Margin-plus order in ICICIDIRECT ( how to set both Stop-loss and Target price) MARGIN PLUS TRADING
Margin-plus order in ICICIDIRECT ( how to set both Stop-loss and Target price) MARGIN PLUS TRADING.
ICICIdirect’s Margin Plus is an intraday trading product that allows you to trade with enhanced leverage while managing risk through mandatory stop-loss orders.
Setting Stop-Loss and Target Prices in Margin Plus:
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Placing a Stop-Loss Order:
- When initiating a Margin Plus trade, you’re required to set a stop-loss trigger price (SLTP). This acts as a safety net, automatically exiting your position if the market moves against you beyond a specified point.
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Setting a Target (Profit) Order:
- After your initial order is executed, you can define a target price by placing a profit order. This allows you to lock in profits once the stock reaches your desired price level.
Steps to Place a Margin Plus Order with Stop-Loss and Target Prices:
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Log in to Your ICICIdirect Account:
- Access your trading account using your credentials.
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Navigate to the ‘Place Order’ Section:
- Choose the stock you wish to trade.
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Select ‘Margin Plus’ as the Product:
- Ensure you’re using the Margin Plus product for intraday trading.
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Enter Trade Details:
- Quantity: Specify the number of shares.
- Order Type: Choose between ‘Limit’ or ‘Market’ order.
- Stop-Loss Trigger Price (SLTP): Set the price at which the system will automatically exit your position to prevent further losses.
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Submit the Order:
- Review and confirm your order details to execute the trade.
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Place a Profit Order:
- Once your initial order is executed, navigate to the ‘Open Positions’ section.
- Select the position and choose the option to ‘Place Profit Order.’
- Specify your target price at which you wish to book profits.
Important Considerations:
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Mandatory Stop-Loss: Setting an SLTP is compulsory in Margin Plus to mitigate potential losses.
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Leverage: Margin Plus offers up to 5 times leverage, allowing you to trade larger positions with a smaller capital outlay.
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Intraday Nature: All Margin Plus positions are intraday and must be squared off before market closure.
For detailed information and guidance, refer to ICICIdirect’s official Margin Plus page.
In ICICIdirect’s MarginPLUS trading, you can manage your intraday positions by setting both a Stop-Loss and a Target Price. Here’s how to do it:ICICI Direct
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Steps to Set Stop-Loss and Target Price in MarginPLUS:
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Place a Fresh Order:
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Navigate to the F&O trading section and select ‘MarginPLUS’ as the product type.
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Choose your desired stock or contract.
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Specify the Action (Buy/Sell), Quantity, and Order Type (Market/Limit).
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Set the Stop-Loss (Cover SLTP) Order:
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Immediately after placing the fresh order, you’ll be prompted to set a Cover Stop-Loss Trigger Price (SLTP) and a corresponding Limit Price.
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The SLTP is the price at which the stop-loss order gets activated.
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The Limit Price is the price at which you wish to exit once the SLTP is triggered.
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Ensure that the SLTP is between the last traded price and the limit price.
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Set the Target (Cover Profit) Order:
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After your fresh order is fully executed, navigate to the ‘Open Positions’ page.
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Click on ‘Place Profit Order’ next to your position.
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Enter your desired Profit Limit Price.
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This order will execute when the market reaches your target price, allowing you to book profits automatically.
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Modifying Orders:
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Before Execution:
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You can modify both the fresh and cover orders before they are executed.
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Go to the ‘Orders’ section, find your order, and select ‘Modify’.
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After Execution:
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Once the fresh order is executed, you can still modify the cover SLTP and profit orders.
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Adjust the SLTP and Limit Prices as per market conditions.
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Note that the SLTP must always be between the last traded price and the limit price.
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Important Considerations:
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Mandatory Stop-Loss: In MarginPLUS, placing a stop-loss order is compulsory along with the fresh order.
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Optional Profit Order: The profit order is optional and can be placed after the fresh order is executed.
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Same Quantity: The quantity for fresh, stop-loss, and profit orders must be the same.
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Intraday Product: MarginPLUS is designed for intraday trading; all positions will be squared off before market close if not done manually.
For a visual guide on placing stop-loss orders in ICICIdirect, you can refer to the following video:
If you need further assistance or have more questions, feel free to ask!
