Hello I am trying to place a buy order below the current LTP. In order to save margin, I am trying to make the order_type as SL (stop loss) I read somewhere that stop loss orders reside in the exchange, not the broker systems.
Does that mean, that my margin will get utilized as soon as I place the SL order. Ideally I wanted that the margin should be used only when the trigger_price is met and when the actual Limit order is placed.
Another question is that is it even allowed to place stop loss Buy order below the current LTP ?
A follow up question is that in GTT orders, do we have to fetch the LTP price and then send that in the GTT request or can we send anything like a fixed number like '1' there. Is that field used in the API call?
Secondly, there is a limit of 250 GTT per account. Does that mean that I can only send 250 GTT or I can send 250 GTT in a day and then delete them in the evening and then send another 250 GTTs next day ?
ok understood. what is the logic of requiring the LTP in the API - as in that is something that the zerodha server would know itself. is it so that trigger itself gets created only when ltp becomes equal to the LTP provided in the API call?
we use LTP to decide direction of breach of target/sl for single leg and two leg. By the time GTT is created at the backend, LTP might have changed. Hence a correct LTP is required while placing GTT.
I placed a GTT order from my program and it got executed when the required price was met. However I didnt receive a postback call (I receive these postbacks when I place normal orders). The documentation states that I am supposed to receive postback calls in just the same way for GTT. If I call the orders API manually, I can see the completed order, but I didnt come to know of it automatically.
You won't receive postback for an order that is triggered from GTT. You will have to rely on order updates on Websocket API for this. You can use order update as the event to fetch orderbook and check the latest status and filled quantity.
You can use GTT orders.
A follow up question is that in GTT orders, do we have to fetch the LTP price and then send that in the GTT request or can we send anything like a fixed number like '1' there. Is that field used in the API call?
Secondly, there is a limit of 250 GTT per account. Does that mean that I can only send 250 GTT or I can send 250 GTT in a day and then delete them in the evening and then send another 250 GTTs next day ?
At any point in time, an account can have only 250 active GTTs in the account.
I placed a GTT order from my program and it got executed when the required price was met. However I didnt receive a postback call (I receive these postbacks when I place normal orders). The documentation states that I am supposed to receive postback calls in just the same way for GTT. If I call the orders API manually, I can see the completed order, but I didnt come to know of it automatically.
Any guidance there?