We introduced Draft Orders (an industry-first feature) a few weeks ago and are surprised how users have adopted it.
It’s used by investors and traders both. Investors, as we had expected, have added them, mostly as market orders, and with markets/price correcting they execute them. While traders are using them for multiple reasons - exit legs, price action, have calls or puts in the draft and execute them based on movement in underlying. And yes - our users have their own use cases to add orders to draft and execute them at will.
For the last few days, we saw some of the draft orders failing - which should not be the case cause they always were to be executed. Only later did we realize that some users were attempting to execute them when exchanges are closed - to which we realized we did not enable 24x7 AMO (aftermarket orders) on Draft Orders.
As you may already know Dhan offers an integrated AMO experience, an industry first once again from Dhan. (Feature Announcement - After Market Orders on Dhan).
Later we introduced Pre-Open Trading on Dhan and integrated it again seamlessly into the AMO experience. (Introducing: Pre-Open Trading on Dhan)
We have extended all these AMO features now to Draft Orders, and the same is available on Dhan Web, Dhan App, and also the Options Trader app. We are sure that Draft Order in AMO features is going to be of huge help to all of our users.
A quick reminder again, draft orders that are executed are removed from drafts automatically. For now, we have enabled 100 Orders in Draft mode for users, based on the usage and feedback - we can either make them more or less.
Happy Investing & Trading!