Finvasia

[lemondew]

finvasia,

Observed the following security issues with respect to your RMS in nest trader.

I did the following at 9:17:20 I saw vedl trading at 159.3. I put a basket order order 2 orders with buy at Limit 159.5 and with SL-M 157.95 at same time.

In a few milliseconds the price moved down and by the time the orders were executed, the price was at 157.55 below my sl of 157.95. So your rms did the following it rejected my SL order and completed my long order. Thereby my trade ended without SL. In case if big downmove happens during the time order is executed this can lead to limit orders executed without SL-M orders.

So in my opinion a check should not be made to remove all sell sl-m orders where trigger price is above the market price.

Please find attached screenshot

 

[Finvasia]

finvasia,

Please find attached screenshot

View attachment 34762

Hi lemondew

Based on the feedback from RMS, here are our thoughts

Since this is a basket order, NEST takes it as 2 separate orders. So, first order was BUY and second was SLM. In your case, first order was executed as the market was below the buy price. In case of SLM order, the system checks the LTP before placing the order. Since in this case, both order prices were below market price, the buy order got filled whereas the SLM order was rejected as LTP was below SLM order price.

We would suggest to place such order as CO or BO since exchange considers these as same order. Hence, in case the market slips below your order price, it shall execute both orders since the second order in CO and BO is SL Limit. This shall cover your risk.

Thanks!

 

[lemondew]

Thanks confirmation the sl - limit price works even if market price is below trigger price.

Hi lemondew

Based on the feedback from RMS, here are our thoughts

Since this is a basket order, NEST takes it as 2 separate orders. So, first order was BUY and second was SLM. In your case, first order was executed as the market was below the buy price. In case of SLM order, the system checks the LTP before placing the order. Since in this case, both order prices were below market price, the buy order got filled whereas the SLM order was rejected as LTP was below SLM order price.

We would suggest to place such order as CO or BO since exchange considers these as same order. Hence, in case the market slips below your order price, it shall execute both orders since the second order in CO and BO is SL Limit. This shall cover your risk.

Thanks!

 

[mbhardwaj82]

Thanks confirmation the sl - limit price works even if market price is below trigger price.

Bhai, i think foll is applicable in case of SL Limit order. Other members may add

1. Buy Order if market is up : if trigger price is more than the LTP it will be an open order.

2. Buy order if market is down : if trigger price is less then the market price it will get traded at market price

3. Sell order if market is up: if the trigger price is more than LTP it will get executed at market price

4. Sell order if market is up : If trigger price is less then market price it will be a open order

 

[lemondew]

Had a bracket order with a buy and corresponding SL. I changed my SL- M orders to SL orders. Now again it skipped the SL order. Now I encountered the following error.

Buy order was successful. Since the limit sell price was too away it rejected SL order. It accepted the order once I placed the sell SL limit price close to trigger price.
1. If I place the limit price too close to the trigger price cant it for any reason slip the limit price.
2. Are the circuit limits changed realtime during market hours?


Again suppose I choose Cover order/ bracket order as you suggested earlier.
1. Cant such an error occur in CO/bracket order you provide.
2. Is a check made before placing buy CO/bracket order whether LTP is always above sell trigger price
3 Cant the sl - limit in anyway be skipped during sudden fall if market goes below the limit price and we end up with only 1 leg in bracket order.
4. Do you restrict placing bracket order on certain scrips in realtime if it becomes volatile?

Thanks in advance.

Hi lemondew

Based on the feedback from RMS, here are our thoughts

Since this is a basket order, NEST takes it as 2 separate orders. So, first order was BUY and second was SLM. In your case, first order was executed as the market was below the buy price. In case of SLM order, the system checks the LTP before placing the order. Since in this case, both order prices were below market price, the buy order got filled whereas the SLM order was rejected as LTP was below SLM order price.

We would suggest to place such order as CO or BO since exchange considers these as same order. Hence, in case the market slips below your order price, it shall execute both orders since the second order in CO and BO is SL Limit. This shall cover your risk.

Thanks!

 

[Finvasia]

Hi lemondew

Please find the answers below:

Had a bracket order with a buy and corresponding SL. I changed my SL- M orders to SL orders. Now again it skipped the SL order. Now I encountered the following error.

View attachment 34868

Buy order was successful. Since the limit sell price was too away it rejected SL order. It accepted the order once I placed the sell SL limit price close to trigger price.
1. If I place the limit price too close to the trigger price cant it for any reason slip the limit price.

If limit price and trigger price is too close then there is a possibility it may get skipped. So its advised to maintain a healthy gap between Limit price and trigger price.

2. Are the circuit limits changed realtime during market hours?

Circuit limits for the stocks which are traded in F&O also gets changed if lower or higher circuit is breached otherwise for non - FO stocks it does not change during the market hrs.

Again suppose I choose Cover order/ bracket order as you suggested earlier.
1. Cant such an error occur in CO/bracket order you provide.

No such error can occur in bracket order as it always check the LTP for both legs

2. Is a check made before placing buy CO/bracket order whether LTP is always above sell trigger price

Yes, LTP is checked before placing order.

3 Cant the sl - limit in anyway be skipped during sudden fall if market goes below the limit price and we end up with only 1 leg in bracket order.

There are very less chances that only one leg gets traded as both orders go to the exchange at same time. If in case SL is skipped, it gets traded at market price only.

4. Do you restrict placing bracket order on certain scrips in realtime if it becomes volatile?

Thanks in advance.

BO is available in cash segment (which have FO scrips) and all FO scrips.

Thanks

 

[Newbie Day-Trader]

@Finvasia
I've been trying to open an account for my father. I was told on Thursday that my courier & documents were received by your staff. I called again yesterday as well as sent an e-mail but I've not received any conclusive answers as to when will the account will be ready. I can understand that sometimes things can take a little bit of time when it comes to handling offline documents but the lack of any CLEAR communication is annoying.

 

[Finvasia]

@Finvasia
I've been trying to open an account for my father. I was told on Thursday that my courier & documents were received by your staff. I called again yesterday as well as sent an e-mail but I've not received any conclusive answers as to when will the account will be ready. I can understand that sometimes things can take a little bit of time when it comes to handling offline documents but the lack of any CLEAR communication is annoying.

Hi Newbie Day-Trader, we have been informed that one of our sales executive called you and explained the pending formalities. Kindly submit the required documents. Thanks !

 

[Newbie Day-Trader]

Hi Newbie Day-Trader, we have been informed that one of our sales executive called you and explained the pending formalities. Kindly submit the required documents. Thanks !

Hi, I had to send physical documents because my father's details weren't available at nsekra.com but NOW, THEY ARE AVAILABLE there since the other broker updated KYC yesterday, so would it be possible to activate account by tomorrow with Aadhar verification? I'm leaving for the USA in a couple of days, which is why I'm in a hurry.

 

[soft_trader]

@Finvasia please allow us to login to scalpert from both mobile and web simultaneously.