I have been discussing about the order type that I intend to place through my automated platform for my personal use.
I want to execute the following scenario, therefore please suggest what should be the order type,
E.g - SBI Future opens at 220 in the morning 9.15 AM.
If SBI goes to 222, then I want to buy with target of 224 and stoploss of 220. (Thereby what should be the order type in here?) Also the stoploss order and target should be placed only when the BUY transaction at 222 happens.
OR
If SBI goes to 218, then I want to sell it with Target of 216 and stoploss of 220. Also the stoploss order and target should be placed only when the SELL transaction at 218 happens.
When the market opens I want to place these both orders (they are limit orders & would be pending until execution)
My platform is JAVA and I have been struggling to setup this scenario. Request your help in this regard please.
Hi, currently the bracket orders that we offer doesn't allow you to enter using trigger orders. You can place only limit orders. So, if you want to use bracket, you will have to track the price and fire bracket order when the stock price is at 222 in case of buying or at 218 in case of selling. Check this link for more on brackets.
@RH1558 Please do not spam the forum by creating multiple threads asking the same question and private messaging the same thread to all the moderators. Create one thread and wait for a response.
Check this link for more on brackets.