What is a Stop Loss order?

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.

If you’re using the updated version of the Upstox app, read this. 

How to place a Stop Loss order (New App)? 

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'.

If you’re using the older version of the Upstox app, read this.

How to place a Stop Loss order (Old App)?

A stop-loss limit order is executed precisely at the price you specify. The stop loss serves as a trigger, validating the order.

To place a stop-loss limit order:

Select SL LMT in the order type section while placing an order.

Enter both the Buy price and the trigger price during order placement.

A stop-loss market order is swiftly executed once your stop loss is triggered. This order is fulfilled at the prevailing market price.

To place a stop-loss market order:

Select SL MKT in the order type section.

Enter the stop-loss (Trigger price).