What is the SL order type?

Stop-loss is an advanced order facility that helps you sell your stock if it falls to a predefined price. It is designed to minimize losses and is used by traders who are unable to constantly track the price movement of their securities.

One can limit his/her losses by exiting a trade if the stock price reaches the specific stop-loss price.

Buy stop-loss orders are placed above the market price. Sell stop-loss orders are placed below the market price.

Click here to read more about SL orders.