Automate SL

[v5QpncDhu0 (Ajay)]

While defining the SL for the Nifty option sell via automate, do i need to input as negative number, or number . for example I need to set a stop loss of 50%. in stop loss whether do i need to input 50 or -50?

[kishore_krishna]

Hi @v5QpncDhu0 ,
You don’t have to specify -ve or +ve. Let’s say in this case you give a 50 Rs stop loss for a sell order; the buy order will be placed at 50Rs above of the traded price, and a 50 Rs target means 50 Rs below the traded price.

[v5QpncDhu0 (Ajay)]

Okay, thanks. I’m having one more doubt the stop loss percentage is applicable for the Option trade taken trade for depends on the spot. Coz in the tutorial video (https://fyers.in/community/t/automate-build-and-execute-rule-based-workflow-on-fyers-web/22929) on **Place order section **the stop loss placed for spot. i need to place for the option price

Automate: Build and Execute Rule-Based Workflow on FYERS Web

Have you ever felt that if emotions were taken out of trading, you would trade better? A lot of traders have a plan, but sticking to it consistently is the hard part. Before market hours, things are clear. You know what you want to trade and the rules you want to follow. But once the market opens, things move fast. Prices start moving quicker than expected. You either wait a little too long and miss your entry, or you enter earlier than planned. Then you look at your P&L, and you start making…

[v5QpncDhu0 (Ajay)]

Kishore Krishna Can u clarify the same?

[6Tx1zaRU4M (Aniket)]

Hi @v5QpncDhu0 ,
The Target Points field as highlighted in your screenshot , the input for that field in this case will be the option premium value and not the underlying NIFTY value. Since the instrument you are placing the order for is a NIFTY option 25600 CE buy, let’s the entry price (premium paid) is 100, the target can be around 60. Meaning that your target is hit when the 25600 CE price reaches 160.