In my previous article I show you how to place a bracket order in trade tiger. In my this article I show you how to place a Trailing stop loss order in trade tiger. Placing a trailing stop loss order is very easy process. In bracket order we are placing a stop loss order along with our target order. In trailing stop loss order we are trailing our stop loss order. If market moves one point above than your stop loss order also moves one point above. So with this we can protect our gains.
If you don’t know what is bracket order than I highly recommend you to read my article on how to place a bracket order in trade tiger.
- In order to place a trailing stop-loss order. First step you have to do is login in your trade tiger platform.
- After that right click on your scrip in which you want to place a trailing stop-loss order & select (Buy Bracket+TSL) option. It will opens new bracket order window with trailing stop-loss option.
- In my How to Place a Bracket Order in Sharekhan Trade Tiger article I already shows you how to set your target & stop-loss order in under bracket order. The only thing that is remained is trailing stop-loss order. So for this article I’m thinking you are already know how to enter target & stop-loss order value. So in this example I’m going to place trailing stop-loss order for Reliance.
- In trailing stop-loss order you have two option. Either your stop-loss start trailing at market price or your preferred price value. So let me explain these things little bit more.
- So if you choose the Market price option then your stop-loss order start trailing at the market price. So what it mean if you enter the 0 in above price box (Market Order) then your trailing stop-loss is start trailing at Last Traded Price (Market Price) of that stock. But If you enter your own limit value in the price box let’s say 921 then your stop-loss start trailing at 921 & system consider 921 as your market price because your order execute at 921 price.
- So as you saw in above image if I enter the 921 in price box & select the market price as my trailing stop-loss starting price then my stop-loss order start trailing at 921 price.
- So if you choose the when price reach option then your stop-loss start trailing when market price at your given price value that you enter into your trailing stop-loss order box.
- So for example if I enter 925 in trailing stop-loss order box & my buying order price is 922 so then whenever the market price reached at 925 then my stop-loss order start trailing.
- So now this is the example of bracket order with trailing stop-loss order. Now read & understand this with your little more focus. Im going to place this order on reliance industries & the conditions are below.
The current market price of Reliance Industries is 919 & my order details are below:-
- Buying price: 921
- Target Price: 935
- Stop-loss Price: 916
- Trailing Stop-loss Condition: Market Price (Which means 921)
- Click on this GIF image to see in full screen.
- So in this example my trailing stop-loss starting point is 921. So whenever the market moves 921 to 922 then my stop-loss also moves 916 to 917 & so on.
- We are placing trailing stop-loss order when we want to protect our market gains.
- If the market moves one point above from your trailing stop-loss value than your trailing stop-loss order also moves one point above.
- If my trailing stop-loss value is 921 than if market moves above 921 let’s say 922 than my stop-loss also moves from 916 to 917.
- Experiment with this order with less order quantity to get more used to it.
- If you have any question then write your comment down below.