to take fresh short position in mis thn putting a mrkt order whn price reaches 100 will suffice bt wht if i dnt want to sit continuously … i was wanting if some option thr whr i cn tell exchange tht i want to enter a fresh mis sell trade if price reaches 100 (present price 95) … is it possible ?
Also, pls tell tht in the abv exact scenario, it is quite possible to enter fresh buy position thru sl-m order rht ? (Curent price 95 n sl-m buy order w trigger price 100)
I got your this point waise since all price below 100 r lower n worse, so lmt order wnt b executed instantly … it will wait till price reaches 100
- Sell above Limit
- Buy below Limit
- Sell below StopLoss
- Buy above StopLoss.
If you know the “Breakout trade” and “Pullback Trade”
- For pullback entries use Limit
- For BO entries use SL.
Memorize these until you become comfortable.
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MIS, NRML, Margin are order types at Broker level only. Exchanges dont recognize them. So no difference.
Also Fresh position or exiting position is to be taken care by broker only. Exchanges do not look into that either ( I think)
Thats what I answered. Just put in simple Limit order in such pullback trades.
Yes in case you want to buy at 100 then for such BO trades SL or SLM oderes will do.
Thnks mad-dy
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In your case you can put SL price 25.40 /24.20/24 RS etc not more then 24.60
Exactly correct. I use it like this
LTP 25.60, Trigger Price should be 26.2 —> (Stoploss > 0.5)