Comment on Cover Orders - For Higher Leverage

Suriyakumar Jayabal commented on 29 Aug 2014, 09:00 PM

Thanks for all your explanations.
Cover Orders seems really cool, huge leverage.

1. I see the option CO in web platform, alongside MIS and CNC. So when I place the order should I mention only the trigger price and quantity and submit with CO as product type.

2.What should I choose under LIMIT, MARKET, SL-L and SL-M, I guess it should be MARKET.

3. Will the trigger price act as my SL-M order for selling off the shares I bought?

4. Until this I am somewhat clear, But when I use the order window in web platform, I understand one Buy order will be there, which is my entry order and One Sell order will be there with trigger, which is my stop loss market order to sell those shares in case of price moving againt me.
What should I do if I want to sell those shares if price moves in favorable direction.
I know I should choose the SL-M sell order in my order book, after that I am not clear what to do.
Particularly in web platform where will get the Exit option as like desktop software.
I think is should use Modify to change the trigger value, but in case i want to square off the shares without modifying SL-M, is there any option?

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