Modiying order when max SL is hit.

doubles

Hi team,

We are working on making an automated system for 9:20 straddle (options selling) and wanted to get clarity of a couple of points.

(a) Per leg SL would be placed as soon as entry order is executed based on the Excel input file. However, let us say that before per leg SL are triggered, the Max SL (amount check) is triggered. In this case, we have options:
(1) Cancel the existing per leg SL orders and then trigger new SL-L orders like SL-M (https://support.zerodha.com/category/trading-and-markets/product-and-order-types/order/articles/how-to-use-sl-l-order-like-a-sl-m-order) and exit the open positions.
(2) Modify the existing per leg SL-L order to SL-M & exit.

We are thinking about (2) does this make more sense? Furthermore, how many times can we modify a given order after it's placed?

SRIJAN

Yes 2. is better .

However,you can only modify an order a maximum of 25 times.
This has been mentioned in the official documentation and the FAQs on this forum.

https://kite.trade/docs/connect/v3/exceptions/
https://kite.trade/forum/discussion/comment/10069/#Comment_10069

Please read the documentation and all the FAQs provided to you, most of the general questions have already been answered.