Comment on Zerodha updates - Nov 2016

Sudipta commented on 05 Jan 2017, 08:02 PM

Hi Nithin,
Hope you are doing well. I have a suggestion / request.

I know you are yet to implement VTC (valid till cancelled) order. That will be helpful. But I want to mention another superb feature currently provided by ICICIDirect, which is immensely helpful. This new feature is named as Improvement Order.

Lets say I bought a script at 420 and current market price is 440 and it is going further up. However, in order to catch the best price, which may be 550 or may be 560, I have sit in front of my computer and continuously monitor the price. I can place a stoploss order to minimize the risk of loss. But I cannot automate the process of placing an order around the highest price of the day. In Improvement Order, once I place a stoploss order, if the price goes further up, the system will automatically update my stoploss order with a higher price limit. It will keep chasing the price & keep revising the price. This feature is so great, as you can imagine. We can sometimes double our potential profit & we dont need to stick to our machine or mobile.

I know Zerodha is a discount brokerage firm and I appreciate it. But may be some exclusive features like this can be provided for a cost. I may not need Improvement Order for all my scripts. And when I need it, I may not mind spending a few rupees to gain extra profit. Please see if this can be implemented. It is just an automation of the manual order update that we do. So it should not be as difficult or as complex as VTC order.

Thanks in advance and hope to see some positive news 🙂

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