Bracket Orders (BO) are sophisticated order types in the stock market that enable traders to automatically set a target and stop-loss in addition to their primary order, assisting in the simultaneous management of risk and reward.

Types of bracket orders:

1. Bracket Order (Standard):
   
   • When you simultaneously place a main buy/sell order, a target (profit) order, and a stop-loss order, it’s known as a bracket order (standard). The other is automatically cancelled once the target or stop-loss is reached. In a single trade, it aids in risk and reward management.
     
     
2. Trailing Stop-Loss BO:
   
   • With a Trailing Stop-Loss Bracket Order (BO), you can lock in more profit while limiting losses because the stop-loss price will automatically move in your favour as the stock price increases. The position is closed if the price reverses by a predetermined amount, known as the trailing value.
     
     
3. BO with Limit Entry:
   
   • A bracket order with limit entry (BO) allows you to indicate the price at which you wish to enter the trade. You also establish a target (profit) and stop-loss in addition to this. Only when the stock hits your entry price does the order go into effect.
     
     
4. BO with Market Entry:
   
   • When a trade is placed at the current market price with a predetermined target and stop-loss, it is known as a Bracket Order (BO) with Market Entry. It facilitates instant trade entry and automatically controls profit and loss.