Monitor-free Order Placement Feature

Hi Guys,

Greetings to all of you !

I have online trading a/cs with KotakSecurities, ShareKhan & Ventura but none of them provide the desired feature which I have been searching for.

Basically, what I am looking for is the facility to place orders (market / stop / limit) with their relevant Stop Losses & Take Profit levels in one-step only (or may be two at max) & then log-off the trading platform / PC without needing to bother about tracking my pending orders ie I dont want to baby-sit my orders / trades. Due to my busy routine, I would like to have the facility of monitor-free orders / trades since I dont want to monitor / track my orders to see whether they have been executed & then accordingly place the relevant Stop Loss & Take Profit orders later on.

I will try to illustrate with the examples below :

1)
Current Market Price (CMP) @ 100
Stop Buy Order @ 105
Take Profit @ 110
Stop Loss @ 103

In this example, I can't place the stop loss @ 103 (CMP @ 100) untill the price reaches @ 105 & the Stop Buy order gets executed. If I place a limit sell order @ 103, which is actually stop loss of my Stop Buy order, then even before my Stop Buy order is executed @ 105, my limit sell order @ 103 gets executed ie the stop loss is executed even before the actual Stop Buy is traded.

2)
Current Market Price (CMP) @ 100
Limit Buy @ 95
Stop Loss @ 90
Take Profit @ 98

Here again, only after my Limit Buy is traded @ 95, then only I can enter my Take Profit order @ 98. If I try & enter a stop sell order @ 98 when CMP @ 100, in case the price moves down, it will get executed even before the Limit Buy is executed @ 95. So I have to monitor to see if my Limit Buy order @ 95 has been executed or not, if yes, then only place the Take Profit (limit sell) order @ 98.

I know it might sound confusing........but please try to help me find such an online broker which provides the monitor-free / tracking-free order placement facility. I don't know if such a broker ever exists in India but they do exist in offshore trading platforms. I have a few online trading a/cs with offshore brokers & they provide such an order placement facility which is simply awesome since it saves lots of hassles & time in case of several orders.

Here is a screenshot of one of my offshore trading platforms where I can place all my relevant orders simultaneously in one step only, I can log-off the platform, switch-off the PC, or do whatever I wish to without needing to bother about placing the relevant stop loss / take profit orders after my order is executed.



Order placement is such a breeze, smooth & one-time process with the above platform.

Thanks a lot for your help, patience in understanding my requirements & co-operation in providing me with a solution that best fits my needs.

Warm Regards

not available with most brokers. The only one i "heard" to have such feature is Interactive Brokers.

Yeah, Interactive Brokers seem to be the only ones in India & that's basically because they're not really an "Indian" broking-house as such; what a shame, that no Indian broker is offering such facilities/software to their clients even though India is known for its IT services the world over. I suppose money may or mayn't be an issue so we need our stupid dictatorial government to get off the traders backs & need to open our markets, end trading-taxes, which'll bring in more money, more traders AND better trading-technology as well as facilitate better "price-discovery" & more liquidity in our markets but until then......