In trading, square-off means exiting your long or short positions. Also, squaring off at right time can save you from losses in trade. If you are a trader with Upstox and don’t know how to square off in Upstox we are presenting a complete guide for you.
How to Square off Position in Upstox?
Now when placing an intraday trade, it becomes important to close the open position before the market closes. Every broker has their own square-off time. Upstox square-off time is 3:00 PM. Now if you fail to close your position before time, the broker auto-square off your position and levies a penalty on you.
This might increase your losses or reduces the profit percentage.
Having said that, you may also choose to add a stop loss while placing your trade. Here is a quick intro on how to put stop loss in Upstox, by the way.
Now to square off the position follow these steps to square off your holdings in Upstox.
- Click on the ‘Trade Button’ located at the bottom bar of the Upstox trading app.
- Now click on ‘Holdings’ and click on the stock you want to square off.
- Click on the ‘Exit’ button and select the exchange i.e BSE or NSE.
- The exit position page will pop up with some prefilled information.
- Now enter the quantity (Number of shares) and desired price for which you want to square off.
- Click on the ‘Review’ button.
- In the transaction approval section, you have to apply T-PIN.
- Once the transaction is approved by the exchange and Exit Summary page will pop on the screen.
- Review the details shown on the Exit Summary page and slide the ‘Slide to Submit Order’ button.
- After submission, a square-off request will be placed and a message will appear on the screen confirming the request.
