Hi I have developed and tested an algorithm that generates reasonable wins. It's about shorting Nifty / BankNifty options. I got my code up and running, but now I am facing a functional issue. I place a short CO order with trigger price (SL) as approx 1.75 times the current price of the Option. Such orders get rejected with reason " The stop loss trigger price is beyond the allowed range of 20%. Try a price within the range." Is there any process to let me have a SL of 75% ?
What do you mean by process here? Different Order type? For CO, you will always be required to set max SL with-in the set range as it's a leveraged product.
By Process, I mean some undertaking that I sign off stating that I understand what I am doing and willing to take that risk. As long as there is required margin in my trading account, why should I be stopped from setting a 75% SL ? I can anyway place an order without any SL. Then why not let me set an order with 75% SL ?
Thanks Sujith. I checked that thread and I understand the intent of 'range'. But my question was : As long as there is required margin in my trading account, why should I be stopped from setting a 75% SL ? . And if that's the rule then is there a work-around ? Can I place a VARIETY_REGULAR SHORT MARKET order along with another long order with Constants.ORDER_TYPE_SLM to achieve the same effect ?
For CO, you will always be required to set max SL with-in the set range as it's a leveraged product.
Can I place a VARIETY_REGULAR SHORT MARKET order along with another long order with Constants.ORDER_TYPE_SLM to achieve the same effect ?