Hi, i am Tarun, on 15,sep,2022 i took a intraday short position in a scrip name “paradeep phosphate” at ₹69.65 with a stoploss of ₹70.05 which was executed by 9:32 am and afterwards within 2-4 minutes it touched ₹72 but my position didn’t squared off. At 9:42 am the squared off triggered and my position got squared off. I want to know whether the its the negligence from broker side as its stoploss didn’t triggered at the time its need to be. Who is liable for the loss because of the delay ? Can i take any action against the broker as its a non execution of order?
Stop loss order will be placed at the exchange by your broker.
It will not be pending for trigger at your brokers level.
I assume it was a SL-M order based on your description.
After the trigger, execution of the square off buy order will depend on liquidity of the scrip.
When we place order, the order reflects in “open order” until its get executed. When the order got executed its stoploss order reflects in “open order” in there application. But in my case, after execution of the order, the stoploss didn’t reflected in “open order”. What is the reason for non reflection of stoploss order in “open order”? If i square off my executed order manually, then after sometime the stoploss order also takes place which result in more loss. For ex:- i placed an short intraday order at ₹69.65 with a stoploss of ₹70.05 and afterwards my order got executed at 9:32 am. Then within 2-3 minutes the price touched ₹72 and my stoploss didn’t squared off even not showing in “open order” so i manually squared off my position. Thereafter at 9:42am my stoploss executed at the price running at 9:42 am (lets say the price at 9:42 am was ₹74) result in long intraday position and i don’t know about the new long position because i had squaredoff my position manually and at that time there was no open order reflecting. Now if the price went down from ₹73 then who is liable for the loss? Because i was helpless, first my stoploss didn’t squared off because of that i manually squared off my position resulting a loss more then i ecpecting, second the stoploss got executed at 9:42am , which was need to be executed when the stoploss price was hit which also resulting in loss if the price went down and also result in penalty by a broker (if i didn’t open the application thinking that there is no intraday position now) for not squaring off till 3:20 pm. Please guide me still there is no negligence!
I don’t remember experiencing this, but I can tell you this.
What you are saying may be correct, that you placed an order, but if for some technical reason, your order did not get executed as per your price, and got executed later. So it is a technical glitch, a technical problem.
I don’t know how these rules are written, if it is mentioned that there is a chance for a small technical error, or it is mentioned that no chance for such errors. GTT on some brokers is not guaranteed. So with your broker, if they have mentioned that out of 1,00,000 orders placed at the same time, one order may not get executed, so this time your order did not execute.
So contact your broker first, then the exchange, and know what happened.
It’s not my business to say about what you trade, but man that bars look like it went through a glitch. Hope, it works for you.
Let me give a try. The price just shoot beyond your SL, and your SL were in queue shouting, hey you forgot me. Then, current bids and offers were just dry and then it again came to your queue.
It’s just the damn stock, my best guess.
But let the experts come in. Just read the name and put a wild guess that this pradeep smthin chart ll be as ugly as hell.
Forgive my pov. You might have seen something beautiful.