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The types of orders that you can place using your Upstox Pro web trading platform and Upstox Mobile Application. Upstox Order Types can be divided into two broad categories: Simple orders and Complex orders.

Upstox Order Types

About Upstox

Upstox (earlier RKSV Securities) is a discount broker with flexible charges in brokerage, good for traders who look for low brokerages, high margins, and decent trading platforms.

And best for invstors who can now invest their money without any brokerage if they opened their account with upstox.

Upstox offers fix brokerage plans of Rs. 20 (Basic) or Rs. 30 (Priority) per trade irrespective of the trading volume. You can save huge money on brokerage charges if you trade high volumes regularly.

Let’s assume you do minimum monthly trading of 10,00,000 rupees with 10 trades (20 if we include buying & selling side)

Upstox Order Types - Arable Life

Simple Orders Types

Limit order

A limit order is when you wish to purchase or sell a scrip (Security) at a certain price. When you place a limit order it will be executed only when the scrip reaches that price. IF you have selected a Limit Price at Buy Order entry then you have to give below the market price. And if you have selected a Limit Price at Sell Order entry then you have to give above the market price.

Upstox Order Types - Arable Life

Market Order

A market order is when you wish to purchase or sell a scrip (Security) at the prevailing market rate. A market order will be executed at whatever market rate is prevalent at the time the order is placed.

Stop-Loss Order

An order placed to sell a scrip (Security) when it reaches a certain price is called a stop-loss order. The stop loss order is primarily meant to limit your loss on a scrip that you have already purchased. The price you mention in the stop-loss order is the highest risk that you are ready to take as loss on that scrip.

A stop-loss order can be a limit order or a market order.

Stop-Loss Limit Order

As mentioned above, a stop-loss limit order will be executed at the price that you want the order to be executed at. The stop-loss is a mere trigger to validate the order. In this kind of stop loss order both the trigger and the limit price are to be given by the trader. In case of a buy stop loss limit order the Trigger Price < Limit Price and in case of a sell stop loss limit order the Trigger Price > Limit Price.

This order is used to exit from the position if stock is moving at unfavorable direction.

And also can be used to enter at price break out level.

To learn more about Price Breakout trading strategy click the link below.

Stop-Loss Market Order

The stop-loss market order is when once your stop-loss is triggered and the order will be placed at whatever price is prevalent in the market. In this kind of stop loss order, only the trigger price is to be mentioned. Once the trigger price is hit, the order becomes a market order and is sent to the exchange.

This is the Same type of Stop-Loss order but the only difference between Limit and Market Stop-Loss order is that there is need to enter the limit order for Limit Stop-Loss order.

Complex Orders Types

Mentioned above were simple orders with just one leg. However there are also two complex orders, which combine two legs.

Cover Order

This is a special order type which has a market order and a stop loss market order attached to it. In this type of special order, the first leg is always a market order; once executed, the second leg (the stop loss market order) is placed. The stop loss order cannot be canceled. Both orders are interconnected. The order can be modified up to the Last Traded Price (LTP) in the case of a favorable market movement.

This is a special order type that has two different legs: 1st Leg: Limit Order / Market Order 2nd Leg: Stop loss Market Order.

After Market Order (AMO)

AMO or After Market Order is for those people who are busy during market hours but wish to participate. You can plan your orders at leisure after researching about the markets before the market opens and place an order after the market closes.The AMO (After Market Order) timing for Cash, F&O, Currency segment is 6.30 pm to 12.00 am and 4.00 am to 9.00 am and for MCX segment is 4.00 am to 9.45 am.

References

  1. Stock Market Order Types – Arable Life
  2. New Upstox Account Opening