The platform rejects a CO order if the SL is set to be more than 20%

samant
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% ?

Thanks
  • rakeshr
    @samant
    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.
  • samant
    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 ?
  • sujith
    You can check out this thread.
  • samant
    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 ?
  • sujith
    The system won't accept orders beyond the execution range or circuit limit. You may use the GTT feature for this purpose.
Sign In or Register to comment.