Cover Orders and Bracket Orders allow you to manage your trade entry and exit in a single order window. Before placing these orders, make sure you have gone through our guide on what CO and BO are and how they work. This article walks you through the exact steps to place both order types on the RMoney Tradion App.

Placing a Cover Order: Step by Step

• Open the RMoney Tradion app, search for your stock, and tap to open the order window.

• Tap BO/CO at the top of the order window.
• Select Market or Limit as your order type.
• Enter the quantity.
• Enter the stop-loss value in numbers.
• Swipe Buy or Sell to place the order.

Once the Cover order is executed your entry stock would appear in the position Tab and the SL Leg Order would be in the pending order section.

Placing a Bracket Order: Step by Step

• Open the RMoney Tradion app, search for your stock, and tap to open the order window.

• Tap BO/CO at the top of the order window.
• Select Market or Limit, and enter the quantity and entry price.
• Enter the stop-loss value in rupees.
• Enter the target value in rupees.
• Trailing Stop-Loss is optional. Enter a value if you want the stop-loss to trail the price as the trade moves in your favour. If not, leave it as zero or the default.

Once placed, go to the Orders section in the app. A Bracket Order will open the stop-loss order, and the target order.

Tracking and Modifying Your Order

You can modify the stop-loss or target values of an open BO or CO while the position is active. However, you cannot cancel the stop-loss leg independently doing so would require exiting the position entirely.

Note: If neither the stop-loss nor the target is hit by end of day, the position will be automatically squared off by the RMoney system before market close as per MIS square off timings.

For further assistance, contact RMoney Support at 0562-4266600 / 0562-7188900 or email askus@rmoneyindia.com

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Disclaimer: The information provided in this blog is for educational purposes only and should not be considered financial advice or a recommendation to invest. Intraday trading involves substantial risk of loss. Cover Orders and Bracket Orders are MIS product types and all open positions will be squared off at end of day. Please consult a SEBI-registered investment advisor before trading.