In MIS (intraday) you can. However, to place a sell order in CNC, you will need to have sufficient shares in your holdings. Alternatively, for CNC, you can use GTT to place sell order, rather than regular CNC order.
Also in MIS, if your buy order is not filled and the prices reverse, then this will lead to your MIS sell order getting executed, creating a short position.
Hi shubam I have read this already. leave about the market order, to place market order i can do it manually iceberg is not necessary for me. but for limit order please consider the below scenario and let me know what will happen.
I wanted to place 50 lots at price 100, I give iceberg order of 5 legs with limit price 100, 1st leg gets executed and before the next leg is placed the price goes to 101 and so on to 110 and above and never comes back,what will happen in this case
If the price reaches 110, your orders will remain in pending state.
Personally i am using sticking order window as i want to get in the queue immediately. Problem with iceberg order is that the 2nd order is fired after 1st gets executed. Ideally, i would like to have a feature that if i have 9000 pcs nifty options short, i put one iceberg order for 9000 pcs with 5 legs, 5 orders of 1800 each shall get in the queue immediately. This feature does not take away anything from what we have currently but enhances the functionality. @MohammedFaisal @ShubhS9
so for market order giving manually multiple times and multiple legs for iceberg orders have same brokerage.
In case of limit orders also there is no use in fact its more impact cost than the market orders, say one leg executed at 100 and price moves 105 and above then the remaining orders doesnât get executed and we have to manually execute the order. In this case the slippage or so called impact cost is higher than than what we encounter in marker orders. I guess @nithin Zerodha should think about it and make some changes . There are more possibilities for the above scenario to happen.
If you wish to execute your order immediately, (in iceberg order) use market order option or place a buy limit order above current price.
The purpose of iceberg order is not to reduce brokerage. If you wish to reduce brokerage, take it up with exchange to revise freeze quantity limits.
Why is it so difficult to satisfy users?
All scenarios are covered with existing feature except
the user has asked a valid question and a valid scenario.
which is why I have mentioned there is no unique about iceberg which can differ from market orders. in case if brokerage is less we can say in terms of brokerage iceberg is serving a purpose, one instead of going to iceberg and waste time in settings and entering value, can do way faster in market orders.
we didnât ask anyone to please us, whatever new is implemented should serve some purpose,if the purpose of new future can be done by an existing one then there isnât a need for the new one.
if you dont have an answer you can stay put, no need to mention take it up with SEBI supreme court, govt of india. Let people who are responsible can answer.
When you wish to trade 10000 quantity in BankNifty on expiry day when it is crashing or rising quickly, do you want to place 10 market orders, clicking or swiping buy/sell 10 times instead of single click in iceberg order?
haha that is why Mr @Ragavendran_V You need to think and talk from Retail perspective. when they have mentioned in the article that this will be helpful for retail. one who is having a capital to do 10000 qty(writing options perspective) should have 4 crore margin. I feel person with 1+ crore trading capital should be considered as HNI. A HNI or Institution this iceberg might help but not for retail who has few lakhs as capital.
even If I have a capital to do 10000qty iâd still prefer market orders manually as I dont think manual order placing will take extra time than iceberg orders.
I guess u have not understand the scenario properly.
Glad u mentioned this. In that case i want all my 10 orders to go immediately and not one after another getting executed. So it does not address that. Let ppl raise issue. My request to u.
see let me be clear what is the issue am about to point out.
placing limit order in iceberg is useless, when price moves either way only 1st order gets executed and remaining stays dormant, unless price again comes to the limit which we have placed, if price never comes back(which i feel most probable scenario) then again we have to modify the limit or we have to give market price, so here the so called slippage or impact cost is bigger than what we do in manual market orders.
like @Ragavendran_V mentioned when market is suddenly rising or falling, I go to iceberg, give qty, no. of leg and finally place order. By the time i do this lets say price move 10 pts, In this scenario what i feel is i can do way faster manually giving market orders than I place iceberg orders. here Iceberg doesnât serve any purpose is what i feel.
I donât have a prob when i have 10k qty or above that, once can use iceberg orders in this case(still I may or may not). but when you say this will help retail, you need to think from retail perspective.
Hey @Abi1, the order will remain pending. As I explained above:
You can learn more about how the limit orders work here:
All orders will go immediately if you choose market order option in iceberg order. This will reduce 10 clicks to 1.
Entering normal buy/sell order at market price 10 times is more time consuming than single iceberg market order.
I personally use limit order. If the market price is 7 and if I have to sell 10000 qty I place limit order at 6.95. Usually it gets filled. It definitely helps me exit on the expiry day at 3.25 all at once at 0.05. Otherwise it take a lot of time to first exit that qty and sell again for next week.
@ShubhS9 @nithin - It would be great for traders if you could implement this,
- In the Position section
Exit all, Take Iceberg order by default to exit quantity > freeze limit.
This is a much-needed risk management option for quickly exiting the position if it goes in the opposite direction. Thank you!
@MohammedFaisal @Arockiya_Raja the last selected order type shows up by default right? Or it doesnât for icebergs?
When we exit from the position page, it always selects the regular variety; it does not remember the previous selection on this page. Because the user might have selected the AMO/CO variety and limit/SL order types previously, which is not suitable to place an exit order.
It is not just the last order type that needs to be remembered. Traders would like to exit multiple positions (each position greater than freeze quantity) in a single click without having to fill number of slices for each position.
Yes. We have to remember the multiples of 1800. 
When we place an order above freeze quantity the number of legs should be auto calculated. If we want to increase the legs we can always do that.
@Arockiya_Raja The default order type while we exit through positions page is market order. Could we please extend this to auto calculate freeze limit and place iceberg orders. This will be super helpful. Thanks 