Comment on Introducing GTT – Good Till Triggered orders
commented on
14 Aug 2019, 11:20 AM
The multiple trades setup may be advantageous in some circumstances, but overall – I am saying this after using your platform for months – that the disadvantages outweigh the advantages. For one thing, it causes so much clutter and becomes next to impossible to manually track down every trade in haste. Second, when we have to quickly exit when the market goes in a direction we do not want it to, we will have to manually change the targets in 500 trades. The only option left is to exit it. That is quite dangerous because during rapid falls, we end up with disastrous losses when all trades get executed at market prices. Falling markets always retrace by the next candle. Isn’t it high time you provided an option to edit an entire order in one go? Or get rid of this setup of multiple trades, multiple stoplosses and multiple exit orders altogether. Take for example a few days ago I accidentally placed a buy Limit instead of Buy SL and the godforsaken thing created 50 trades. On most other platforms, I would have had to only edit it quickly once and sell at .05 rs less. But here I didn’t have that choice and having used full leverage, I lost 15k in seconds as I exited the whole order. I don’t think anyone ever likes this useless setup. This is not the first time this has happened. As luck would have it, the very second I realised my mistake and decided to exit, Nifty began to make rapid freefall and the market order itself executed at as low as 1% below my order price in a matter of SECONDS!!!
Besides with almost all brokerage companies now offering fixed brokerage or 0 brokerage plans, this sham setup proves costlier to traders in terms of brokerage. Meaning if the system splits one order into 100 trades and charges individual brokerage on each of them, that can be viewed as deceptive marketing of a ‘fixed brokerage’.