Zerodha - Number One Discount Broker in India
- Thread starter Traderji
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I had a short position in GBPINR. I'd placed a take profit order. Today when I tried to place a stop loss market order, Z said there isn't sufficient margin.
But when I tried to square it off in the evening, it readily accepted the order and squared it off. The take profit order was standing.
I had a short position in GBPINR. I'd placed a take profit order. Today when I tried to place a stop loss market order, Z said there isn't sufficient margin.
But when I tried to square it off in the evening, it readily accepted the order and squared it off. The take profit order was standing.
when you have an open order, say 1X margin is blocked.
then you put a counter order, so No or very minimal margin is required ( say TGT)
but when you place SL, that becomes a fresh order that will require 1X margin which you didn't have.
In evening when you squared-off, margin was released and the take profit order was standing will remain standing but will now block the 1X margin.
That was the beauty of earlier CO/BO but exch deemed them as algo or something (and Z gave reason of hitting both legs in volatile periods) were removed for same reason. there is GTT which doesnt block margin but it can skip or cause delay in execution as the order is in Z server and not in Exchange order book
while i dont remember the exact reason but i did read BO was deemed as algo or maybe because of the trailing SL feature it had on not the 2 exit legs.
then you put a counter order, so No or very minimal margin is required ( say TGT)
but when you place SL, that becomes a fresh order that will require 1X margin which you didn't have.
In evening when you squared-off, margin was released and the take profit order was standing will remain standing but will now block the 1X margin.
That was the beauty of earlier CO/BO but exch deemed them as algo or something (and Z gave reason of hitting both legs in volatile periods) were removed for same reason. there is GTT which doesnt block margin but it can skip or cause delay in execution as the order is in Z server and not in Exchange order book
while i dont remember the exact reason but i did read BO was deemed as algo or maybe because of the trailing SL feature it had on not the 2 exit legs.
