Zerodha....

[Zerodha]

Zerodha, I am one of your newbie customer and I am extremely happy with your service.

I do need a specific help with the NOW Online app. How do I place a stoploss-market and a stoploss-limit order in NOW Online ?

Say I buy a PUT for 200 and I want to sell it automatically if the premium drops to 190. How should I tell NOW Online to place a

1. A stoploss to be activated if premium drops to 190 and a market order to go out.

2. A stoploss to be activated at 190 and a limit to go out (say for 185).

OTOH if the premium moves upto 220 and I want to sell the PUT, should I first manually cancel my outstanding stoploss ?

I am looking for a descriptive answer and hopefully you will tell me what to click, what values to select etc etc

Thanks...

1. SL-M is stop loss market... You have bought puts and hence your stop loss order will be selling order... So, choose sell order on the puts(scrip that you are trading).. In the drop down box (order type) choose SL-M and then choose a trigger price as 190.... When the puts go down to 190, your order gets triggered and the sell order hits the system as a market order...

2. SL-L is limit.. you press sell order on the put you are trading, choose SL- L in the order type... When you choose a sell stop loss, you can't have the limit selling price lower than the trigger price( it will become a market stop loss order)...in your case when trigger hits at 190 and you put a sell order at 185 , your order will become like a market order....

Thing you need to keep in mind is, a stop loss order gets activated at the trigger price...there is not much of a difference between SL-L and SL-M.. if you are trading small quantities it is better always to use SL-M, SL-L is better to be used when trading with big quantities as a market order at trigger price could push the value much lower...

For the last bit now, you can put a sell order after putting the stop loss, but the problem is it will be considered as a new position and margin would be blocked extra for that...

So, yes!! you will have to cancel your stop loss before you sell it so no extra margin is blocked...Also make sure to cancel all pending stop losses after you exit a particular contract... a lot of people forget to do it and get into fresh positions...

Cheers...

Sachin...

 

[sapillai]

Thanks...

1. SL-M is stop loss market... You have bought puts and hence your stop loss order will be selling order... So, choose sell order on the puts(scrip that you are trading).. In the drop down box (order type) choose SL-M and then choose a trigger price as 190.... When the puts go down to 190, your order gets triggered and the sell order hits the system as a market order...

2. SL-L is limit.. you press sell order on the put you are trading, choose SL- L in the order type... When you choose a sell stop loss, you can't have the limit selling price lower than the trigger price( it will become a market stop loss order)...in your case when trigger hits at 190 and you put a sell order at 185 , your order will become like a market order....

Thing you need to keep in mind is, a stop loss order gets activated at the trigger price...there is not much of a difference between SL-L and SL-M.. if you are trading small quantities it is better always to use SL-M, SL-L is better to be used when trading with big quantities as a market order at trigger price could push the value much lower...

For the last bit now, you can put a sell order after putting the stop loss, but the problem is it will be considered as a new position and margin would be blocked extra for that...

So, yes!! you will have to cancel your stop loss before you sell it so no extra margin is blocked...Also make sure to cancel all pending stop losses after you exit a particular contract... a lot of people forget to do it and get into fresh positions...

Cheers...

Sachin...

Dear Sachin/Zerodha, Thanks for the great reply. If I may, I still have couple of doubts...

1. I dont see a SL-M "order type", I only see a SL-L type. ( I only see Market, Limit and SL-L).

2. If I do a "Sell" and select order_type==Market and Trigger=190, will this order behave just like a SL-M Order ?

3. In SL-L orders why should the limit be greater than trigger ? In a fast falling market by the time the trigger is hit and the limit order is placed, the market could have moved too down for the limit order to be satisfied. Looks to me like in fast moving markets only SL-M makes sense.

Thanks for the patience. Just a newbie trying to figure out things.

 

[Zerodha]

Dear Sachin/Zerodha, Thanks for the great reply. If I may, I still have couple of doubts...

1. I dont see a SL-M "order type", I only see a SL-L type. ( I only see Market, Limit and SL-L).

2. If I do a "Sell" and select order_type==Market and Trigger=190, will this order behave just like a SL-M Order ?

3. In SL-L orders why should the limit be greater than trigger ? In a fast falling market by the time the trigger is hit and the limit order is placed, the market could have moved too down for the limit order to be satisfied. Looks to me like in fast moving markets only SL-M makes sense.

Thanks for the patience. Just a newbie trying to figure out things.

Leave me your phone number on india@zerodha ..... Will give you a buzz and take you through a demo....

 

[youngindian]

Leave me your phone number on india@zerodha ..... Will give you a buzz and take you through a demo....

Sachin - You guys still working on preparing demo's on how to use Now? You have told months back that you are planning to put NOW demos on your website.

Thanks,
Giri

 

[Zerodha]

Sachin - You guys still working on preparing demo's on how to use Now? You have told months back that you are planning to put NOW demos on your website.

Thanks,
Giri

Our bad Giri.... This thing took a back bencher as we were busy sorting out other issues... We have the videos ready, the voice has to be recorded over it, we realized the quality of audio will be really bad if we don't record it in a studio like environment....
We have made sure that we have given a live demo to every person who asked us for it...But this is something I will take onus on having fixed at the earliest...

Cheers...

 

[Zerodha]

Dear Sachin/Zerodha, Thanks for the great reply. If I may, I still have couple of doubts...

1. I dont see a SL-M "order type", I only see a SL-L type. ( I only see Market, Limit and SL-L).

2. If I do a "Sell" and select order_type==Market and Trigger=190, will this order behave just like a SL-M Order ?

3. In SL-L orders why should the limit be greater than trigger ? In a fast falling market by the time the trigger is hit and the limit order is placed, the market could have moved too down for the limit order to be satisfied. Looks to me like in fast moving markets only SL-M makes sense.

Thanks for the patience. Just a newbie trying to figure out things.

1. Can you leave me your client id on india@zerodha.. we will enable SL-M... You also need to download the new version to have the SL-M from our website..

2. Don't do that... ... If you choose order type as market, it will be a market order... For stop losses make sure you choose SL..

3. Yes, always better to use SL-M or use SL-L the way you have mentioned... otherwise a lot of times stops dont get activated...

Best of luck with your trades...

Cheers... Sachin..

 

[sylar123]

Is it me or everyone is experiencing nowonline.in really really slow?

Usually, I tend to use express in nowonline.in and it worked really fast to me but today I am not able to see any update on the screen. Also pressing any shortcut to open say trade book is taking more than a minute .

 

[sapillai]

1. Can you leave me your client id on india@zerodha.. we will enable SL-M... You also need to download the new version to have the SL-M from our website..

2. Don't do that... ... If you choose order type as market, it will be a market order... For stop losses make sure you choose SL..

3. Yes, always better to use SL-M or use SL-L the way you have mentioned... otherwise a lot of times stops dont get activated...

Best of luck with your trades...

Cheers... Sachin..

1. Sent the mail. I dont use the thick client. I only use the web interface.
2,3. Ok. Thanks for the advice.

 

[nileshkrishna]

Yesterday i sold out my TVS stocks( it was delivery stock and i selected CNC for selling). But it's still showing in ILFS demat and under holding section in Back office.Usually on the very same day i get sms from NSDL that my account has been debited but no such confirmation i got yesterday

 

[Zerodha]

Yesterday i sold out my TVS stocks( it was delivery stock and i selected CNC for selling). But it's still showing in ILFS demat and under holding section in Back office.Usually on the very same day i get sms from NSDL that my account has been debited but no such confirmation i got yesterday

Hi Nilesh,

Will check out why it is still showing up and get in touch with u.. Cheers..