Alternative for Bracket Order

HI @sujith

IS there any alternative of bracket order that can be built if bracket orders are blocked for that day?

One Solution That I can think about continuously keeps on monitoring the prices and place the order accordingly. But the drawback here is if something goes wrong and the program is closed then it will fail.
  • Imran
    hii @Gafoor
    One way to do this can be
    use cover order: This will take care of leverage and stop loss.
    For target place limit orders.
  • Gafoor
    Hi @Imran
    - if we place cover order for stop-loss
    - limit order for target

    > If stoploss is hit then also there will be a limit order active. So here we need to check if the position is zero for a stock then cancel the limit order.
  • Imran
    Yes, that also needs to be done.
  • ganeshv02
    Hi Guys, I also have similar requirement. @Imran - most of the day, zerodha blocksboth CO and BO.

    I trade in options using API. I either place the SL sell order or TGT sell order. Only one of this. I have to monitor the LTP and update this order say for example SL is hit. As @Gafoor mentioned we are at risk if the program fails. BO would be ideal but not sure what to do on days when Zerodha blocks. Any other thoughts?
  • dan
    @Imran only we can exit the order. Cancell will not work so again one. More time buy sell of the script will execute.
  • dan
    dan edited June 23

    After execution of the order CO only exit order will work for trigger pending. We can not cancell the order
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