SBI opens at 350, my algorithm states that buy at 352, target of 354 and stoploss of 351 OR sell at 348, target of 346, stoploss of 349. If the market moves positive then my buy orders will be executed and if it moves negative, my sell orders will be executed.
I was going through the documentation and realized that I can send a bracket order (BO), but the order type is only LIMIT, there is no specific BO order type.
Also can you please help me understand as to square_off vlaue is the TARGET?, stoploss_value=BUY/Sell Trigger?, trailing stoploss= STOPLOSS?
In case you have some ready example will be great if you can share it.
Also for ORDER CANCELLATION! Now if any of my buy order is triggered then i want to remove the SELL order(SELL AT 348), how can I remove the same? Can you also explain the parent_id and also individual order id pls
Yep, square off is target, Stoploss is stoploss, Trailing SL is an optional feature where you can modify the SL automatically everytime the underlying moves in your favor by this amount. For example, You buy a stock at 100, set sq off as 105 SL as 98 and trailing SL as 1. If market goes to 101, SL will automatically go up to 99 (since there is a trailing SL set, but trailing is optional).
i am using algotrading, where programeticly place order for more than one stocks eg. place bracket orders for ACC and 3MINDIA,
1st order ACC BUY 2nd order ACC SELL 3rd order 3MINDIA BUY 4th order 3MINDIA SELL
if ACC BUY order trigger then cancel SELL order for ACC if 3MINDIA SELL order trigger then cancel BUY order for 3MINDIA
i dont get this "parent_order_id is the id you get when you first place the BO (the very first order)" now which order id is parent_order_id, i am conffused about "the very first order"
For example, You buy a stock at 100, set sq off as 105 SL as 98 and trailing SL as 1. If market goes to 101, SL will automatically go up to 99 (since there is a trailing SL set, but trailing is optional).
eg. place bracket orders for ACC and 3MINDIA,
1st order ACC BUY
2nd order ACC SELL
3rd order 3MINDIA BUY
4th order 3MINDIA SELL
if ACC BUY order trigger then cancel SELL order for ACC
if 3MINDIA SELL order trigger then cancel BUY order for 3MINDIA
i dont get this "parent_order_id is the id you get when you first place the BO (the very first order)"
now which order id is parent_order_id, i am conffused about "the very first order"