i read and get to know that broker or exchanges or market makers have a algorithm to trade the stops in fx markets, is any, this type of algorithm in our market and exchanges to trade the stops.like nse mcx etc?
No one really gets to know where the stops are placed on the exchange. Everyone is just guessing, and yeah there are a lot of such misnomers running. When someone doesn’t make money trading, the first thing is to find someone to blame. Usually the word used is “THEY”.
What is technically possible is, you can subscribe to what is called as Tick by Tick data from the exchange. You need to be on the exchange collocation for this, costs upwards of Rs 20 lks per year atleast including the colo, TBT, hardware costs .The hardware cost can go up exponentially based on what you are trying to do.
But yeah, once you have TBT data, you can see market depth upto 20 places instead of the 5 places that you see normally. If you see more depth, you have a slight advantage in terms of figuring out where the orders are placed. But again, no way to figure out what is stoploss orders and what is normal orders.
Thank you nithin for your clarification and for your time.