How to modify the stop-loss?

In trading, stop-loss is one of the integral parts that help you in risk management. Generally, stop loss is placed along with the multi-legged orders such as Cover Orders and Bracket Orders. Once CO or BO is placed, you can easily modify the Stop-loss.

Let us understand using an example.

Mr. Bhaskar, a client of FYERS, is placing a Bracket Order in Manappuram Ltd. trading at the market (₹90.95) with a stop-loss set at ₹88 as shown in the image below:

 

As we can see, the order will be placed successfully as shown in the image below:

However, Mr. Bhaskar wants to trail his stop-loss to ₹89 as the market was moving in his favor. All he needs to do is drag and drop the Sell Stop order to ₹89, a order window will pop up as shown below:

The price you had dragged to will be displayed under the Trigger Price. Change or modify the stop loss if necessary and click on ‘Modify 1 Qty’. The Stop-Loss will be successfully modified.

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