Why are large quantities of Bracket Order Stop Loss & Target prices placed in different Quantities & with different order numbers after order is executed?

General
1

I have realized that when I place an Order on Bank nifty Futures to Sell or Buy as a BO Order of 20-30 Lots, I later see that the Stop Loss & Target orders are scattered in different quantities with different order numbers with 8 lots, 5 lots, 3 lots, 2 lots & so on, which is very strange because when I decide to change the SL or Target price I have to modify each order which is time consuming & sometimes the platform freezes too which adds up to the situation.

When the markets are so dynamic every second is very crucial.

In volatile Market this is a big drawback as one cannot change the whole quantity in one single order nor can one cancel & place a new order as BO cannot be canceled after executed.

Is this a strategy to make more brokerage with Bracket orders? I hope not.

I ended up paying more than 1000 in brokerage charges for placing this BO in one day.

Sometimes I have even seen that Orders are executed in different quantities when you enter a trade which is totally acceptable & understandable as there may not be enough orders for that particular price to execute at a time & are executed partially at different time stamp with different order numbers.

This has made me think twice before I trade again with BO with large Quantities.

2

BO provides very high leverage and guaranteed execution of either target or stop-loss and cancelling the other automatically.

For example if one has placed for 10 lots and only 2 lots are traded and remaining 8 lots are pending,for traded 2 lots target and stop-loss has to be in the system so it be.

Later one want to modify the price for pending 8 lots and does so and in this scenario what should be the target and stop loss if another 3 lots are traded at new modified price? it can not same as before as per the initial condition set, it has to be new order only.

Even when one does not modify price one can still cancel remaining pending parent order so it won’t wait till the full order to be complete to set stop-loss and target orders in the system.

In order to include all the possible scenarios BO are build in that way.If one is worried about brokerage one can use CO or MIS product types as each one will have its own pros and cons.

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3

But cover order parent leg is always market order and it won’t come with target leg.