It happened for me as well. Both BO and CO wasnât available today, Yesterday it was and day before yesterday it wasnât. I understand from previous posts as well as from Helpline that it was being tested at the backend before another rollout. Has it happened yet or do we expect it to come and go?
Hi @DebadattaMahakud Cover Order has been disabled temporarily. We are updating this feature with user feedback received, so it functions seamlessly.
@Sunitha We have Bracket Order to be working fine in options. Also, we have send an email confirmation regarding the same. Feel free to Chat with us directly from the CS section of the App / Website or write us at help@dhan.co for any queries.
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Bracket orders are also disabled for more than a week now⌠any plans to introduce it back?
Seems you are on the older app version @DebadattaMahakud. Request you to update, missing on lots of new things we shipped.
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Thanks⌠my bad⌠I checked the normal trading window
Do you mean bracket order for Intraday and normal�I think I got missed something in the conversation
Sure Thank youâŚ
I will go through it
@Dhan @Dhan_Help I appreciate Dhan for bringing barcket order for options but its only available for intraday . Is there any plan to do same for normal positions and equity options . It will be easier to manage risk that way if i am carrying a positional trade.
Hi @anu_s2208,
Welcome to the Dhan Community !
You may take the help of our Forever OCO for options. With this, you can easily set a Target and/or Stop Loss for an open position (Normal) till the expiry. More about this in the below post :
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I tried BO yesterday and in a 30Rs option the minimum SL requirement was 1.5Rs as it was told in the app, so that order failed to execute as my SL was 1Rs.
But today was trying the same for near-to-expiry ATM options priced at 3Rs and the SL points I had set to 0.5Rs. But unlike yesterday the orders were getting executed without any failure and the stoploss was also not present in the trades, as only the SL leg got failed to exist as an open order.
Can you clarify more on this, as in the minimum SL(I use very small SLâs as my system which works for CO), and when will the BO execute or not and does it depend on the option price what is the minimum SL for Finnifty options or other indexes? Sorry for the very long query but kindly explain as this is very useful information unavailable
Hello @SiddharthaSharma
The Stop Loss range depends on Risk Management Policy.
This is ideal here to avoid order failure.
Hi,
I have also encountered this issue multiple times that BO order places multiple orders for both target and stoploss when the quantity is more⌠I have stopped using the BO orders now for the following 2 reasons:
- Since multiple stop-loss and target orders get placed, it becomes very difficult to manage/modify specially when it is time sensitive
- The brokerage increases by multiple times since there are so many orders placed in both Target and SL cases
@PravinJ , maybe some resolution to it must be thought of.
Thanks!
Bracket Order is a Algo Order and has two legs - please ensure you keep enough price difference between two legs. If itâs too close and markets are volatile, there may be a scenario that both legs will get executed.
Hi @PravinJ ,
I think the problem is misunderstood!
Let me try to explain it again with an actual scenario.
Note that this has happened with me⌠I placed a single BO order for 6 lots (300 qty) of NIFTY option priced at 125(at that instant), with Stoploss as 20 and Target as 40. The following happened:
- The order got filled (300 qty were bought)
- To my surprise there were 4 Stop-loss orders (quantities 50, 50, 100, 100) placed as a part of that BO
- Similarly, there were 4 Target orders for the same single BO
- Eventually, the stop-loss (all 4) was hit and I ended up paying 4times the brokerage for the so called single BO trade
I understand when we place an order, it gets filled at different prices, but eventually we pay the brokerage only once for the order and not for every internal transaction that takes place to fill the order. BUT this doesnât seem to be the case with BO.
I hope I am able to explain the issue this time.
Thanks!
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Hi @pranav.bhargava You may had attempted to place trailing stop loss or modify one of the legs. I may not have the correct answer, request you to drop a email on help@dhan.co and our team will review logs specifically for this orders.
Hi @pranav.bhargava,
This happens in case the original order is completed in parts. You may see the original order as one order but if on the backend it is filled as a multiple part order (you can also see this in order details page), the SL and Target is set for each of the part order.
For the system that is setting the SL & Target, it is not possible to identify if the order is a complete or a part of bigger order. So if it original order has 2 parts, 2 counter SL & Target order are set, and the similarly number of orders are set depending on if the original order is completed in 3, 4 or n parts.
Thanks @JayK for the reply! However, I already understand what you have mentioned about the current system⌠and thats why I wrote in my previous post that âmaybe some resolution to it must be thought of.â
In technical terms, maybe a way to identify that whether the order is a part of a bigger order and placing the SL and Target orders according to the Average price of the order, only after the bigger order is completely filledâŚ
P.S. - I am not an expert on how the order system works⌠Just wanted you guys to give it a thought for feasibility
Sure. We have noted your feedback.