Cover Order Exit

Shah

When exiting a CO with the exit_order() function, what happens to the stop loss that was placed from your end when the CO order was placed. Do I have to cancel that separately?
Also when exiting the CO, what type of order is placed? MRKT? Do I have the option to have LIMIT? (Ex: Sell at or above this price). If so which param should I use?

sujith

If you have to exit a cover order then you will have to place a market order. A user doesn't have to do this explicitly, the system will take care of it when you send a request for exit_order.

If the second leg order is not executed then it is still considered as open position, right?

rakeshr

@Shah

Also when exiting the CO, what type of order is placed? MRKT?

When you exit CO order, pending stop-loss order is modified to MARKET order and the position is closed.

Do I have the option to have LIMIT?

When you place a CO order, you already define the stop-loss trigger price. Go through this article to know more about CO orders.

Shah

Okay understood. Thanks