1. Bracket Order
Definition:
A Bracket Order allows you to take an intraday position with additional
exposure while being protected by a stop-loss order and a profit target. It
involves three components: an entry order, a profit-taking order, and a
stop-loss order.
How to Place a Bracket Order:
Website Platform:
Search and Click on the scrip you wish to trade.
Click on Buy/Sell.
Click on Intraday in the order window
Enable the toggle for Add StopLoss (Cover/Bracket order)
In Order window, mention the rates for all the three legs.
Mobile Platform:
Log in to the 5paisa Mobile App.
Search and Click on the scrip you wish to trade.
Click on Advanced symbol represented by an square with an arrow inside situated
above the Sell icon
Select Intraday
In Order window, Tap (Add Stoploss and Target) - Bracket
Additional Information:
Once the profit/stop-loss order is executed, the system will trigger a cancellation
request for the remaining order, which may take up to 10 seconds. Ensure
sufficient price difference between orders to avoid simultaneous execution. For
more details, refer to this video.
2. Cover Order
Definition:
A Cover Order consists of two components: an initial market order and a
stop-loss order. The market order is executed immediately at the current market
price, while the stop-loss order helps manage risk by setting a predefined exit
point.
How to Place a Cover Order:
Website Platform:
Search and Click on the scrip you wish to trade.
Click on Buy/Sell.
Click on Intraday in the order window
Enable the toggle for Add StopLoss (Cover/Bracket order)
In Order window, mention the rates for the two legs.
Mobile Platform:
Log in to the 5paisa Mobile App.
Search and Click on the scrip you wish to trade.
Click on Advanced symbol represented by an square with an arrow inside situated
above the Sell icon
Select Intraday
In Order window, Tap (Add Stoploss) - Cover
Additional Information:
The first leg of the order is a market order, and it must be accompanied by a
stop-loss order within a specified range. Individual legs of these orders
cannot be cancelled separately.
3. Market Order
Definition:
A Market Order is executed immediately at the best available price. The order
is filled at the current market price, which might be different from the last
traded price or the best available price.
How to Place a Market Order:
Website Platform:
Search and Click on the scrip you wish to trade.
Click on Buy/Sell.
Select "Market" in the Price section.
Mobile Platform:
Log in to the 5paisa Mobile App.
Search and Click on the scrip you wish to trade.
In the Price section, please select the "Market" option by ticking
the checkbox.
Additional Information:
The last traded prices are displayed in the “Order Column,” but the execution
price may vary. For accurate pricing, refer to the “Trade Column.”