Is it compulsory to have trigger price in SL Bracket order ? There was a link on SL Bracket order on the forum. Cannot find it. Please share as it had lot of discussion around it
@tahseen, There are 2 ways to enter a BO position: 1. with SL entry(Trigger price)- If you want to buy at a price higher than LTP(you want your buy order to go through when stock X hits 105 when the LTP is 100) 2. with Limit entry- If you want to buy at a price lower than LTP or at market price(you want to your buy order to go through when stock X hits 98 when the LTP is 100)
And does the order starts filling the moment trigger price and upto the SL Order Price ?
This will be for BO with SL entry. As soon as your trigger is hit, say 105(explained in the example above), a limit order will be sent to the exchange at the limit price you entered(say 106). So your order will get filled at whatever sellers are available between 105 and 106. Child orders for stoploss and target will be opened in the order book for the same.
For short BO positions, it works the other way around.
For SL Bracket Order Buy
Trigger Price is less than Buy Price
For SL Bracket Order Sell
Trigger Price is greater than Sell Price
And does the order starts filling the moment trigger price and upto the SL Order Price ?
There are 2 ways to enter a BO position:
1. with SL entry(Trigger price)- If you want to buy at a price higher than LTP(you want your buy order to go through when stock X hits 105 when the LTP is 100)
2. with Limit entry- If you want to buy at a price lower than LTP or at market price(you want to your buy order to go through when stock X hits 98 when the LTP is 100) This will be for BO with SL entry. As soon as your trigger is hit, say 105(explained in the example above), a limit order will be sent to the exchange at the limit price you entered(say 106). So your order will get filled at whatever sellers are available between 105 and 106.
Child orders for stoploss and target will be opened in the order book for the same.
For short BO positions, it works the other way around.
So thank you very much. Admin can close this thread