Both my SL and target on bracket orders got hit, what do I do now?


#30

Hmm… like I explained in my comment above, there is time taken to react when target order is hit right? It is fast, but it can never be same time. The same way you would take time to process what I write, every program will take time, it can be in milli seconds, but everything needs time. In that time, if another thing happens, not possible.


#31

that is Why I hate Bracket Orders and also dont use Stop Loss orders either.

I always use NRML orders only. dont set stop loss. Dont set stop loss is because my stop loss limit is more than Daily range.

for this Dont trade in High beta High volatility stocks which swing more than 3% in a day. ( But these days most stocks moving more than 3% I just stopped trading in stocks and doing in Nifty Futures )

If we find something easy and convenient to trade that is also easy route to destruction.


#32

sl depend upon how much stock is voletile,


#33

“Very tight target and stop-loss” is the moral here in this scenario.

What should be the optimal ratio of target and stop-loss Mr. Kamath, where we can control those milliseconds and not get into this scenario?


#34

I have the same question @nithin. for example Nifty futures - How much should be the gap between SL and target, for BO orders, for such things to not happen?


#35

I’d say keep it atleast 5 points.


#36

Thanks for the suggestion.


#37

@nithin

I would like to raise my concern regarding to BO issue which rejected SL and Target and incurred huge loss without my fault. there is no satisfactory response from your team
I submitted JustDial Fut Sell BO order of trigger price 381 with SL and target of 10 Rs. I found that order was executed at 10:28 AM on 2nd Feb and created 2 orders ( 391 SL and 371 Target ) in open order. within a min i found that my SL triggered and both orders removed from Open Order tab. post that i did couple of trades on Justdial.
Now I found that 381 BO was kept open in Position which system did not allow to exit because it’s removed from Open order tab. I called your support number but as usual no luck. I did not get any call/message from your support team to know what’s going on and how to exit it.
Your system did not provide any way to exit that position and your RMS team submitted counter NRML order at 12:50PM ( waiting for more than two and half hours to reach the loss to maximum at 461). Still there was no message and call from your support team what’s happening.
My request to you is, I had positive margin in account then who should be responsible for this loss which is not my fault.
If your system provided the functionality to exit the order even it’s rejected by NSE then i could control my loss and exit at 10:30 Am when price was at 395/396.
Why did not your RMS team called to customer to protect them and took action immediately to stop the loss at 10:30AM.
I had positive balance which got wiped off and also got an email to pay additional -Ve margin of 84K.

I kindly request you to look at the problem and let me know who will recover this loss.

Would appreciate if you fix this BO issue asap which can help others to avoid similar situation in future.


#38

I think you raise this issue with SEBI and you will get a favourable response and resolution.


#39

What A dammm Disaster Man.
I really feel sorry for your loss.
I know the full process to recover your Loss.
Let me know if you are interested.

You need to register your complaint here if you traded in NSE.
http://www.nse-investorhelpline.com/EIS/

Here, You first register yourself and provide all the details related to that trade where you faced this Loss.

It’s Totally online process.
In 1-2 days your NSE Zonal officer will contact you.
You can sort out the issues with him and he will help you out in this matter.


#40

Issues like this are not raised to SEBI directly.
SEBI have made process for this.
There are Step by step process to deal situation like this.


#41

Thanks for understanding the traders pain and expected Zerodha should also understand and resolve it amicably to WIN customer’s confidence. please suggest the way to resolve it and recover the loss.


#42

Already Answered above.
Follow the steps.


#43

I think Placing STOPLOSS means we are ready to feed this(SL value) much max to the daemon (Counter Trader) to save our CAPITAL and is up to temper of daemon to accept our offering or to release profit to us. :smile: :grin: :rofl:


#45

I read all comments above. In Icicidirect the cover order SL price and profit order limit price we enter in order form will be first validated. If the required difference is not there system will not even process your order form and appropriate message will be displayed


#47

For now one only should give appropriate difference, also as this has 3 legs it would be pretty tough to implement above logic.