FYERS

[Newbie Day-Trader]

The Leg 1 will have 1 exchange ID, Order ID. However, you must check your trade book to confirm if the trade went through in one shot. It depends on how the trade is executed. Please check the trade book and revert. Thanks.

Ok, I just checked the "Trades" tab, & indeed, the entry-order had two executions. Nonetheless, it would be nice if you could find a way to allow traders to merge multiple SL's or TP's into a single-order because it's just too cumbersome to have to move several SLs & TPs in fast-moving markets, especially given that Fyers Web takes a few seconds to modify orders as it is. The whole point of trading from charts & BO is to facilitate greater speed & efficiency in trading but if you have to juggle several SLs & TPs (I can't even imagine the situation for someone trading large BO positions in Equity/Cash segment with dozens of executions ), then it's time-consuming & any benefit of chart-trading & BO is lost altogether. Please consider some sort of a solution for this issue. Thanks.

 

[Tejas Khoday]

Ok, I just checked the "Trades" tab, & indeed, the entry-order had two executions. Nonetheless, it would be nice if you could find a way to allow traders to merge multiple SL's or TP's into a single-order because it's just too cumbersome to have to move several SLs & TPs in fast-moving markets, especially given that Fyers Web takes a few seconds to modify orders as it is. The whole point of trading from charts & BO is to facilitate greater speed & efficiency in trading but if you have to juggle several SLs & TPs (I can't even imagine the situation for someone trading large BO positions in Equity/Cash segment with dozens of executions ), then it's time-consuming & any benefit of chart-trading & BO is lost altogether. Please consider some sort of a solution for this issue. Thanks.

So that means that your order was executed in 2 parts. Accordingly, there will be multiple orders for Leg 2 & Leg 3. This is how it is supposed to work. Merging multiple trades is not possible Newbie Day-Trader. It's easy to say yes and do something fancy but at the end of the day, the execution has to be to the dot, right? Think about it from an execution standpoint rather than brokerage or convenience aspect.

 

[msmee]

@msmee, Like I said in my previous post, Please check the "Trade Book" to get the exact break-up of the order execution. I can understand the pain in understanding the bracket order mechanism but you must note that it is the trade book that will show you the exact details and not the order book.

Hi @Tejas Khoday

The mechanism of BO is understood thanks to your earlier clear explanation. The pain is during modification of price of Leg 2/3 after the initial order executes in multiple trades and of course there is the added disadvantage of higher brokerage.

Considering today's issue i faced, your support team placed a counter order in MARGIN category to negate the open BO position. The said that BO orders were cancelled by exchange. As of now i have two positions one short (02 qty in BO category, placed by me) and one long (02 qty in MARGIN category, placed by support). The effect is i have NIL net positions, my margin limits have become negative and i cant place trades anymore. Notably the original BO order was filled in 02 trades.

Thankfully my positions have become NIL or at least i hope so. But what will happen at EOD? Will the open MARGIN position be carried over to tomorrow (i want to end the day with NIL position).

 

[Newbie Day-Trader]

So that means that your order was executed in 2 parts. Accordingly, there will be multiple orders for Leg 2 & Leg 3. This is how it is supposed to work. Merging multiple trades is not possible Newbie Day-Trader. It's easy to say yes and do something fancy but at the end of the day, the execution has to be to the dot, right? Think about it from an execution standpoint rather than brokerage or convenience aspect.

Well, brokerage & convenience does matter, doesn't it? Isn't that why you have 30 Day Challenge because traders want to save on brokerage? Isn't that why you have an advanced trading-platform with chart-trading & BO because traders want to trade quickly & conveniently? Of course, execution & stability matter but that's beside the point.
I don't know how it would work at the back-end but I wish there was a one-click way by which all of the redundant SLs & TPs would be merged; I'd rather pay an extra Rs.20 for a facility like that, which would make things more convenient for me rather than as things stand right now, whereby we're paying more brokerage for something that is making things less convenient for us.

