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 pric

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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, @W6MnNOxw13 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.

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Thanks for the reply. I will try it tomorrow in live market. Any idea why STOP LIMIT or STOP order is not available for CO?

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@W6MnNOxw13 Cover Order intentions are different and Bracket Order intentions are different so its not possible for CO

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@bg6u8dOikZ Thanks. Is it possible to modify a cover order to bracket order? Say if I have already put in a buy CO but I am busy so now I want to put a target order. If I just put a Regular Sell Order at market price, this sell order gets executed separately without closing out my long position.

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@W6MnNOxw13 You cannot put the target order for Cover Order.