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Margin-plus order in ICICIDIRECT ( how to set both Stop-loss and Target price) MARGIN PLUS TRADING

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Margin-plus order in ICICIDIRECT ( how to set both Stop-loss and Target price) MARGIN PLUS TRADING.

https://www.gyanodhan.com/video/6A.%20ICICIDIRECT/698.%20Margin-plus%20order%20in%20icicidirect%20%28%20how%20to%20set%20both%20Stop-loss%20and%20Target%20price%29%20MARGIN%20PLUS%20TRADING.mp4

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:

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

Steps to Set Stop-Loss and Target Price in MarginPLUS:

  1. Place a Fresh Order:

    • Navigate to the F&O trading section and select ‘MarginPLUS’ as the product type.

    • Choose your desired stock or contract.

    • Specify the Action (Buy/Sell), Quantity, and Order Type (Market/Limit).

  2. Set the Stop-Loss (Cover SLTP) Order:

    • Immediately after placing the fresh order, you’ll be prompted to set a Cover Stop-Loss Trigger Price (SLTP) and a corresponding Limit Price.

    • The SLTP is the price at which the stop-loss order gets activated.

    • The Limit Price is the price at which you wish to exit once the SLTP is triggered.

    • Ensure that the SLTP is between the last traded price and the limit price.

  3. Set the Target (Cover Profit) Order:

    • After your fresh order is fully executed, navigate to the ‘Open Positions’ page.

    • Click on ‘Place Profit Order’ next to your position.

    • Enter your desired Profit Limit Price.

    • This order will execute when the market reaches your target price, allowing you to book profits automatically.

Modifying Orders:

  • Before Execution:

    • You can modify both the fresh and cover orders before they are executed.

    • Go to the ‘Orders’ section, find your order, and select ‘Modify’.

  • After Execution:

    • Once the fresh order is executed, you can still modify the cover SLTP and profit orders.

    • Adjust the SLTP and Limit Prices as per market conditions.

    • Note that the SLTP must always be between the last traded price and the limit price.

Important Considerations:

  • Mandatory Stop-Loss: In MarginPLUS, placing a stop-loss order is compulsory along with the fresh order.

  • Optional Profit Order: The profit order is optional and can be placed after the fresh order is executed.

  • Same Quantity: The quantity for fresh, stop-loss, and profit orders must be the same.

  • 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!