A stop-loss order is placed to buy or sell a stock when it reaches a specified price. It serves as a risk management tool, primarily intended to limit losses on a stock already in your portfolio.
The price set in the stop-loss order represents the maximum acceptable risk for that stock. This order can be either a limit order or a market order.
You can read more about stop-loss orders here.
How to place a Stop Loss order ?
Step 1: To initiate a stop-loss limit order, follow these steps:
In the order type section, select 'SL Lmt.'
Specify the desired 'Price,' indicating the level at which you want the order to be executed.
Enter the 'Trigger Price,' which serves as the activation point for the order.
Step 2: To place a stop-loss market order, you need to select 'SL Mkt' in the Order type section and enter the 'Trigger Price'.
