How does the auto setting for MPP work?
The 'auto' setting for Market Protection Price (MPP) in a Smart Limit Order automatically calculates the optimum MPP value for you. This feature ensures that the order is executed at the best possible price within the user's specified limits, without requiring manual input for the MPP.
Example:
Suppose you want to buy 100 shares of XYZ Company at a limit price of ₹100 per share. Instead of manually setting the MPP, you choose the 'auto' setting. The system will then automatically determine the best MPP, ensuring your order is protected against undesirable execution prices. This could result in an MPP that adjusts based on market conditions, providing you with the best possible execution price within a 0 to 3% range of the Last Traded Price (LTP).
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