Basket Order - Need Refinements

We use Basket orders basically for F&O strategy legs and also importantly for margin benefit wherein buy is done before the sell.

But a problem here is the buy order normally is in far OTM contracts and hence might have issues even without Limit orders (Limit orders will have larger issues).

Another problem is if we want to place SL & Target orders (since believe realistically BO orders might never come back :slightly_smiling_face:) then we need the original order to first get executed before placing these exit orders (panic sets in if the orders execution goes against)

This will lead to margin default or unwanted orders execution resulting in losses.

So basically what we need is some kind of surety mechanism (radio button or something) where the second order is placed/executed only if the first order is executed (order execution is followed based on previous orders status - completed or pending with popup windows)

Hope Zerodha comes up with something for the above.

This is not possible as basket orders are just a way to send multiple orders at a time without considering the response of previous order in basket.


You understand the problems rt - Is there any solutions or it can only be handled manually - with no support from the SW.

I got it, but only manual as I know.

@shiva. Dont you think its practical?

  1. the program firing the orders can be altered to check the condition of the 1st order outcome, and its status as input to trigger/reject next order and so on. If any of the order in the middle fails, then rest of the chain fails.
  2. You can also enable a 2nd button/option for reset, which resets FAILed orders only, instead of the whole basket again. ELse its cumbersome to check each order status in the position page (order completed/ failed status is gone as soon as you reset)
  3. The basket order widget/window isnt floating/cant be maximized-etc. Hence mouse clicks are too damn much even to adjust a couple of orders. If there are 10+ orders, the situation become stupid if all the orders need to be modified
  4. provide ‘add to market watch’ option for any entry in the basket (and vice-versa also would be great)

Hope the above are reasonable requests, not affecting your entire backend… but only the cosmetics of it and can be done in a jiffy for a team like zerodha tech-team.

Not possible as this comes under algo and also previous orders can sit as open, few may send unrelated legs, few may be trying to exit for 10 positions and we can’t stop remaining nine if 1st order is rejected.

Don’t need to see positions page, can selectively modify failed order and send only that order again from basket it self.

Even if it’s floating if one need to modify 10 orders it takes 10 clicks right.

Will check on this possibility.

Here let the user decide to link it to previous order or it to be independent - in that if user decide let the order chain not go forward if previous has failed.
The aim is we don’t want to end up with margin default for an order not going thru which is no fault of the trader.

There is any possibility to auto exit for the option legs.
For example I have bull spread and (Like two legs) I got the desirable profit Ex-2000 RS then can be auto square off possible? Because many time it has been hit but when I try to square off manually the profit was not getting exactly due to volatility.

These are doable but comes under algo trading which is not allowed for retail so we can’t implement these.

For my point how different is it wrt BO order wherein the target orders are placed only after original order is executed?

BO is algo, got it approved as a separate feature. In this case it is not allowed as it comes under algo and this can’t be get approved.