SL and SL-M orders

KUL
Hi

For example, using your Offsite Order Execution, If we put SL-M Buy order with say Trig. Price < Current Price (opposite to what is required for SL orders), it will be triggered immediately.

When we fetch such orders using Kite-Connect API, it has LIMIT as order type. Is that right or order type should be SL-M/MARKET in such cases? SL-M order will always be executed at market price so LIMIT seems misleading.

One more feedback in case of SL orders is that Price and Trig. Price should be separated properly on Offsite Order Execution interface. Attached image for your reference.



  • nithin
    At the exchanges there are only two order types, limits and markets. Stoploss orders are essentially an in between state, where the orders (either limit or market) is kept pending until the trigger is hit. Once the trigger is hit a limit order is sent in case of SL and market in case of SL-M.

    We will add enough space between price and trigger on that order form.
  • KUL
    Thank you for reply.

    But when we fetch SL-M order, it comes as LIMIT which I think is not right. isn't it?
  • KUL
    In case of SL-M also it is treated as LIMIT order. Should not it be MARKET?
  • nithin
    We have market protection in place for all market orders. So all market orders are essentially limit orders placed 20% higher in case of buying and 20% lower in case of selling. Hence if you are looking either SL-M or even market entry orders, you will see them as limit orders.
    This was done because of many fat finger trades by traders on illiquid contracts causing big losses.
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