SL-M vs SL-L in Quick Trade | FYERS Trader

Can I Place SL-M (Stop Loss-Market) and SL-L (Stop Loss-Limit) Orders With Quick Trade?

Yes — Quick Trade on FYERS Trader (https://trade.fyers.in/) supports both SL-M and SL-L for Intraday trades. These stop-loss types help you automate exits when your trigger price is reached.

How SL orders work in Quick Trade

  • SL-M (Stop Loss-Market): When the trigger hits, a market order is sent for immediate exit. Execution is fast but can involve slippage in volatile markets.
  • SL-L (Stop Loss-Limit): When the trigger hits, a limit order is placed at your chosen price. You control the exit price, but the order may remain unfilled if the market gaps past your limit.

To configure Stop Loss during Quick Trade setup, refer to this article.

What if...

ScenarioOutcome
I use SL-M in a fast marketExit is prioritized; fill may be at a worse price due to slippage.
I use SL-L and price gaps through my levelOrder can remain pending (unfilled) if liquidity isn’t available at the limit.
I don’t enable SL in Quick TradeA normal Intraday order is placed without protection. For more details, refer to this article.
Tip: Choose SL-M when a guaranteed exit is more important than price precision; choose SL-L when price control matters more than guaranteed execution.

Last updated: 09 Sep 2025