What are stop loss orders and how to use them?

Stop loss orders are another popular order type. They're designed to help traders manage their risk by automatically selling a security when it reaches a certain price. Basically, when you place a stop loss order, you specify a "stop price" - which is the price at which the order will be triggered. If the security price falls to (or below) that price, the order will be executed as a market order.

Ex: Suppose CMP of Axis bank is Rs. 600 and you want to limit your loss, if the price goes below Rs. 590 then you have to give input in SL section as 590 so the if the price reaches to Rs. 590 or below of that, as you mentioned your SL as Rs. 590, your order will automatically execute at Rs. 590.

There are two types of Stop Loss orders available on Tiqs-

1. Stop loss Limit Order: Click here to know more.
2. Stock Loss Market Order: Click here to know more.