 

[timepass]

Well, brokerage & convenience does matter, doesn't it? Isn't that why you have 30 Day Challenge because traders want to save on brokerage? Isn't that why you have an advanced trading-platform with chart-trading & BO because traders want to trade quickly & conveniently? Of course, execution & stability matter but that's beside the point.
I don't know how it would work at the back-end but I wish there was a one-click way by which all of the redundant SLs & TPs would be merged; I'd rather pay an extra Rs.20 for a facility like that, which would make things more convenient for me rather than as things stand right now, whereby we're paying more brokerage for something that is making things less convenient for us.

You know, even in Nest you can't square off the Bracket orders from "Exit" option. Don't know if the Fyers softwares have one click exit option, but surely it is difficult to club multiple orders into one. Difficult enough at the broker's end, probably won't be allowed by the exchanges.

But yes, it would be very nice to Exit multiple orders on a single click, very helpful if the trade is going against you. Good suggestion. Maybe Fyers can work something out at their end.

Suppose you purchased 2500 shares of JSPL in 5 orders at average Rs. 183.25 and the price is running against you. In this case you don't want to wait for the SL to get hit and maybe want to exit everything at CMP, then it would be wonderful to be able to do so from the "Net position" or something.

 

[Newbie Day-Trader]

You know, even in Nest you can't square off the Bracket orders from "Exit" option. Don't know if the Fyers softwares have one click exit option, but surely it is difficult to club multiple orders into one. Difficult enough at the broker's end, probably won't be allowed by the exchanges.

But yes, it would be very nice to Exit multiple orders on a single click, very helpful if the trade is going against you. Good suggestion. Maybe Fyers can work something out at their end.

Suppose you purchased 2500 shares of JSPL in 5 orders at average Rs. 183.25 and the price is running against you. In this case you don't want to wait for the SL to get hit and maybe want to exit everything at CMP, then it would be wonderful to be able to do so from the "Net position" or something.

I've never used Bracket Orders on Nest because they only offer limit/market entries the last time I checked whereas as a breakout-trader, I like to put SL-M or SL-L orders & let the market get me into trades. It might be difficult & cumbersome but like I've said, I'd rather pay for something that makes things more convenient than that which makes things less convenient. I'm not a broker & I don't know how things work for them, so I might be speaking from a point of ignorance but then, I'm a trader, so I can only speak from a trader's perspective, & whether a broker can implement something efficiently enough or not is something for them to think about. There's at least one broker whom I'm trading with who doesn't have this issue of multiple SLs & TPs even when there are multiple executions on the entry-order, so it certainly seems possible to do so.

 

[timepass]

Fyersbhai... the backoffice is not working at this moment.

Tried through different browsers. Will re-try in a while.

 

[Srinivas I]

MCX working fine for me. @Tejas Khoday, thanks for introducing optional continuous futures charts.

 

[Tejas Khoday]

Fyersbhai... the backoffice is not working at this moment.

View attachment 34328

Tried through different browsers. Will re-try in a while.

Are you checking for ledgers of the previous financial year?

 

[Tejas Khoday]

Well, brokerage & convenience does matter, doesn't it? Isn't that why you have 30 Day Challenge because traders want to save on brokerage? Isn't that why you have an advanced trading-platform with chart-trading & BO because traders want to trade quickly & conveniently? Of course, execution & stability matter but that's beside the point.
I don't know how it would work at the back-end but I wish there was a one-click way by which all of the redundant SLs & TPs would be merged; I'd rather pay an extra Rs.20 for a facility like that, which would make things more convenient for me rather than as things stand right now, whereby we're paying more brokerage for something that is making things less convenient for us.

Of course, convenience matters! In fact, that's something we pay a lot of attention to. However, somethings cannot be changed for the sake of convenience if it jeopardizes the basic functionality of the order type.

1. I wish there was an easier way of implementing it. At the end of the day, a Bracket Order has to be in line with the requirements of the exchange too. We can't merge orders or change order quantities of pre-existing orders.
   
   
2. If we change the order quantities, it will be automatically done so without prior permission and that has other implications to it. Each order has to have a pre-confirmation before any modifications etc.