Hi, need help or want to know if it’s possible to add a script on Kite webpage account with cover order on an Intratrade at a particular price or when crosses at a particular price point any time during market hours. Like suppose if I place a 2 lots Buy order at 141.15 with SL at 140.95 and place another Sell order for 2 lots at 140.95 with SL at 141.15.
Suppose I wish to place a buy and sell order as mentioned above first any one order will prevail as per the market moves up or down and the opposite order will get exit autoimatically right… So once the Buy or Sell which is moving ahead and after any time in mkt hours it comes back & crosses the same point it should exit from the prevailing order and activate the opposite order as many as times this happens if it crosses this particular price.
Or even we can say like I catched a train going to north is now going down to south and so exit that train once it reaches the started / departed station and jump into the train going to south. And again change the train at the same station if it changes the direction towards to north, hope this explains well my requirement.
Await your kindly valuable suggestions / solution for my above requirement.
You can achieve this strategy using a Bracket Order(BO). A Bracket Order is a limit order which has a compulsory Stoploss and Target. You can only Buy at market price or below market price. You can only sell at market price or above market price, since BO is a limit order.
With a BO you cannot sell below market or buy above market. This can be achieved with an MIS SL-M order.
In your example, you have mentioned a Limit entry point and a Stoploss. To execute this using a BO, you have to place a Target price as well.
In your example, to place a 2 lots Buy order at 141.15 with SL at 140.95 and place another Sell order for 2 lots at 140.95 with SL at 141.15.
This can be done this way -
Place a Buy BO order with Limit price of 141.15, SL of 140.95 and a target of your choice. At the same time, you can place a Sell MIS SL-M order with trigger price = 140.95 and once this is executed, you have to place a Buy Sl-M order with trigger price = 141.15. This is possibly the only way to achieve what you want to do.
Hi, many thanks for answering my querry.
BO I belive is an order which drags the stopploss along with it. Suppose if the SL is 30ps and if the order moves on & in between coming down 5paise to 25ps the order will keep on moving ahead. Once at any point on the way to target if it touches 30ps less from its acheived price it will get exit automatically. Please correct me if I’m wrong.
Your suggested MIS with limit order seems the best option, I’ll check it out.
Once again thankyou very much for your valuable inputs, it’s highly appreciated.
Looking for help if anybody can automate Buy/Sell at a particular rate with CO in intraday trading using Visual Basic, Python or C programming,