Now you can add the quantity, buy/sell price, choose the exchange, and then click on advanced order.
Under advanced order click on ‘stop-loss order’
Select a trigger price, and a stop loss (maximum price till which you can incur losses)
Confirm your order and click on submit.
Your order will be placed successfully.
Now if the market does not perform as per your prediction and reverses its direction, then as soon as the stop-loss price is hit your sell/buy order gets triggered thus preventing you from facing much loss.
Let us understand how stop-loss works with the help of an example. Geeta wants to buy 100 shares of XYZ company at a price of ₹100 each. She is skeptical about the market is bullish, so she puts a stop loss at ₹96 and a trigger price at ₹97.
Thus, Geeta would be able to exit her position somewhere between ₹97-₹96 thus suffering the maximum loss of ₹4.
How to Put Trailing Stop Loss in Kotak Securities?
You can also put a trailing stop loss in Kotak Securities and also its different apps. Trailing stop loss as the name suggests is the one that trails or follows.
Kotak Securities gives you the chance to put the trailing stop loss on your order. Let us look at the procedure.
Log in to your Kotak Securities mobile app using your login ID and password.
Now on the ‘Place Order’ menu click on stocks or derivatives options.