What is the reason behind trailing stop loss being have to 20 ticks or 1 point minimum in case of bracket orders? It works ok when the securities are priced , for example, 2000 inr , 5000 inr etc. But for securities priced at 25 inr , 50 inr etc, 20 ticks or 1 point move is substantial. Can someone (@nithin) explain it? Is there a workaround for specifying 1 tick trailing stop loss for low-priced securities because 20 ticks never works. Thanks!
Thomson Reuters who power our execution management system hasn't give us the functionality to set this minimum trailing SL ticks scrip/stock wise. Hence we are currently forced to keep it at atleast 20 ticks or 1 point.
Nifty contributes to over 75% of trades on exchange, if we allow less than 20 ticks, clients are bound to place it. Nifty typically moves 10 to 20 ticks every couple of seconds, which would mean SL having to be modified every 1 second. This can add incredible amount of load on our servers.
We are pushing TR to build the facility of being able to set SL trailing ticks scripwise. Until then it won't be possible.
Nifty contributes to over 75% of trades on exchange, if we allow less than 20 ticks, clients are bound to place it. Nifty typically moves 10 to 20 ticks every couple of seconds, which would mean SL having to be modified every 1 second. This can add incredible amount of load on our servers.
We are pushing TR to build the facility of being able to set SL trailing ticks scripwise. Until then it won't be possible.