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What are Cover order and Bracket order?
Cover order – Order for intraday trading where a SL order is placed parallel to the main order. This Stop Loss Order cannot be canceled. Since the Stop Loss Order is being placed simultaneously while getting into the contract, the risk that is being taken automatically reduces.
Bracket Order-It is a 2 leg order for intra-day trading. Both SL and TP are placed parallel with the main order. If any of the SL / TP orders is executed, then the other order is auto-canceled.
There are no charges for bracket orders and cover orders in Shoonya.
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