Now Live: Forever Orders with OCO (for MTF & Equity)

[Pranita]

Hello Traders,

We understand that Traders want to take positional trades with as little margin as possible.

We are all aware that there is no leverage available on Equity Segment, Cash or Delivery. In order to buy a Stock in cash (delivery), one has to pay the full margin that is required. However, leverage is available for Equity-Intraday on 1250+ stocks at Dhan. One needs to pay only 20% (this may vary) of the margin requirement. The flip side is that stocks bought for Intraday will be squared off at the end of the trading session. This becomes a major problem for Equity Swing Traders or Positional Traders who want to leverage to hold on to their trades in the short term.

For that reason, in November 2022, we launched Margin Trading Facility (MTF) and are glad to see the overwhelming response. In MTF, one need not pay the full margin (as required in delivery) and can hold for days. Here is a detailed post on MTF and its features and offerings. We have continuously improved the experience around MTF. This time, we have introduced Forever Orders to MTF for an improved experience.

Forever Orders are now available with MTF

MTF and Forever Order complement each other and complete the Swing Trading experience. Now you can take a trade in MTF and set a Stop Loss or Target with Forever Order. This will ensure that your trade exits at your desired price, without you having to track it daily or every now & then.

To create a Forever Order for MTF, simply select the product type “MTF” from the drop-down menu. This option to select the product type is newly added. It is enabled for both types of Forever Order: Single Order and OCO Order.

We hope that this addition to our product will be valuable to you for your positional or short term trades. As always, we continue to improve and upgrade your trading experience on Dhan.

PS : With this update you will now be able place forever orders with OCO in Equity also.

Happy Trading!
Pranita

[shoebwk]

When OCO is coming for investment/cash?

[Pradhan]

I know this would happen for sure.

Buy order separate
Stoploss and target order separate

Still i would say upstox is the best when it comes to GTT functionality.

Reason

3 in 1 with no triggee price.

[Pranita]

Hey @shoebwk ,

It is available for cash as well now. Simple select the order type as “Delivery” while placing single or OCO order.

Thanks,
Pranita
Product @ Dhan

[PravinJ]

Hi @Pradhan

Please note that we do not look at other platforms when we build our products, its based on use-cases and usage of our product, platform and users.

On the platform you are referring, the Place Order below is a Trigger Price itself. Please note that GTT itself stands for Good Till Trigger, there is no way to execute Forever Orders or GTT without a Trigger Price.

[shoebwk]

I don’t see this feature in IOS app and there is no update available on appstore

[Pradhan]

Ok i admit dhan does not look at other platform but before releasing this update, we as traders have requested dhan to bring single order option.

single order MEANS = Buy limit + SL order + Target order

https://community.dhan.co/t/bring-update-on-gtt-order-system-function/9504?u=pradhan

https://community.dhan.co/t/introducing-forever-orders-with-oco-on-sell-side/2159/99?u=pradhan

NOT LIKE OCO HAVE TO PLACE BUY LIMIT ORDER THEN SL ORDER OR TARGET ORDER = 2 DIFFERENT ORDER.

AND FOR TRIGGER
FOR EACH FIELD HAVE TO MENTION TRIGGER PRICE ?

BUY ORDER - PRICE LIMIT & TRIGGER LIMIT
SL ORDER - PRICE LIMIT & TRIGGER LIMIT
TARGET ORDER - PRICE LIMIT & TRIGGER LIMIT

TO TRAIL THE PRICE OF EACH STOCK, THEN HAVE TO REPEAT THE STEPS.

[Pradhan]

Neither on web version !

[PravinJ]

Hi @Pradhan We understand users have strong views to ask for features the way they want, unfortunately products can’t be built that way, we have to figure out a balance.

99.9% of Delivery / MTF orders are single leg orders, this is not for us alone but for all exchange orders. Des not make sense to accept multiple legs at this time when we launch the feature, if data or usage shows things otherwise, we will evaluate that.

[encore]

MTF interest rate is high + brokerage charge when doing MTF is also high. I have ICICI Direct account as well, they charge 0.01% brokerage on one of their lifetime plan and the interest is less than 105 per annum.

[Pradhan]

I don’t know about dhan Forever order (Delivery) working style but i have used upstox and 5 paisa broker. They have the feature available what i and others are saying. If dhan haven’t look upstox feature, how this works then dhan should check them how it is working. We can simply learn from others. This is what i can suggest.

I am also trying my best for dhan to have those features what is possible or what is available. And if it is not possible then something is better than nothing. This is what i can say.

Thank you

[gegobyte]

Earlier forever sell order couldn’t be placed until the stock was in demat account (T+1). Is that changed now with this update? On the same day of purchase or at the time of purchase, can sell forever order now be placed?

[shoebwk]

If the feature is not available on IOS or web version, then where it is live? why this announcement?

[nightkingkills]

way OCO order not available in dhan web and also add option to set OCO order from Portfolio
need to go to Watchlist to set forever/OCO order

[Pradhan]

Neither i can understand

[Pranita]

Hi @shoebwk ,

It is live on iOS & android. Request you to update to the latest app version. It will be live on web shortly.

Thanks,
Pranita

[yogesh86k]

Hi I want to know how the OCO sell order will work suppose I bought any stock in MTF today, can I place sell side OCO order in same day immediately after buy order execution? or I need to place OCO order next day? will it not treat saperate order and will not block margin for sell?

Please reply

[Pranita]

Hey @yogesh86k ,

Currently you can only place an OCO order the next day of placing an MTF order. Margin will not be blocked till the order is triggered.

Thanks,
Pranita
Product @ Dhan

[Pranita]

Hey @gegobyte ,

That is constant, forever sell order can be placed only after stock is in demat.

[MAANVI]

Why it is not available in WEB version When u r introducing it??