I had my code prepaid from a developer in python. I have a basic knowledge of coding. I am confused between 2 approaches to placing orders in the system. I am retrieving the data via Websockets of all FNO stocks.
Code Logic - Once a particular 5 min candle low/high breaks, order needs to be placed in the system
- Waiting for low of the candle to be broken and then place a limit order in the system, based on bid ask spread
- Many orders are getting skipped, and are not getting executed.
- For sell trades, Once the 5 min candle is formed, place a sell SL order in the system before the low is broken.
Now the person who has written the code says that the solution won't make much difference as both Limit & SL orders execution time will be the same. I want the experts on the forum to confirm, whether the 2nd approach of placing the sell sl order already in the system would be beneficial or not.