BRACKET ORDER · TRAILING STOP-LOSS
Bracket orders for your whole option strategy
Set a target and a stop-loss once - on the position’s profit and loss or on the spread - and Quantsapp squares off every leg when either is hit. Trail the stop as you profit, across brokers and family accounts, even if your broker has no bracket order.
- Single or multi-leg
- MTM or spread
- Futures + options
- 20 brokers
THE CONCEPT
What is a bracket order?
A bracket order is three orders in one: an entry, a target to book profit and a stop-loss to cap the loss. The two exits wait on either side of your entry. When one is hit, the trade closes and the other is cancelled - so your best and worst case are decided before you enter.
One lot of 65. Illustrative prices.
TRAILING STOP-LOSS
A stop-loss that follows your profit
A trailing stop-loss moves the stop up in steps as the trade gains, and never moves it back down. You choose the step. Here, a NIFTY straddle is sold with a target of ₹5,000, a stop of ₹2,500 and a trail of ₹500 for every ₹500 of profit:
With the trail, the trade exits at +₹1,000. Without it, the stop stays at −₹2,500 and the same day ends at −₹1,300 at the 3:15 pm square-off. Illustrative path.
TWO WAYS TO SET LEVELS
MTM or spread - pick how you think about the trade
MTM (₹ profit and loss)
Levels are the position’s rupee P&L. “Exit at ₹5,000 profit or ₹2,500 loss” - however many legs it has.
Spread (combined premium)
Levels are the legs’ combined price. The straddle above is sold at ₹153.6 + ₹51.25 = ₹204.85; you exit when the spread falls to your target or rises to your stop.
Same trade, one lot of 65: ₹5,000 of MTM is about 76.9 points of spread.
QUANTSAPP BRACKET ORDERS
Everything a broker bracket order can’t do
Single or multi-leg
Put one bracket around a single option or a whole strategy - a straddle, a spread, an iron condor.
On MTM or on spread
Set the target and stop as rupee profit and loss (MTM) for the position, or as the combined premium of the legs (spread).
Entry now, or exits only
The entry legs are placed immediately. Already in a trade? Add only a target or only a stop-loss to it.
Whichever comes first
Quantsapp tracks the position and squares off every leg as soon as the target or the stop is hit.
Trailing stop-loss
Move the stop up in steps you define - in rupees of MTM or points of spread - as the trade moves into profit.
Any broker, every account
Run the same bracket in several brokers and family accounts at once, even if your broker has no bracket order.
Futures and options together
Mix futures and option legs in one bracket - a covered call, a hedged future, a synthetic.
Multiple expiries
Legs can have different expiries, so calendars and diagonals get one target and one stop too.
Set it and step away
Sell a straddle, set the target and the stop, and stop watching the screen - the exit is automatic.
COMPARED
Broker bracket order vs Quantsapp
Few brokers offer bracket orders at all, and those that do usually support one leg only. Zerodha stopped them in 2020. Quantsapp tracks the position and sends the exits to your broker, so it works with any connected broker.
| Typical broker bracket order | Quantsapp | |
|---|---|---|
| Legs | Single leg | Single or multi-leg |
| Exit levels set on | Price of one contract | MTM (₹) or spread of the whole position |
| Futures + options in one order | No | Yes |
| Legs with different expiries | No | Yes (calendars, diagonals) |
| Trailing stop-loss | Where offered, single leg | Steps in ₹ MTM or spread points |
| Exits only (no entry order) | Separate orders | Only a target, or only a stop-loss |
| Several accounts at once | No | Across brokers and family accounts |
| Auto square-off if neither is hit | Around 2:45 pm | 3:15 pm by default, adjustable |
| Brokers without bracket orders | Not available | Works with all 20 connected brokers |
Broker features change; check your broker’s current terms.
HOW TO PLACE ONE
Four steps, then hands off
- Connect your brokerLink one or more broker accounts - yours and your family’s - in Trade → Brokers.
