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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 might get an error in the following cases.

The stop loss (SL) order has two price components to it.

1) The stop loss price, also called the stop loss limit price

2) The stop loss trigger price, simply called the trigger price.

Based on your trade position i.e. SL buy or SL sell the SL and the trigger price should be adjusted.

Scenario 1: When a sell SL order is placed.

When you place a sell Stop Loss [SL] order, the trigger price should be higher than the limit price. However, if the trigger price entered is lower than the limit price, then the following error will pop up.

To solve this, ensure that the trigger price entered is higher than the limit price while placing a sell SL order as shown below.

Scenario 2: When a buy SL order is placed.

When you place a Buy Stop Loss [SL] order, the trigger price entered should be lower than the limit price. However, if the trigger price entered is higher than the limit price, then the following error will pop up.

The error will be displayed as follows.

To solve this, ensure that the trigger price entered is lower than the limit price while placing a buy SL order as shown below.

The rules to be kept in mind when placing SL orders are - Buy SL orders can be placed only above the current market price, & sell SL orders can only be placed below the current market price.

In both scenarios, SL can be equal to trigger.

So in the example below the SL price and the trigger price are the same. Since the trigger price is Rs. 220/-, the moment the stock is traded at Rs 220/-, the order will trigger with a buy price at Rs. 220/-. If the stock is available at Rs 220/- or below it will be bought immediately. If it is higher than Rs 220/- by the time your order is placed (this may happen due to swift movement in prices) your buy order will stay at Rs 220/- and will be filled when a seller is available at this price. To solve this problem we recommend placing the trigger price lower or higher than the limit price depending on buy or sell order to have a better chance of the order getting executed.

If the above rules are not followed, the order will get rejected & the above errors will be displayed.

To know more about SL order, click here.