Types of order and its validity
Types of Order:
- Limit Order: A limit order is an order to buy / sell a stock at a specific price. Example, if you want to buy shares of Wipro which is trading at Rs 295, but you do not want to pay more than Rs.280 for it, you can place a limit order to buy the share with a limit price of Rs.280
- Stop Loss Order: It
is an order placed with a broker to buy or sell once the stock reaches a
certain price. A stop loss is designed to limit an investor’s loss on a
security position. Setting a stop loss for 10% below the price at which you
bought the stock will limit your loss to 10%.
- Bracket Order: 5paisa provides bracket order wherein customer can take an intraday position and take an advantage of extra exposure while being protected through stop loss order and a profit objective (profit booking order)
- Cover Order: A cover order is a market order that is placed along with the stop loss order. In a cover order the buy/sell order is always a market order that is accompanied with compulsory stop loss order in a specified range as pre-defined by the system which cannot be cancelled.
- Buy Stop Order:A “Buy Stop Order” enables a customer to purchase a stock when it reaches a pre-specified price. Once the price hits that level, the buy stop becomes either a limit or market order, fillable at the next available price. For example: If the current market price is Rs.100 and you wish to buy the stocks at Rs.105 or above , then you can opt the SL function in which you can enter the limit price as 105 and trigger price as 104.Once the Market reaches 104 your order shall be triggered and executed at the best price available between order price and limit price.The buy stop order is to protect against bullish movement in a stock and it is a tool commonly used by the customers to protect against the potentially unlimited losses of an uncovered short position.
- Sell Stop Order:A “Sell Stop Order” enables a customer to sell a stock when it reaches a pre-specified price. Once the price hits that level, the sell stop becomes either a limit or a market order, fillable at the next available price. For example: If the current market price is Rs.100 and you wish to sell the stocks at Rs.95 or below, then you can opt the SL function in which you can enter the trigger rate at 96 and limit price as Rs.95, Once the market reaches Rs.96, your order shall be triggered and executed between the best price available between order price and the limit price.The sell stop order is to protect against bearish movement in a stock and it is a tool commonly used by the customers to protect against the potentially unlimited losses of an uncovered long position.
Validity:
1. DAY Order: A DAY order is valid till the End of Day, i.e. if the status of the order is showing as pending in the Order Book and remain as 'pending' throughout the trading hours, it will get canceled automatically as the market closes for the day.
2. IOC Order: An IOC Order allows the user to buy or sell a security as soon as the order is released into the system, failing which; the order is cancelled from the system. Partial match is possible for the order and the unmatched portion of the order is canceled immediately.
3. Valid Till Date (VTD): Once you place an order in VTD, your order will be valid till the date you have mentioned (maximum 45 days). You can place only cash delivery orders in VTD.
Note: We do not allow call/put writing for out of the money contracts.
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How many types of orders can I place on the FnO360 window?
You can trade with four types of orders- Normal Buy/Sell orders for Delivery/Intraday Basket Order Bulk Orders Multi order Rollover Trades Quick Reverse trade VTT Orders for derivatives
How to place an order?
To place an order, follow the below steps: Step. 1. Select the stock you want to place order for Step. 2. Right click on stock and click the buy/sell button Step. 3. Order entry window will open Step. 4. Select the type of order you wish to place ...
Can I place VTT order in derivatives?
Yes, you can place a VTT order in derivatives but only in equity derivatives.
How do I place Buy VTT order?
VTT Buy Order: This type of order is utilized to set up triggers for buying stocks intended for delivery. Once the trigger price is reached, a buy order is automatically executed at the specified limit price on the exchange. This order is applicable ...
How to Check status of VTT Order? Can I modify and cancel the VTT order?
Through Website: Path: Log in at www.5paisa.com >> Click on the context menu >> Click on Order and Position >> VTT Through Application: Path: App >> Click on User >> Click on Book >> VTT Note: You can Modify or cancel the VTT order from the VTT tab, ...