Expert/experienced traders' advice requested

hvl

New Member
#1
Is it possible to place a cover order that executes at market value and then exits at a prespecified loss or profit in one go. I would love the exit to be market order again so that the trade will be confirmed instantly. I am told that cnc order will do that in case of stocks. But what about options? Basically, I want to enter at market price and exit when there is 5%gain or 10% loss.
 

nac

Well-Known Member
#2
Yes, you can put an order like that. But it's not a market order, it's called limit order (I guess you know that). An automated trading system can do that...
 

hvl

New Member
#3
I know what is a limit order and I have trading accounts with zerodha and bnrathi securities (Now). Is there any plugin or something of that sort that needs to be installed to use the automated trading system? What is the cost of such software and any details you can supply? Are there any free or trial versions available? Thank you for the reply.
 

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