Basket order feature on Kite web - Testing & Feedback

[nithin]

@maddy_Des

Or add place button to each leg. We can manually fire one by one.

Yeah, we plan to give that.

[maddy_Des]

@nithin

it considers the 12000 CE short and long (in the same sequence)

I don’t think Sir.

1. 12000 CE short = 2079714
2. 12000 CE long = 2100
   Now it should consider the position hedged and reduce the required margins accordingly.
   
   
   
   But it don’t.

I think it takes worst case scenario into consideration, wherein all sell orders get executed.
So in above example it do consider short call for hedge but do not consider buy call leg as hedge to short call and reduce overall margin

[siva-reddy]

@maddy_Des

I think it takes worst case scenario into consideration, wherein all sell orders get executed

Obviously, sequence matters, in this case system check for sell order margin and assumes it is completed, then buy leg enter and assume that is also completed. Final margin is assuming both sell and buy is completed.

[nithin]

@maddy_Des

So in above example it do consider short call for hedge but do not consider buy call leg as hedge to short call and reduce overall margin

The overall margin gets reduced in final margin right? How can it reduce in the required margin field?

[maddy_Des]

@siva-reddy

buy leg enter and assume that is also completed.

No no no no
This is what, that’s not happening. Sirs, see the SS again.

Order 1 - 2079714
Order 2 - 2100
Now combined margin for Orders 1 & 2 is 688464 only

Order 3 - 2006694 (as posted by @nithin)

So cumulative margins can be 2006694+688464 = 2695158

But here Order 3 gets coupled with Order 1, & we get margins of Strangle.

So instead of (Order 1 + Order 2 + Order 3) sequential logic Or (Order 1 + Order 2) + Order 3
we get (Order 1 + Order 3) + Order 2.

[siva-reddy]

@maddy_Des

Now combined margin for Orders 1 & 2 is 688464 only

I got it what you are saying but to cover all these cases may not be possible for now, required margin is addition of all individual margins next to it assuming above orders of it are executed.
So, in this case your margin needed is lesser than required margin which is showing.

[maddy_Des]

@nithin Will basket get rejected by shortfall in “required margin”?

Or will it be decided step by step at execution level?

In any case give us ability to fire legs one by one on our own asap.
This will give us some control, and fiasco caused due to orders getting rejected/ errors/ margin calculation delays will be avoided.

[siva-reddy]

@maddy_Des

will it be decided step by step at execution level?

Step by step at execution level.

@maddy_Des

In any case give us ability to fire legs one by one on our own asap.

Will provide soon.

[maddy_Des]

@nithin @siva-reddy
Giving some improvement suggestions in UI & functionality here

1. This will reduce 2- 3 extra clicks. Increases speed as user can directly execute order
   

   

2. This is must and do it on priority.
   

   

[siva-reddy]

@maddy_Des

This will reduce 2- 3 extra clicks. Increases speed as user can directly execute order

I think it is ok, just one click is extra to edit/delete. To fire maybe it is better to see orders once before execution.

@maddy_Des

This is must and do it on priority.

Yeah, will be added soon.

[nithin]

@maddy_Des

This will reduce 2- 3 extra clicks. Increases speed as user can directly execute order

And to add to what @siva-reddy said, it will also be a compliance issue if we allow orders to be placed without the client knowing the actual orders being placed.

[anon31396786]

@siva-reddy

Basket will be saved once created, if one want to exit then they have to create another basket with sell orders if initial basket is buy and viceversa or change the order type in same basket and execute.

Once basket order is executed all the position will be shown as individuals. Right ? So we can exit script whenever we want.

[siva-reddy]

@anon31396786

Once basket order is executed all the position will be shown as individuals. Right ? So we can exit script whenever we want.

Right, basket is just a way to enter trade, you can do what ever you wish with positions.

[siva-reddy]

@Gautam

Can multiple basket orders be placed (at once) on a single instrument/script, equity for instance with the max allowed quantity that is 100K for individual order and similarly 100K for the rest in the same script/instrument?

I believe that is answered in main post, yes in same basket one can place all 20 orders for same instument.

@Gautam

Are all the orders in the basket placed in the exchange instantly or is there some delay?

Milli sec delay between each order.

[siva-reddy]

@Gautam

If the option to add some delay parameter among the various orders is added then we could assign a few seconds delay to the sell orders which would guarantee these rejection issue doesn’t happen or even if you add this feature from your side then this issue would never happen and users would be assured that their orders are always executed and hedging befits are availed.

Also if this delay option is provided then it would be highly beneficial for scalping. Users could fire the first buy/sell orders and forget as the reverse order would be automatically fired with the entered delay (20-30-60 sec), saving time and locking in profit/loss.

Will provide option to place orders manually in coming days, that should solve it.

[maddy_Des]

@siva-reddy

coming days

Ohh! I was thinking in coming hours.

[nithin]

@nithin

Replacing a rejected order

Assume a few of orders which are part of your basket gets rejected for some reason. You can edit the order and execute them manually from the basket order window itself.

@maddy_Des just added to the post above. If an order gets rejected for any reason, you can edit it and replace the order manually.

[maddy_Des]

WOW!
I think we are going to get manual execution orders sooner now that button is already there.

[adxadi]

@nithin @siva-reddy Thanks for this useful basket order feature.

Are we able to see the MTM Profit / Loss for each executed basket?

Also can I square off the entire basket at once?

[siva-reddy]

@adxadi

Are we able to see the MTM Profit / Loss for each executed basket?

Not as of now, this is just starting version, in coming days we will add many cool and complex features which I think will wow our clients, will take time though.

@adxadi

Also can I square off the entire basket at once?

Yes, your choice.