How to Use EXECUTE, EXIT, CANCEL, and MODIFY in Different Scenarios

📌 How to Use EXECUTE, EXIT, CANCEL, and MODIFY in Different Scenarios

Your trading system supports various execution methods, including:
✅ Market & Limit Orders (Above/Below Buy & Sell)
✅ Order Modification (Changing price, quantity)
✅ Order Cancellation (Cancel before execution)
✅ Exit Methods (Stoploss, Target, Manual Exit)
✅ Trailing Stoploss (Dynamically adjusting SL as price moves)

I’ll break down each scenario with detailed examples. 🚀

---

🔹 1️⃣ EXECUTE Order (New Trade Entry)

This places a BUY or SELL order in different conditions.

✅ Scenario 1: Execute a Market Order (Immediate Buy/Sell)

Order Placed:

✅ This will place an instant market order at the current price.

---

✅ Scenario 2: Execute a Limit Order (Buy Below or Sell Above)

Buy NIFTY at 19750 when price drops

Sell BANKNIFTY at 44200 when price rises

✅ These orders wait until the price hits the specified level before executing.

---

🔹 2️⃣ MODIFY Order (Change Price or Quantity)

Modify an existing order before execution.

✅ Scenario 1: Modify Order Price

Change NIFTY order price from 19750 → 19740

✅ This updates the pending order’s price.

---

✅ Scenario 2: Modify Quantity

Increase quantity of an open order from 1 to 2

✅ This updates the order size.

---

🔹 3️⃣ CANCEL Order (Stop a Pending Order)

Cancel an open order before execution.

✅ Scenario 1: Cancel a Pending Order

✅ If the order hasn’t executed yet, it gets removed.

---

🔹 4️⃣ EXIT Order (Close an Open Position)

Exit an already executed trade.

✅ Scenario 1: Exit Manually

✅ This closes the trade at the current market price.

---

✅ Scenario 2: Exit When Stoploss is Hit

If an active trade hits stoploss, it automatically exits.

Example:

• Buy NIFTY at 19800 with Stoploss 19750

✅ If the price falls to 19750, the trade exits automatically.

---

✅ Scenario 3: Exit When Target is Hit

If an active trade hits target, it automatically exits.

Example:

• Buy BANKNIFTY at 44100 with Target 44200

✅ If the price reaches 44200, the trade exits automatically.

---

🔹 5️⃣ Trailing Stoploss (TSL)

Trailing Stoploss adjusts dynamically as price moves in favor.

✅ Scenario 1: Set Trailing SL for a Buy Trade

• Buy NIFTY at 19800
• Trailing Stoploss moves up every 10 points

How it works:

✅ If price drops to the trailing stoploss, it exits automatically.

---

✅ Scenario 2: Set Trailing SL for a Sell Trade

• Sell BANKNIFTY at 44200
• Trailing Stoploss moves down every 20 points

How it works:

✅ If price rises to the trailing stoploss, it exits automatically.

---

🎯 Summary of All Scenarios