Bracket order is not allowed during premarket they say. I placed it during premarket and it got executed but without trigger price and stoploss. Is this not system failure.?

General
1

bracket order is not allowed during premarket they say. i placed it during premarket and it got executed but without trigger price and stoploss. is this not system failure…?

1 Like
2

So, did you manually place another counter order and close it?
What happened?

3

Sir,
what happen you know…
During pre-market opening i placed BO wasn’t knowing it is not allowed during premarket (I thought thing which are not allowed will get automatically get canceled like above margin orders) but my order got executed but stoploss and trigger order got canceled. I was not how to sqr off my order so I called zerodha asked them about the problem to which they said BO order are not allowed during preopen so all BO will get automatically canceled then i told them to check once again so that i can sqr off they said sure sir you don’t have any executed order So I sighed in relief And after 5 min when stock was going down repidly they called me back and told i’m having one completed order and forced me to sqr off my position. is this not misguiding zerodha persons…? is this not system or connectivity problem for BO order get executed which should have been autometically got canceled…? b’coz of this reason i lost my hard earned 60% of my margin amount within few minutes…

4

Oh, Sorry about that Aftab. Thanks for posting here.
This may serve as a guide to others.
My suggestion, if you are doing something new, please check thoroughly before doing it. Ask questions and get it clarified.

5

Sir;
I had Checked BO blog in Zconnect but there no where it was mentioned premarket order is not allowed through BO…

6

Sorry again, Aftab. Its bad luck what to say!


In this link, during discussion it is mentioned that BOs cannot be placed in Preopen or AMO. I think you might not have read it.

7

i have read this blog also sir but there also it was not mentioned…

8

06 May 2014 at 11:11 AM
Hanan
Ah-ha! Got it, Ravi. :slight_smile: The thing is you’ve been placing a Cover Order in the pre-open session. You can place only CNC or MIS orders on the pre-open session. The logic behind this is that CO and BO are grouped orders, which means that one order has to be executed for the other order to be sent out. This won’t be possible in pre-market or AMO settings, so you’ll have to use MIS or CNC.

Also in this page also it is mentioned Aftab
http://zerodha.com/z-connect/tradezerodha/zerodha-trader-software-version/bracket-orders-trailing-stoploss-sl

*Bracket orders shouldn’t be used in pre-market open, between 9 am to 9.15 am

9

There is nothing more i can do with it now. As i lost 60% of margin i have registered a complaint in sebi regarding this hope they will reply to this issue…