Valid point @hemanthchandra62. We have updated the original post to reflect the same.
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@Naman @PravinJ can we use iceberg to exit/square-off current position?
Let’s say, I used iceberg to place buy order of 15000 quantity nifty options. Inorder to square-off the entire 15000 quantity can I use iceberg to place sell order?
Yes, @pratik01 technically you can - on positions you will also see you open positions. Please ensure you square-off correctly and don’t miss out. Iceberg order is just slicing the order, and it essentially is simply a limit or market order.
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Great @PravinJ thanks for sharing.
Maybe, if possible please make one video on iceberg order to show both buying and selling process for educational purposes🙏
Thanks!
Hi @pratik01, we have a introductory video for Iceberg orders on Dhan here: What is Iceberg Order? | How to Place Iceberg Order - Iceberg Order Explained | Dhan - YouTube
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Hi @PravinJ one question. Once iceberg is successfully executed say of 10 legs (total 18000 nifty quantity). Will my positions page have 10 different orders? OR all 18000 quantity merged into a single position?
(Hence, i requested to make an educational video for both BUY as well as ‘SELL’ side for the same stock. Our current video demo shows only BUY side trade)
Hi @pratik01
Our videos are introduction to features that we are building and many users will use them differently. Hence we do not want to get into suggestive modes, its bit thin line about explaining a feature and then asking users to use in a particular way… just short of being a recommendation, which we do not want to do. We are here to answer you questions 
On positions - please note that broking transaction systems and even exchanges, know only one thing - order scrip and type of order (normal or intraday). You can create as many orders as you would like by any order type - market, limit, trigger or iceberg - as long as it is intraday orders, all of them will be grouped as a single position. Same for normal orders. Hope this clarifies.
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Thanks for this very very big update.
When will be you are adding this feature on dhan’s tradingview platform ??
At this moment, we are working to bring Iceberg option on Dhan web, and then Trailing Stop Loss as well to Web.
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Update on Iceberg Orders:
We have further enhanced Iceberg Orders on Dhan, read full-post on same here: Updated: Iceberg Orders now get even Better Experience on Dhan
I’m also eagerly waiting for it.
Had an incident today wherein I placed a bracket order for finNifty for barely 600 quantity , way way lesser than its freeze limit and there were about 16 stoploss and target orders created!!! Absolutely ridiculous like 16 individual sell order created !!! It’s so hard for modify each SL and Target order … imagine having to change 16 order values for selling your position as per market changes and I call the Custoner care and they say the orders where sliced with tiny quantity like 40, 80 units etc … but couldn’t fully explain how! The slicing / iceberg should kick in only when the freeze limit is reached or more … why would you slice such small orders making it so difficult to manage - I landed with a huge loss and even if it would be sliced the app should atkeast warn you while placing an order that this will sliced or inform you somewhere !! I can’t find any such info here or web, plz tell me this !!
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Hi @Msk92
You are right that the system will slice automatically only when the freeze limit is exceeded. In your case, we checked and found this was not sliced/ processed in an iceberg order.
Let’s say you place an Equity delivery order for 600 quantity of shares at Rs. 100, and the sellers are as below:
200 shares @ Rs. 100
300 shares @ Rs. 99
100 shares @ Rs. 98.5
This will be executed in 3 legs as sellers are available at different prices. Order matching happens from the exchange as per buyer and seller availability. A broker has no role in this. Partially execution of orders depends upon the volume/buy & seller in the scrip.
This is the same for Options trades as well. Now in the case of a Bracket order, each buy leg will have 2 sell legs. And if the initial order is executed in 3 parts, it will have 6 sell legs (1 each for Target and Stop loss for each part).
Finally, if your order is placed as Iceberg, you are charged brokerage for each leg, vs if your order is sliced due to the difference in market depth, you are charged brokerage for 1 order only. You can verify the same in your contract note. Hope this clarifies.
the buying can happen as explained, but bracket order has to be two legs of the avg price, this is something implementation issue at Dhan and not market limitation. In intraday BO at other platforms, if there are two sell legs they why would Dhan use 8 /16 orders. Common sense is not common and hence your technical team messed it up probably. Again this is personal view and not to defame here, but provide a constructive feedback to check how other platforms are able to implement in a smooth fashion. But good you explained the mechanism.
Hey @Msk92,
This is 1 of the common problem which I came across with many fellow traders & which made me develop some software or plugins or chrome extensions to solve this kind of issue & many others which we traders face every day.
Recently we published the first phase of our extension & which has the ability to solve your issue. Please have a look below for more details.
Can you pls explain brokerage for iceberg, will it be on entire quantity or on individual iceberg quantity,
If i have 125 either i can buy all 125 at a time or i can spilt in 5 iceberg (suppose 125bnf quantity means 5 lot so will i have to pay 20 for 125 quantity or i have to pay 20*5 =100 brokerage for buying and while selling also 100 or 20 brokerage?)
If your order is sliced like 5 orders like below
Order 1 - 25qty
Order 2 - 25qty
…
Order 5 - 25qty
then brokerage will be 5X20 for BUY + 5X20 for SELL
If the order is not sliced & all 125 orders exec at 1 order
Order 1 - 125 qty
then brokerage will be 1X20 for BUY + 1X20 for SELL
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Now from the trading view the orders will be sliced if you reached the qty freeze limit automatically whether they be BO/SL/Mkt/Lmt orders. Other features of the extension are listed here
If you wish to have this feature, Please Install DhanHQ Tradingview Chrome Extension from the chrome web store