I usually short NRML options and carry them over. And almost always it works good.
But in last 6 months, it happened twice that i shorted in MIS mode and didnt notice. It got square off automatically.
It happened 2-3 days ago and i was freaking out about why my sl had been cancelled at 3:25 when it usually happens after market close. Then 30 seconds later, my positions got exited too. I was convinced that either my account has been hacked since i couldn’t see any margin issue.
Keep in mind that i have been using zerodha since 1.5 years and this was only the 2nd time so i didnt immediately think about MIS and auto sq off
I know that this is my fault. I need to double check my order type.
But it would be superb if you guys could send a notification at 3:15 whcih said you have open MIS orders which will be auto sq off at so and so time. It could be irritating for some traders so you could make it opt in/opt out depending on what you think.
Android also has a notification channel feature whereby we can block specific categories of notification. This alert could be “MIS Sq off warning” category as well which traders could disable if they dont want it.
It could help a lot of newbies and forgetful people though. When i think about it, yes it will affect your revenue slightly since these orders are 50 rs. But please do consider it.