Hey there, Dhan is one n only aggressive innovative broker in the industry, they always listen from their customers and always pay attention to then and work to make those instruments that can help a scalper to Investor,
They brought back BO order in options that is blocked by exchange, but there is a inheritant problem in BO order that is we can’t exit partial quantity in This nor in CO order. we choose BO/CO because it set SL n TL by default and if any one gets triggered the other one gets cancelled automatically.
But imagine i took a trade in Futures or in cash in BO/CO Order, and i feel that the stock or the futures (including NIFTY OR BANK NIFTY) is to looses its momentum but i can’t sure about it because my Target is higher from the LTP so i can do one thing, i may book profit in half quantity and trail the sl of Remaining quantities above cost price, it only not remove the fear of running out of profits and also i will be in game if the stock or index goes in my direction i will book profit in the remaining half quantity or if it tries to reverse it will hit my TSL which i trailed above my cost price, also i had already booked some penny by booking the profit already. i mailed so many brokers to add this feature but no one did this as they are only in the business of making money by doing least work.
so let’s see how Dhan took the step
thanks you
Hey @Bigbull, thanks for the note. Bracket orders are hard to execute, specially in these volatile times and on expiry days. We have seen 2-3 odd instances where both legs get executed as markets moved rapidly. You may recollect we removed BO and brought to back again just to ensure that the order execution stays flawless.
For managing part position better, we have some thoughts - but all that is in early stages as we are continuing to monitor the performance of bracket orders and evaluating if we have to keep them or skip them. Traders love bracket orders on Dhan.
For users you have your specific use-case, we have seen them using draft orders as they would like to make these decisions in advance, and take them when timing is right., just as you mentioned where you saw an opportunity.
That aside, if you are taking these trades based on the underlying and tracking the underlying spot on TradingView charts, we will introduce something interesting soon.