Automatic Stop Loss Order Placing using Hotkeys

The veteran daytrader’s keep saying it all the time “Cut your losses short”. Exit your loosing trade positions before it drowns you. Always place a stop loss order.

We keep hearing it , reading about it, but we never practice it. Why ?

The trading terminals we use in India are designed for investors and not for daytrading.  The tedious order placing process on these terminals stops many daytrader’s from placing a stop loss order immediately.

An important feature I wished to see on my trading terminal was an option for automatic stop loss orders. A feature that will place a stop loss order automatically along with my intraday trade entry order.

You might say, there are Bracket Orders and Cover orders, isn’t it ?  I have never found the Bracket and Cover orders practical. Because these order types are compatible only for a selected few stocks. The manual calculation involved, calculation of percentages, is it practical ? No. I wanted to get this situation sorted.

With a bit or research, I have discovered a One click Hotkey solution.

Automatic Stop Loss Orders


One click on the mouse to enter the trade and automatically place a stop loss order immediately.

In my setup the stop loss orders gets placed at 1 INR below the LTP. All this is done automatically while I sit back and watch.

If you are a someone researching into a similar solution, what you need to look for is the X-mouse Software. The whole process is automated using the free X-Mouse button control software.

I use the NOW Trading Terminal and customized the Hotkey sequencing for this terminal.

With a bit of effort you can get the same solution customized for any trading terminal you use.

X-Mouse HOTKEY sequencing for entry and automatic stop loss orders on The NOW Trading Terminal:

LONG trade entry sequencing code with STOP LOSS (1 INR) for STOCKS: ( updated version )


SHORT trade entry sequencing code with STOP LOSS (1 INR) for STOCKS: ( updated version )


LONG trade entry sequencing code with STOP LOSS (1 INR) For OPTIONS: ( updated version )


Please test the sequencing before you hotkey it on the live market. No responsibility undertaken.