@Raj232 @ Tejas khoday @sach007,

thanks for the reply.

Called the FYERS support team to get it clarified rather than sending mails. Seems by default , bracket order are not enabled for customers. If we call and insist for the same, then bracket orders will beenabled for our trading accounts on request basis. I requested them to activate it . Will check tomorrow and see how it goes.
 
IMHO , brokerages costs are fine only(as long as it is at bearable level) and the same is needed so that brokers can earn and in turn use the same provide us a reliable platform for trading along with necessary support without any glitches . Rather than NIL brokerage , a monthly unlimited plan for frequent traders for a sum of Rs. say 1k or 2k or bit more kind of thing will be a win win proposition for both traders and brokers.
 
Any good intraday strategy will have a pre-determined entry price , target price and stop loss . And for implementing the same , bracket orders are perfect tools for traders as it combines all three into one. Easy implementation of our strategy via single order is the major advantage and purpose of a bracket order and reduced risk as well as additional leverage from brokers due to less risk are just an added bonus and not the main things. Bracket orders are more important for OPTIONS due to inbuilt leverage of derivatives and taking naked positions are too risky.
So, I have the below suggestions for bracket orders in OPTIONS :
1) Bracket orders should be enabled for buying options for all enabled indices and for all strike prices . No additional leverage is needed and it can be set as 1x i.e. equal to buy price(max loss) . Due to no additional leverage , no risk to brokers in RMS perspective as it wont get affected(as max loss margin is already blocked) even if positions are not auto squared off due to reduced liquidity. Only for most active contracts (say NIFTY AND BANK NIFTY current week,current month ITM,near ATM and near OTM) , leverage may be provided on case to case basis depending on prevailing circumstances. Even if not provided is also fine during volatile or no movement days.
2) For selling OPTIONS in bracket orders , as the risk is more in auto square off issues due to low liquidity , leverage can be provided equal to intraday leverage (or even more if required) . Atleast the most active contracts (say NIFTY AND BANK NIFTY current week,current month ITM,near ATM and near OTM) should be enabled for OPTIONS selling via bracket orders.

This will ensure that traders dont have to miss any trading opportunities due to non provision of same in trading portal and also does not increases any risk from RMS perspective and will be a win win for both.
 

Tejas Khoday

Co-Founder & CEO, FYERS
@Raj232 @ Tejas khoday @sach007,

thanks for the reply.

Called the FYERS support team to get it clarified rather than sending mails. Seems by default , bracket order are not enabled for customers. If we call and insist for the same, then bracket orders will beenabled for our trading accounts on request basis. I requested them to activate it . Will check tomorrow and see how it goes.
1. Bracket Orders are enabled for all customers.

2. Market Orders in options are not made available by default.
 

Tejas Khoday

Co-Founder & CEO, FYERS
IMHO , brokerages costs are fine only(as long as it is at bearable level) and the same is needed so that brokers can earn and in turn use the same provide us a reliable platform for trading along with necessary support without any glitches . Rather than NIL brokerage , a monthly unlimited plan for frequent traders for a sum of Rs. say 1k or 2k or bit more kind of thing will be a win win proposition for both traders and brokers.
What brokerage charges? Just win the 30 Day Challenge and you will get a 100% refund of all the brokerage incurred. We don't believe in the monthly plan. It has been tried and tested by other brokers and most of them have given up on it probably because it doesn't work.
 

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