When we place a sell cover order, does that signify? Does it mean that shares will be bought at MP and then at the trigger price which we have given the sell order will take place? TIA
please specify question more brief
When we place a sell cover order,
the order will sell first at Market Price.
then trigger price for buy order will be pending
this is stoploss market buy
i had placed a sell cover order…
union bank futures
i was trading at 136.40
IN the trigger block i entered 136.50
now when my cover order got executed…i had loss of 200/-
in the order details it says the sell price @136.45 and [email protected]
how did the position got closed as i had only placed the sell order and not the buy order.
someone plz explain what actually happened.
thanks…
Your buy order got executed @ 136.45 and you had SL order at 136.50, that got hit right after that. Don’t keep such a tight stop loss.
thanks a lot…
so the trigger price actually stop loss price…
ideally at how much % should one keep stop loss in cover order…
That depends on your risk level and your style of trade scalpers keep it tight, momentum traders give their trade some space.