Introducing Forever Orders (with OCO) on Sell Side

Ok got it so we can use OCO order in future and option trading according to our strategy

Will you allow OCO orders in Commodities also. I am waiting for it to be allowed in natural gas

@viynod,

Welcome to the Dhan community!

This is work in progress. We will announce this once we are ready.

Thanks for your interest and feedback.

Regards,
Jay K.

So with this feature. If I buy 38100 CE of bank nifty current week expiry for intraday. Can this OCO forever be used? If Yes assuming the target is triggered then there should not be any margin required as I’ve long position on the same. Correct?

Hi @Sahil,

The default OCO order is currently set as “Normal”. So in the above scenario, it will create a new order and margin will be required accordingly. If your existing position is under “Normal” order type, then you will get the margin benefit when placing the square-off OCO order.

We are noting this scenario (Normal vs Intraday for OCO) for our future iterations.

Regards,
Jay K.

Can we put stop loss and target price while placing an order using forever OCO?

In that case there should be checkbox to select intraday or normal while placing oco order, isn’t it? it will solve the confusion and would be easy in managing the trade.

The option to place both legs (buy & sell) of the trade via single OCO order is not possible. This is ideally to be used for an existing position.

We have noted this requirement. Thanks for your feedback.

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We want to use OCO orders for options or futures scalping…It will be helpful if you provide this feature at the time of execution instead of existing positions…In zerodha it is possible to put both at a time…And also in icici cover order(option plus) is there for options and it will be useful to trade with less margins with more quantity…Expecting this kind of features in Dhan as well👍

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Hi @Bobbyn4u

We have this feedback to include OCO orders at time of order placement - however we are also aware of users who forget to remove the OCO orders if they exit their existing positions. In that case they have additional orders that get executed and as a result may lead to losses. We are evaluating this.

Not aware of the Option Plus you mentioned, I don’t think now brokers are allowed to change the margin requirements. Its pretty much standard for all when it comes to trading in F&O. Will check anyway.

Also @PravinJ @Dhan_Help

When we place stop orders from manage position page it would be nice if the stop order gets auto cancelled if we close the open position manually.

Today forgot to cancel stop order and took a hit.

Hi sir,

Even Paytm is providing the same with condition that it will only gets trigger with eDis is authorised. We can do the same Once we have put Equity Sell GTT order it’s our responsibility to authorised eDis daily
Please implement this most awaiting feature.
Thanks

@JayK Can we have bracket order for swing trades?

Hi @AKM,

Bracket Order is available for Intra-day orders only.

Regards,
Jay

If we can get Bracket order for swing trade also not only for intraday , it will make trading easier for delivery trades, as GTT for sell side is not available we can use Bracket Order for delivery trades.
Thanks

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Is OCO Forever available for equity ? Any plans for combined SL for Short Straddles/ Strangles ?

Hi @Ninaad

Welcome to Dhan community. We will explore adding Forever orders for Equity in few months, we are waiting rollout of DDPI regulations.

@PravinJ Could we have the GTT OCO orders for equities. This would be really helpful for swing traders like me. I understand your focus is on the more professional/super traders who deal in Options and FnO and hence more features are being released on that aspect - which is fair enough. But would be nice if the team can consider this as well. I am a recent convert to Dhan, and missing this feature badly.

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Hi @Tridib

Firstly warm welcome to Dhan community. As you must have already seen on this thread and many others where we speak of Forever / GTT orders - we have received this feedback to bring it to Equities as well. We know it’s important, and we have acknowledged that as well. Unfortunately we do not have physical Power of Attorney (PoA) to readily do this, but we are evaluating other options. Because of EDIS implementation - we are bit stuck and other solutions on reminders / nudges aren’t very effective.

Trading systems are difficult to build, and we want to ensure we do a good job on this when it comes to Dhan. We are committed to launch the features we announced for Sept / Oct, and some feedback on ongoing features like charts, speed, reportings and more. We are looking forward to launch of DDPI which will ensure we can do Forever / GTT for equities as well, on sell side. That side, this is on our radar and things to do.

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