To know about types of orders this will help you out:
Trigger price is the price at which the order will come into the market. Until the trigger price is reached, the order will not be in market and not get executed. It is used for placing SL or in the following cases:
1. you place a normal type of order with selling price lesser than the market price. The market will consider it as a wrong order and execute it immediately at current price.
2. you place a normal type of order with buying price higher than the market price. The market will consider it as a wrong order and execute it immediately at current price.
It can also be used for placing entries- buy orders above current price and sell orders below current price in market.
OR
The trigger price of an SL order is like a dummy price which when touched by the asset, places the order into the market.
The question now may arise as that why we can't place the SL order like normal because the exchange considers orders placed at a buy price higher than the current price as a mistake and squares it off at the current price.
The same applies when you wish to sell below the current market price, and is executed at market price.
So in this case when you
Buy:
Trigger price < Order Price
Sell:
Trigger price > Order Price
How much more should it be?
It should be at least 5 Paise more or less. The upper limit is your choice though.
Disclosed qty: In this only a portion of the actual quantity that we want to buy or sell is displayed to the market, for an example we want to buy 10000 qty of a share but we want to display that only 500 qty is displayed in the order display then we'll set 500 to the disclosed qty.
In case of SL orders the SL price you calculated using your technical analysis is your trigger price and your limit price in that case will be 5 or 10 paise up or down depending upon whether you're buying or selling.
Limit Price: The price at which you want your order to be executed. The buy or sell price is limit price.
Validity: The time for which your order should stay in the market, if it is pending.
IOC: If the price is met, the order is executed, otherwise cancelled.
Day: if the price is not met, the order will stay pending throughout the day until it is executed. Will get cancelled only when market closes for the day
How to place Robo Order: