Knowledge Base

The Samco app supports four order types. Choosing the right one depends on how you want your trade to be executed.

Market (Mkt) A Market order is executed immediately at the best available price in the market at that moment. You do not set a price the order gets filled at whatever price the market offers. This is useful when you want fast execution and the exact price is not a concern. Keep in mind that during high volatility, the execution price may differ slightly from the last traded price.

Limit A Limit order lets you set a specific price at which you want to buy or sell. The order will only execute if the market reaches your specified price or better. If the price is not reached during market hours, the order remains pending and gets cancelled at the end of the day (for Day validity orders).

SL-M (Stop-Loss Market) An SL-M order is a stop-loss order where you set a trigger price. Once the market hits your trigger price, a Market order is placed automatically. This is useful when you want to limit your losses and prefer fast execution over price control once the stop is triggered.

SL (Stop-Loss Limit) An SL order works similarly to SL-M but with an additional limit price. Once the trigger price is hit, a Limit order is placed at your specified price. This gives you more price control but there is a risk that the order may not execute if the market moves past your limit price quickly.