Click on cover order entry under the menu “orders and trades” or can use the short cut key Shift + F1 for buying cover order and Shift + F2 for selling cover order. Once the order is placed, you can see the pending SL order in your Order Book as shown below. Once the SL is […]
Articles Tagged: Cover Order
What is a Cover Order?
Cover order is a special type of intraday order which allows trading with higher exposure (limit). In cover order, buy/sell order is automatically placed along with a stop-loss order in a single click. This can save a lot of time which is spent placing separate orders. Since a stop-loss order is placed simultaneously while getting […]
What are the benefits of a Cover Order?
Below are the primary benefits of cover orders for intraday traders: Discipline: Putting a stop loss while trading intraday is very important. However, most traders usually keep a SL in mind rather than on the system. Even if we put a SL order, we most likely cancel it rather than letting it get triggered.While placing […]
How does a Cover Order work?
A cover order automatically places two orders. i. a buy/sell market/limit order ii. a stop-loss market order simultaneously placed automatically. The trigger price has to be in a specified range and the stop loss order cannot be cancelled. Once the market price of the stock breaches this trigger price, the Stop loss Market order gets […]
