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Order Types
Sandarpan Mukherjee
Aspiring trader
Asked a question 2 years ago

Suppose current market price for a stock is 90. I want to place a Cover Order so that buy order is executed at or just above 95 with stop loss at 93. How do I do this? If I put limit order with Stop Loss, the order gets executed immediately if market price is below the set limit. But I want to execute the order only when it crosses my threshold value of 95 with stop loss of 93. If I use Stop Limit then Cover Order is not allowed. Please help.

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Hi, @Sandarpan Mukherjee42 for cover order this feature is not available but for Bracket Orders  (BO) you can place an order at a particular price, it automatically triggers the order at a given price when stock price come to that point. One thing to note is instead of LIMIT PRICE use STOP ORDER or STOP LIMIT ORDER and it will solve your problem. Hope it will help you. Have a great time.