Please accept my sincere apologies for what you felt as SPAM earlier was in fact my impatience to get the answers.
Thanks to your last reply, now I am tracking the LTP and pushing the BO once it is above or below my BUY/SELL triggers. It is a bit cumbersome, thereby can you also please tell me if the LIMIT BO feature would be made available to us in the near future. This feature augments in removing the risks / OR missed trades that happen within a BO. I had a couple of doubts that I wish to clarify with you.
1) Bracket Order(price), now this price field is mandatory, but I believe the BO gets executed at the trigger price itself. Thereby I wanted to understand the significance of the price field in BO order type. As of now I am putting the price field just a bit more than the trigger price(In case of BUY & opposite in case of sell). What would happen if the price and trigger price are the same. Also, e.g. my tigger price for lets say justdial today was 608.60, and my price was 609. Targets I had put were 610.60 / SL of 606.60. with parameters of (2.00) for SQR off / SL. Now if the BO got executed at 609, will my target shift from 610.60 to 611? and likewise also for stoploss ? Will be great if you can explain a bit in detail. I already have gone in detail through all the existing forum comments/ topics, but still couldnt figure out a reasonable answer thereby requesting your inputs.
2) Am a bit confused about how the trailing stoploss works in a BO. As I was noticing the tick chart of just-dial today, at the time of my post its high was 615.90 and then came down. SO does it mean that if my Trailing SL was of 2 (or 40 ticks), it would have had triggered at 613.90? Does the Traling SL moves up/down with price movement? Couldnt find any good literature around and thought would be best if you can guide me on this one please.
Thanks a lot in advance and await your earliest reply.
Trailing stop loss moves in only one direction. If your stock moves in a profitable direction the trailing SL moves in the direction of stock to make sure it adjusts to the new price. Any reverse direction taken by the stock will *not* modify the value.
There is a fantastic explanation posted by Nitin in zerodha blog where he explains how BO works. I suggest you have a look at that.
This clears the TL doubt. About the BO, I have already gone through the same, but confused on tha part when a BO gets executed at levels other than specified by the Trigger/Price. As in my example above [Also, e.g. my tigger price for lets say justdial today was 608.60, and my price was 609. Targets I had put were 610.60 / SL of 606.60. with parameters of (2.00) for SQR off / SL. Now if the BO got executed at 609, will my target shift from 610.60 to 611?]
The post on BO by Nithin doesnt explain this scenario, thereby again requesting you to clarify my doubt.
There can be cases when BO is executed but the TSL doesn't move. The TSL will be active only when it crosses a threshold.
Example: you place a BOfor stock at 100 and expects it to move up. The CMP is 99.5. You want the SL value to be 98 and trailing SL is 2 Rs. Now there could be a case:
The stock is purchased @100 and moves up but never moved beyond 101.9 - in that case your TSL will never be effective. To become effective, it has to cross the threshold of Rs 2 -- that is 102.
The BO executes when the market his the price specified on it "price" field. The stoploss is held in "stoploss_value". There is no trigger in a BO. So I'm not sure what you're referring to.
Hi I happened to understand the same today as to how the BO functions. Today my stock OIL-JUL FUT , BUY executed at 377.3, instead of what I had wanted as 376.90. I had given it a target of 1.9 Rs in the BO, thereby the BO set the target price as 379.3-instead of 378.9(which I had originally kept in the Target price. The stock moved to 379 and then came down and hit my stop-loss. SO - THANKS @Nikhil.A / @sabyasm for taking the time out to reply, I eventually understood from the actual proceedings.
BUT - I had also put a TRAILING STOPLOSS in my BO as 38 ticks(1.9 Rs @ 0.05), so was it not expected to rise along with the current price? My SL hit where I had put it (375.05) OR - IS the Trailing stoploss feature not yet available for automated trading?
The other script that I traded today was ONGC- target of 233.90, it hit the target and came down, I had also put a Trailing SL there as well, but maybe it didnt work?
Anyways.
Thanks a lot, and yes-good news that it was the first time that everything went smooth and my algo trading happened (which was not happening for the past 2 weeks-coz of BUGS .. )
Trailing stop loss moves in only one direction. If your stock moves in a profitable direction the trailing SL moves in the direction of stock to make sure it adjusts to the new price. Any reverse direction taken by the stock will *not* modify the value.
There is a fantastic explanation posted by Nitin in zerodha blog where he explains how BO works. I suggest you have a look at that.
This clears the TL doubt. About the BO, I have already gone through the same, but confused on tha part when a BO gets executed at levels other than specified by the Trigger/Price. As in my example above [Also, e.g. my tigger price for lets say justdial today was 608.60, and my price was 609. Targets I had put were 610.60 / SL of 606.60. with parameters of (2.00) for SQR off / SL. Now if the BO got executed at 609, will my target shift from 610.60 to 611?]
The post on BO by Nithin doesnt explain this scenario, thereby again requesting you to clarify my doubt.
Thank You & Kind Regards
-Hrushikesh
Example: you place a BOfor stock at 100 and expects it to move up. The CMP is 99.5. You want the SL value to be 98 and trailing SL is 2 Rs. Now there could be a case:
The stock is purchased @100 and moves up but never moved beyond 101.9 - in that case your TSL will never be effective. To become effective, it has to cross the threshold of Rs 2 -- that is 102.
I happened to understand the same today as to how the BO functions. Today my stock OIL-JUL FUT , BUY executed at 377.3, instead of what I had wanted as 376.90. I had given it a target of 1.9 Rs in the BO, thereby the BO set the target price as 379.3-instead of 378.9(which I had originally kept in the Target price. The stock moved to 379 and then came down and hit my stop-loss.
SO - THANKS @Nikhil.A / @sabyasm for taking the time out to reply, I eventually understood from the actual proceedings.
BUT - I had also put a TRAILING STOPLOSS in my BO as 38 ticks(1.9 Rs @ 0.05), so was it not expected to rise along with the current price? My SL hit where I had put it (375.05)
OR - IS the Trailing stoploss feature not yet available for automated trading?
The other script that I traded today was ONGC- target of 233.90, it hit the target and came down, I had also put a Trailing SL there as well, but maybe it didnt work?
Anyways.
Thanks a lot, and yes-good news that it was the first time that everything went smooth and my algo trading happened (which was not happening for the past 2 weeks-coz of BUGS
Regards
-Hrushikesh