Bracket orders - is it useful?

Is it a useful feature? i never used it but im just wondering how do we enter a stop order? it only takes limit orders so we can only use it if we enter at market or am i missing something?

For ex: if nifty future trading at 7500 and i want to buy once it breaks 7515 - in this case how do we use bracket order?

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You are right currently it supports only limit order to enter, there are no Stop orders to enter. So if one wants to buy on breakout above 7515, then one has to wait till the breakout happens and enter a limit order. But I think they are working on it. Read Nithin’s response to Googol on the following z-Connect link

Having said that, Bracket Orders are useful in several ways

  1. It is very useful for people who cannot actively track the market.
  2. Trailing SL is only available with bracket order.
  3. Additional leverage available / lesser margin requirement.

thanks for the info, to be honest & practical market moves in seconds so waiting for your entry price will not work. :slight_smile:

Yup. Hope we get Bracket Orders with Stop orders.

Also there is this issue of Bracket orders getting executed as multiple orders. Difficult to modify target or stop loss, as well as increased brokerages.