- Build the legsPick Bracket in the order ticket and add legs: options, futures, any expiry.
- Set target, stop, trailChoose MTM or spread and enter the levels. Leave the entry out to add only exits.
- Pick accounts, executeSelect the brokers and clients. Quantsapp watches the levels and squares off for you.
BROKERS & PRICING
Works with 20 brokers
Zerodha
Upstox
Dhan
5Paisa
Motilal Oswal
Fyers
Choice
Nuvama
Aliceblue
Sharekhan
Angel
Kotak Neo
Groww
ICICI Direct
HDFC Securities
IIFL
INDstocks
Jainam
Paytm Money
Axis Direct
Static IP
₹250/month + GST
Shared static IP from Quantsapp (one per broker). SEBI rules require orders placed through platforms to come from a static IP on your side. A dedicated IP is ₹750/month + GST, or use your own.
Set your exits once. Let Quantsapp watch.
Connect your broker and place your first multi-leg bracket order.
Frequently asked questions
What is a bracket order?
A bracket order is an entry order placed together with two exit orders: a target above (to book profit) and a stop-loss below (to limit loss). When one exit is hit, the other is cancelled - the trade is "bracketed" between the two levels.
How does a bracket order work?
You enter, say, a NIFTY call at ₹150 with a target of ₹180 and a stop-loss of ₹135. If the option reaches ₹180 first, the position is sold at the target and the stop is cancelled; if it falls to ₹135 first, it is sold at the stop and the target is cancelled. With a lot of 65, that is ₹1,950 profit or ₹975 loss, decided before you enter.
What is a trailing stop-loss?
A stop-loss that moves up as the trade moves into profit, in steps you choose. For example, with a stop of ₹2,500 and a trail of ₹500 for every ₹500 of profit, the stop moves to −₹2,000 at +₹500, to break-even at +₹2,500, and keeps locking in profit after that. It never moves back down.
What is the difference between a bracket order and a cover order?
A cover order is an entry with a compulsory stop-loss only. A bracket order adds a target as well, so the trade exits on whichever of the two is hit first.
Does Zerodha have bracket orders?
No. Zerodha stopped offering bracket orders in 2020. You can connect your Zerodha account to Quantsapp and place bracket, target, stop-loss and trailing stop-loss orders on single or multi-leg positions; the orders go to your own Zerodha account.
Can I put a bracket order on a straddle or another option strategy?
Yes. In Quantsapp a bracket covers all the legs of a position, with the target and stop set on the position’s MTM or on the spread. Legs can mix futures and options and have different expiries.
What is the difference between MTM and spread?
MTM is the position’s profit or loss in rupees. Spread is the combined premium of the legs - for a straddle sold at ₹153.6 + ₹51.25, the spread is ₹204.85. A ₹5,000 MTM target on one lot of 65 is the same as the spread falling about 77 points.
What happens if neither the target nor the stop is hit?
The position is squared off at 3:15 pm by default. You can change the exit time with an Alert Trigger Order.
What do I need to place a bracket order on Quantsapp?
A Quantsapp account, a connected broker account and a static IP - SEBI rules require orders placed through platforms like Quantsapp to come from a static IP on your side. Quantsapp’s shared static IP costs ₹250/month + GST (a dedicated IP is ₹750/month + GST). Bracket orders cost ₹20 per order, or are unlimited with the Broker API plan from ₹1,499/month (billed yearly); they are free for new accounts opened through Quantsapp with Choice or 5paisa.
Is a stop-loss always filled at my price?
No. Exits are triggered on live prices and sent to your broker; in fast markets the fill can differ from the level, and a gap can open beyond your stop. A stop-loss limits risk but does not guarantee the exit price.
Examples are illustrative, not recommendations. Derivatives trading carries substantial risk; stop-loss exits can fill away from the set level. Disclaimer