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I’m getting the error “Trigger price can’t be higher than price” or “Trigger price can’t be lesser than price” when I try to place a Stop Loss order at Zerodha, Why is this?

You will see this error for stop-loss orders when the trigger and limit prices for the order are entered incorrectly. A stop-loss order requires a trigger price and a limit price. Once the trigger price is met, your order is placed at the limit price. You will see this error in the following cases:

  • Buy stop-loss orders : If the stop-loss trigger price is higher than the limit price.
  • Sell stop-loss orders : If the stop-loss trigger price is lower than the limit price.

If orders are placed as described in the cases above, the orders will end up as a pending order and fail to execute.

Example Scenario

Assume that you hold a stock currently trading at ₹100 and place a trigger price of  ₹95 and limit selling price of  ₹96. Once the trigger is met at  ₹95, a limit sell order is placed with a price of ₹96. Since this limit order is higher than the current market price, it will turn into a pending order and fail to execute. The order is most likely to execute by entering a limit order lower than ₹95.

Ensure that the trigger price entered is lower than (or equal to) the limit price while placing a buy SL order and trigger price higher than (or equal to) the limit price for a sell SL order. See What are stop loss orders and how to use them?

Did you know? You can use stop-loss market(SL-M) orders where the order is placed at the market price once the trigger is hit. This way you won’t face the above error of stop-loss not being executed. However, Stop-loss market orders are not allowed for options. See What are stop loss orders and how to use them?