Sometimes I use Cover Order to trade in Index Futures & it does not give the option to change Order Type such as Limit Order. It comes as a market order. So, I would like to know if it is possible to have a Limit Order Type on a Cover Order.
Cover orders are market orders.
Bracket order are limit order entry orders.
If you want certain limit to be adhered while placing cover order, constantly watch the Market Price or Snapquote window, to see best 5 bids and asks, whenever there is a sufficient quantity in the order book (higher than your order quantity), then only submit the cover order.
Otherwise slippage might be high.
Thanks for the input, however, this is what I do while entering the market as-well-as at the time of exit. The point is, I dont want to wait so I can work on something else. If CO (Cover Order) comes with Limit facility then it would greatly help. As of BO (Bracket Order), there are a set of disadvantages for a high volume trader. so, it is not a feasible option. Hence, both of them have got its own advantages over its disadvantages
I too wanted to know.If you got yourself could you please share it with me?
CO by nature is a market order. This is a approved trading terminal feature. Trading terminal is owned & developed by the vender who is Omnesys in this case. U may better direct ur question to Mr. Nithin about the possibility of having a limit order type on CO.
When will u upgrade limit order in cover order. .? As like i show in SAMCO , i am sending u link plz check and reply me. If u can do this , den it is the best for all trader
