Could Someone Give me Advice on Bracket Orders and Trailing Stop-Loss on Upstox?

General
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Hello there, :wave:

I have been using Upstox for a few months now and am slowly getting more comfortable with the platform. I have come across the concept of Bracket Orders BO and Trailing Stop-Loss TSL; but I am still a bit confused about how they work in practice and how I can use them effectively.

When placing a Bracket Order on Upstox, what happens if the stop-loss is triggered? Does the entire trade close automatically, or is there any chance of it partially staying open?

How do I calculate an optimal trailing stop loss value for intraday trading? For example; if I am trading Nifty options or any volatile stocks, should I keep a smaller TSL like 0.5% or something higher to avoid getting stopped out too soon?

Also, I have gone through this post; https://community.upstox.com/t/placing-trailing-sl-along-with-order-placing-cyber-security which definitely helped me out a lot.

I also wanted to hear from experienced traders in this community. How do you use BOs and TSLs on Upstox for intraday or swing trades? Do you find them reliable; especially during times of high volatility?

Thanks in advance for your help and assistance. :innocent:

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Hi @davidcook,

An order is triggered when the specified price condition is met and is then sent to the Exchange. However, the execution of the order depends on various factors, including the availability of counter-orders at the specified price. As a result, the triggered order may sometimes only execute partially or remain open.

When setting a trailing stop-loss, itā€™s important to align it with your risk appetite. Opting for a smaller trailing gap and a tighter stop-loss results in more aggressive trailing, but this increases the likelihood of the stop-loss being hit, especially in volatile market conditions.

Hope this answers your query.