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How to place Cover Orders (CO) through Alpha Web?

  • Published: Sunday, 18 October 2020

A Cover Order is a market order or limit order that is placed along with a Stop Loss Order. In a Cover Order, the buy/sell order is a Market or Limit order that is accompanied with a compulsory Stop Loss order, in a specified range as pre-defined by the system, that cannot be canceled. As there is a compulsory Stop Loss Order the risk automatically reduces because of which the margin requirement also automatically reduces thereby giving more leverage to the client for intra-day trading.

To place Cover order (CO) open Buy/Sell window and select CO instead of Regular (Refer to the image below with steps)

For more information on Cover Order refer to this LINK