How to Place a Trigger Order/Stop-Loss Market Order in Fyers App
A trigger order, commonly known as a stop order or stop-loss market order, allows you to set a specific price for buying or selling. Specifically, buy trigger orders should be placed above the current market price, and sell trigger orders should be set below the current market price. In essence, this order type enables you to buy stocks at a price higher than the current market or sell them at a price lower than the current market.
Follow these steps to place a trigger order in Fyers App:
Navigate to the Desired Scrip: Locate the scrip you wish to trade and tap on the 'Buy' or 'Sell' button. This action will bring up the order panel.
Enter Order Details: Enter the quantity, check the 'Trigger Buy/Sell' box, and enter the trigger price.
Place the Order: Click on 'Buy' or 'Sell' as needed.
For example, if Ms. Y, a client of FYERS, wants to purchase shares of Indian Oil Corporation Limited (with a Last Traded Price (LTP) of ₹69.95) at ₹72, which is above the current market price, she should place the Buy Trigger Order at ₹72 as illustrated in the provided image.
Conversely, if Ms. Y desires to place a Sell order at ₹75.70 (with an LTP of ₹75.75), which is below the current market price, she should place the Sell Trigger order at ₹75.70, as depicted in the image.
Note: Stop-Loss Market (SL-M) orders aren't permissible for the options segment. For more details, kindly refer to this notice.
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