What is the difference between stoploss and stoploss market

What is the difference between stoploss and stoploss market my friends saying we can keep stoploss market certainvalue for ex

i bought a share for 4 rs and now its value is 6.5 rs if i want to exit i can keep stoloss market 6 so when it touches 5 also it will sell at 6 rs value only...is this is correct...

In a stop loss order you choose limit or market, but with a trigger price. What a trigger price does is that it activates your order

Example when you bought the stock at Rs 100, you will also place a sell stop loss order with a trigger price of 95. What this does is when the price of the stock goes to 95 or lower, a selling order is sent to the market. You can choose if you want to send this selling order as a limit order or market order. If you choose a SL order with a selling order as market price it is called SL-M, otherwise if you have to mention the limit price it is called a normal SL order.

so, the difference is simple if you place SL, it will place as limit price, and for SL-M it will place market price

Hello Trader,

Always use SL-LIMIT order.

If , you use SL-MARKET you sell order gets triggered at a set price but still could be sold for less than your trigger price.

Using SL-LIMIT makes sure that your sell order gets triggered at set price and sold only at the price above the trigger price.

@sasi1021 here how stoploss depends on time frame