Imported from previous forum
Hi I need to know that is it possible to place a limit buy order with stop loss.which tag is required for that?
any help will be appreciated.
[ original email was from Harish Kamaley - harish.kamaley@wipro.com ]
A stop order to buy which becomes a limit order at the limit price when the security trades at - or above - the stop price after the order is represented in the Trading Crowd.
A stop order to sell which becomes a limit order at the limit price when the security trades at - or below- the stop price after the order is represented in the Trading Crowd.
Use the combination of Tag 44(price) and Tag 99 (StopPx) to represent StopLimit order.
e.g. A’ short sells XXXX shares at Rs 325 in expectation that the price will fall. However, in the event the price rises above his buy price ‘A’ would like to limit his losses. ‘A’ may place a limit buy order specifying a Stop loss trigger price of Rs 345 and a limit price of Rs 350. The stop loss trigger price (SLTP) has to be between the last traded price and the buy limit price. Once the market price of Reliance breaches the SLTP i.e. Rs 345, the order gets converted to a limit buy order at Rs 350.
lly, Stop Loss Sell Order
‘A’ buys XXXX at Rs 325 in expectation that the price will rise. However, in the event the price falls, ‘A’ would like to limit his his losses. ‘A’ may place a limit sell order specifying a Stop loss trigger price of Rs 305 and a limit price of Rs 300. The stop loss trigger price has to be between the limit price and the last traded price at the time of placing the stop loss order. Once the last traded price touches or crosses Rs. 305, the order gets converted into a limit sell order at Rs. 300.
HTH
Regards
Harish
Hi I need to know that is it possible to place a limit buy order with
stop loss.which tag is required for that? any help will be appreciated.
[ original email was from Harish Kamaley - harish.kamaley@wipro.com ]
Hi, In addition to the below posting,
Use (OrdType)40=4(StopLimit) and combination of 44(Price) and 99(StopPx)in 35=D(NewOrderSingle) message
Regards
A stop order to buy which becomes a limit order at the limit
price when the security trades at - or above - the stop price after the
order is represented in the Trading Crowd.A stop order to sell which becomes a limit order at the limit price when
the security trades at - or below- the stop price after the order is
represented in the Trading Crowd.Use the combination of Tag 44(price) and Tag 99 (StopPx) to represent
StopLimit order.e.g. A’ short sells XXXX shares at Rs 325 in expectation that the price
will fall. However, in the event the price rises above his buy
price ‘A’ would like to limit his losses. ‘A’ may place a limit buy
order specifying a Stop loss trigger price of Rs 345 and a limit
price of Rs 350. The stop loss trigger price (SLTP) has to be
between the last traded price and the buy limit price. Once the
market price of Reliance breaches the SLTP i.e. Rs 345, the order
gets converted to a limit buy order at Rs 350.lly, Stop Loss Sell Order ‘A’ buys XXXX at Rs 325 in expectation that
the price will rise. However, in the event the price falls, ‘A’ would
like to limit his his losses. ‘A’ may place a limit sell order
specifying a Stop loss trigger price of Rs 305 and a limit price of Rs
300. The stop loss trigger price has to be between the limit price and
the last traded price at the time of placing the stop loss order. Once
the last traded price touches or crosses Rs. 305, the order gets
converted into a limit sell order at Rs. 300.HTH Regards Harish
Hi I need to know that is it possible to place a limit buy order with
stop loss.which tag is required for that? any help will be
appreciated.