Many traders dont have much capital and can put one exit order at time due to margin constraints. For traders who have fixed target and stoploss it makes sense for us to put up a sl and target order at once. This allows us to not be glued to the screen and work on other things at the same time. But there’s a problem when it comes to capital intensive products like futures. many retail traders don’t have enough margin to put up two separate exit orders for their traders. Because of that you have to constantly edit your SL order into target order and target order into SL order as the price moves. That is a tad bit inconvenient.
So my question is if you can create a new type of order where you put in both the target and SL at once and when either of them gets triggered the other one gets cancelled?
It’s not a new thing, and it’s call bracket order. Zerodha used to have, till it removed the feature.
Gtt is not feasible for intraday.
You have to look into other brokers if you want bracket order, like Fyers, aliceblue, sasonline. Fyers BO is good. I am talking specific in view of intraday orders.
I have account in fyers. Will try out the bracket orders there. I am not convinced with the feasibility of gtt order for intraday trades that last just 30-40 minutes
In zerodha the margin for MIS/NRML is same for FNO. So take a position in NRML and then use GTT with Target and SL, if they are triggered within a day-or a month, the GTT is still valid.
I understand. He wants both SL and target orders but he also mentioned his current process which is manually creating SL and then manually changing price of SL, what I suggested was automation of that.
SL is created automatically (notice create SL order check box below buy button)
Very easy to move the price with single click. (notice Trail and Save Profit buttons)
