A simple code block will solve your issue at your end. Tweak it! Kite Connect API is a basic building block, we have to build logic for specific use cases. I am sure the Kite team can build it easily, but ready-made API calls will make a lot of headover in the backend; therefore, it is not feasible to develop each specific logic, rather going for general logic.
I have gone thru earlier threads already, they are not solving my problem. I already have 'close all open positions' & exit the execution of code. Currently after max daily loss is hit I'm logging in to app and manually pressing kill switch to avoid overtrading with temptations to recover the day's loss, but it doesn't always ending like that
You should have developed a proper risk management and rule based strategy. Why should we move to algo trading? Because we give a command to the computer that it will execute properly without any emotion, greed or fear that humans already have. So if your SL is hitting, then you should recheck your strategy and psychology rather than go for a kill switch logic. Kill switch will not work properly if your brain is tempted by greed and fear!
You should have developed a proper risk management and rule based strategy.
Trading is all about the risk management; you can have a simple strategy. It's very difficult to create a kill switch logic if you don't have a proper P&L setup.
@ANL to put it simple. I want to fully automate the risk management by executing the kill switch also, so I dont have to bring emotional part of manually clicking the kill switch.
'If SL is hitting, then recheck your strategy', hope you know none of the strategies will work 100% times, SL are part of trading. If you read my earlier post, I have SL in place as soon the buy order executes, also have max loss per day defined, which will close all open positions and end the code. I just want to kill any further manual interventions if specific number of SL hit in a day.
Thanks for your kind advice, I'm looking for someone from Zerodha developer team to look in to this request, as I see few more clients are requesting for this as well.
You should have developed a proper risk management and rule based strategy. Why should we move to algo trading? Because we give a command to the computer that it will execute properly without any emotion, greed or fear that humans already have. So if your SL is hitting, then you should recheck your strategy and psychology rather than go for a kill switch logic. Kill switch will not work properly if your brain is tempted by greed and fear!
'If SL is hitting, then recheck your strategy', hope you know none of the strategies will work 100% times, SL are part of trading. If you read my earlier post, I have SL in place as soon the buy order executes, also have max loss per day defined, which will close all open positions and end the code. I just want to kill any further manual interventions if specific number of SL hit in a day.
Thanks for your kind advice, I'm looking for someone from Zerodha developer team to look in to this request, as I see few more clients are requesting for this as well.