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:

1. 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.

2. 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:

1. Log in to Your ICICIdirect Account:

   • Access your trading account using your credentials.

2. Navigate to the ‘Place Order’ Section:

   • Choose the stock you wish to trade.

3. Select ‘Margin Plus’ as the Product:

   • Ensure you’re using the Margin Plus product for intraday trading.

4. 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.

5. Submit the Order:

   • Review and confirm your order details to execute the trade.

6. 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:

• Mandatory Stop-Loss: Setting an SLTP is compulsory in Margin Plus to mitigate potential losses.

• Leverage: Margin Plus offers up to 5 times leverage, allowing you to trade larger positions with a smaller capital outlay.

• 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.