SL-M Order - Close All Positions at Once

General
1

As we know NSE blocked the SL-M orders for options, if I have multiple open positions (more than 10) can I close all positions once? If yes, how does the broker system process this?

2

I think it will be market order for faster execution.

3

Market orders are disabled, right?

4

Stop loss market order is disabled.
Is normal market order also disable ?

5

You’re right. BTW, When we exit all positions at once how does the broker close positions? If the broker uses a market order to close the positions there’s a chance that it may cause a freak trade?

6

Yes market order is very necessary and it cannot just be banned. So no chance of market order getting removed, it depends on us to be safe by placing limit orders especially in options/fut too.

Now coming back to the question, as far as I know, You like select all of your positions to be closed exactly at the same time. When you do such a thing, the system knows that it’s urgent. So it will proceed to place market order for all positions at the same time. Yes, there are possibility of freak trades.

However, there are other options like basket order. Place basket order for all your positions with a limit price.

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7

I got it, thanks

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8

I have an idea in my mind.

Say, I have 10 open positions and I want to close them all; I select the positions and the system asks for max buffer price (ex: if the LTP is 110 I give “5” as a max buffer for all positions i.e 115 is the exit price) same with other positions.

So the system will send the orders to the exchange higher than LTP with the given buffer of all the open positions.

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