Manual bracket order on MCX commodities

#1

Hello
Its a known fact that BO are not available for commodities trading.
Quick question: Can I set manual BO as below or am I missing something?

1st manual order : for entry (entering position)
2nd manual order : SL order (after 1st executes)
3rd manual order : for target (exiting position)

Now wait for either of 2nd or 3rd to execute.

If SL hit, manually cancel target order
If target hit, manually cancel SL order.

#2

I think the entry order would also be a SL type order to be triggered when your trigger price is reached.

Could be done as you described. in addition probably set sentinel notification when SL/targer is hit so that you have reminder to go cancel the pending SL/target order.

Currently, I place cover orders (intraday)/NRML (positional) in commodities. And use sentinel to set price alerts to track my SL Price. The moment I get sentinel alert, I go manually exit position.

2 Likes
#3

Thanks for additions.
Sounds good. Since I am not much into intraday CO is not that handy for me. Setting sentinel alert is added advantage yes !

#4

All the stop-loss and target orders you place will get canceled at the end of the day. If you are carrying forward the positions then you will have to place the orders again the next day. But, sentinel alerts are not canceled and they are carried forward for days till the price trigger takes place.

This may change if Zerodha in future supports commodities with GTT orders

1 Like
#5

buy auto trading plugin that suitable for kite and you can easly place bracket order and all in single click .