How to place trigger order/stop-loss market order in Fyers Web?
Placing a trigger order, earlier known as a Stop order or Stop-loss market order, allows you to set a specific price point for executing your trade. Let's delve into the process:
Simply put, you're instructing the system to buy a scrip if the price rises to a specific price or sell if it drops to a predetermined level.
Steps to place a trigger order:
Open the Order Panel: Navigate to the scrip where you want to place the order and click on the Blue (for Buy) or Red (for Sell) button. This action will open up the order panel for you.
Check the box labelled 'Trigger Buy/Sell' and 'Buy/Sell at market price'.
Input details such as quantity and trigger price and finalise by clicking 'Buy' or 'Sell', as needed.
For instance, Ms. Y wishes to buy HDFC shares. With a Last Traded Price (LTP) of ₹2227.20, she decides to buy when the price hits ₹2227.25. In this scenario, she should input ₹2227.25 as the Buy Trigger Order.
Conversely, if she decides to sell when the price decreases to ₹2227.75 (with an LTP of ₹2227.80), she should input ₹2227.75 for the Sell Trigger Order.
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