Kite 3 Plugin for auto trading

No they won’t :slight_smile:

When you use TradeRocket they would take you to be a Covid patient.

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Btw SL does not work if if tick size do not match with scrips tick size…eg if a stock has 0.05 as tick size and if you add 0.001 ticks in SL it doesn’t get placed even if you place thru streak

No I am talking about KITE only.

I have no idea about BO as I said. What’s that in the SL/TSL box? Tick or Rs? In the example picture they were talking about one price and the pic showed another price. Then they were mentioning the SL in NIFTY in Rs. but in the window it hardly looked like Rs. Utter confusion!!

In Stocks TSL is minimum 1rs, and you can subsequently increase as per permitted tick size e.g. 1, 1.1, 1.2…

Not sure about index futures

So, in equity, a SL of 1.1 in the box= Re. 1 and 10 p?
AND 0.05= 5 p?

Yes its in rupees

Many thanks!!

I know you have probably understood the BO concept fully till now, explaining it again for the benefit of other members :slightly_smiling_face:. In BO, SL and Target are absolute values in Rupees. It means:

Suppose you have put a BO with below values:

  • Limit Buy Price: x
  • BO-SL: p (₹)
  • BO-TP: q (₹)
  • BO-TSL: r (₹). As per NSE website:
    image

Then if the stock/index falls down ₹ “p” from your entry point, it will exit the position (as SL hit). Similarly if the stock/index goes up ₹ “q” from your entry point, it will exit the position (as Target Achieved). As the price of the stock/index moves the ₹ “r” ticks upwards (as this is a buy call), your SL will become ₹p + ₹r and it will continue to move like this.

Note: Zerodha has already implemented TSL field as a dropdown with all allowed values for that stock/index. So, nothing to worry there. Thing to remember, TSL in Zerodha is in ₹, not in tick size.

@beherat

Beautifully explained!!

I have not tried BO as you say it’s now stopped. But I’ll sure do when it’s reopened.

I need a clarification though. Perhaps I got it wrong or may be you will want to re-word (paraphrase) some parts.

But in BO it should not exit and if the profit is going up the trade continues with the TSL following it closely.

Here also, my understanding is that when price crosses the TP the TSL starts its trailing job, the trade continuing beyond TP.

Miscellaneous: But really, think again. Isn’t this very inefficient? Let me give you an example.

BUY

Entry=100
TP=102
SL= 99
r=0.10

Scenario 1:
Price =102.00 Sl=99

Scenario 2:
Price=102.5 TSL=99.5 (trade continues)

Scenario 3:
Price=99.5 TSL=99.5 (trade exits)

So, a perfectly happy trade has ended in a loss. Or has it, perhaps I got the trailing part wrong?

I think your understanding is awry

TSL stands for Trailing Stop Loss.

Firstly, it does not accept anything less than 1.
Secondly it is not dynamic both sides. It is dynamic only in your intended direction.

Going by your example, if price went from 100 to 99.5, TSL does not trigger action.
Let’s make TSL as 1 and SL/TP as 2.5 to recreate a valid situation- at 99, TSL is dormant; SL is dormant.

It is only if Price went above 100 by “1” Rupee, that the TSL gets dynamic upwards.
If price went all the way to 102.45- 5 paisa short of your target- your TSL is now +2+100=102.
So, your profitability is already locked between 102 and 102.5, no matter what happens to the price thereafter.

if you just wanted the advantage of price action and volumes to lead you on, change the target- make it higher and allow TSL to lock in your profits.

correct, however one caveat if Target Point is increased then additional leverage provided due to BO option is reduced.

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Wow, why didn’t someone tell me that before? :laughing:

You tried hard, and probably all of what you wrote was correct, but it was somewhat less than appropriate to explain things to a newbie. I gave 3 scenarios. Kindly take each and point out my mistakes.

Please try to understand that I was trying to point out the inadequacy of the TSL mechanism that are commonly used, if I understand mechanisms at all. So, it would help if you stop thinking for some time about Zerodha or XYZ and discuss the scenarios in a generic manner. In short, do you think my idea of a TSL is right? Should these accidents be prevented? How to enter the numbers in the box can come later, and of course with your help.

More:
a) I know TSL can only move up. No need to explain that.
b) Ideally, a profit should go as high as it can go WITHOUT my interference but when it starts to fall after crossing TP, there should be another % factor so I can exit at, say, 5% erosion of profit from max profit value. You may need two factors in this case. This is more desirable than a vanilla TSL protocol.

I would be more than happy to reply to all questions but I am sorry I am not bemused by your lack of common courtesy while trying to follow up with your questions

Go figure

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You can’t see your back and I don’t blame you for that. But know others can.

You may hand over the case who can do his job and not throw tantrums (btw, YOU were discourteous to start with).

I also can’t see my back, interested to know who can :innocent:

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By your own admission, you have been most probably living under a rock- as far as Bracket Orders are concerned.

While I thoroughly appreciate the efforts team streak, trade rocket et al have invested in replying to many of your queries, it still begs the question- why would an ignaramous want to parade his lack of civility.

With these thoughts on the back burner, I have to give you the benefit of doubt. You are perhaps too programmed to behave and conduct without condor.

I cannot blame you.
My apologies in wanting to add my twenty cents.

You are by far an exception on this wonderful site and must I say that I have thoroughly relished this forum and I intend to stay teachable always.

All the same, I don’t give two hoots to your Curt replies.

I shan’t waste my breath on you

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Btw one final thought (wet 3rd case). Does TSL means trade once gone into profit can’t turn into loss? Isn’t it depends upon TP, SL and TSL settings together?

I guess any order kind cannot be automatically executed by system as per regulatory rules.

With the Traderocket plugin the SLM orders are not executed automatically. User has to manually confirm it.