Comment on Bracket Orders & Trailing Stoploss (SL)

srao commented on 25 Apr 2014, 11:54 AM

Hello Zerodha Folks,

I have been using the bracket order for few days and here is my feedback.

1. Bracket Order is ensuring that the Stop Loss in my mind is actually placed in the order. It’s a great help, BIG thanks for this.

2. If I pace a BO for 20 lots of NIFTY future, there are usually multiple SquareOff/StopLoss orders created when the BO is filled. It appears there is a new order created for every fill that happens. There are couple of issues with this. The first one is more brokerage due to more number of orders. But more important issue is managing SqareOff/StossLoss becomes messy. Instead of modifying one order I will have to modify multiple orders.

3. I placed a BO for 36 lots of BANKNIFTY future today. The order filled for 26 lots and pending for the remaining 10 lots. I decided to cancel the remaining order and thought of modifying the StopLoss for the 26 lots already filled. When I cancelled the pending order to my surprise 26 lots got squared off. Frankly this is unexpected.

4. I failed to understand the why Absolute and Ticks in BO entry form. I am curious to know why selecting ticks and computing how many ticks it should be. I go with Absolute but every time I login i will have to select Absolute as the default is Ticks. If my preferences can be saved it would be a great help. I did not understand the ATP/LTP as well but I can ignore it conveniently.

5. If possible please review mixing Blue and Red colors in BO entry form. There is one occasion I placed sell order instead of buy order. I know it’s my bad.

6. I have a question regarding the trailing stop loss. Is it set on server side or on the client? Should my terminal be running to have the training stop loss to work?

My overall experience is positive. Pioneering is not easy, you are doing it well.

Thanks a lot, Srini

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