Trading is risky and can lead to losses and therefore here is the option for traders where they can use stop-loss orders? If you are having an account with one of the topmost stockbrokers, Zerodha then here is the detailed information on how to set stop loss in Zerodha?
How to Set Sell Stop Loss in Zerodha?
When placing a buy order you need to place sell SL order. For this follow the steps below:
- Login to your account using your login credentials.
- From the watchlist select the stock you want to buy.
- Tap on Buy Option.
- On the Buy window, enter the quantity and the price (limit or market).
- Now select the product type (intraday) and the tap on SL option.
- To set stop loss enter the trigger value.
- Swipe left to place Buy Order.
How to Set Buy Stop Loss in Zerodha?
When doing shorting, the trader has to set a buy stop-loss order. Here unlike sell stop loss, the trigger price is more than the entry price (limit or market price).
To set the stop loss buy order follow the steps given below:
- Log in to the Zerodha app.
- Select the stock you want to short-sell.
- Choose the SELL option.
- On the sell window, enter quantity, price, and product type.
- Now enter the SL option and enter the trigger price.
- Swipe to Sell the order.
When placing the stop loss you are provided with two different options:
SL order: Here the trader can set two values, price and trigger price to limit the losses. The trigger price is more than the price in the case of a sell stop-loss order while it is less than the price in a buy stop-loss order.
If the stock price goes south then the alert will be sent to the exchange at the trigger price while the order gets executed at the next available price.
SL-M order: Under SL-M order the order gets executed at the trigger price and thus the order gets executed at the market price.
NOTE: If you are selling your MIS order on the same day then that will be treated as an intraday order.
If you would like to know more about stop-loss and how to set stop-loss in Zerodha, please fill out the form below and submit your query. We will call you back.
