Cover Order Exit

Shah
Shah edited July 28 in Python client
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 :)
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