@nithin The India VIX is back in 20s, however the BOs are still blocked due to “increased volatility”? other platforms have already started providing BOs. when will Zerodha start it back?
I had also asked the same question few days back in one of my posts. Still waiting for the reply.
BO might take some more time.
Most people who used BO was for additional leverage. Our Cover order product offers the same leverage as BO. Have you tried that?
@nithin yeah tried CO. the problem there is i can not exit at LIMIT price. I can only exit either as SL or at Market. So if the DOM is sparse, one ends up loosing good amount of profit (esp when trading at high number of lots).
if BO is going to take time, will there be any way to allow exiting CO at LIMIT?
Not possible for now. Maybe reduce no of lots in one order and initiate multiple CO orders.
But it will be more problematic to exit many CO orders manually. One may loose even more than a exiting a single CO order.
exactly. COs are pathetic in that sense. not understood why Zerodha isnt enabling BOs now - most of the other platforms have already enabled it.
Problem with CO is executing the 2nd leg at market price and there will be spreads, as nitin mentioned in one of his podcast that major cost for a trader is spread difference rather than brokerge and allied charges.
Enabling BO in Zerodha would be useful, hope they will do it soon.
Can you please tell, which all platforms have enabled it already? I would like to open an account there quickly, instead of waiting longer (uncertain time) here.
eg aliceblue, upstox
markets are NOT volatile now. at least u guyz remove this message from bulletin
“Bracket orders have been blocked due to expected volatility for Equity, F&O, and CDS. It will be allowed once volatility subsides.”
reword it to - “we are suspending BO orders indefinitely”
so that we can atleast take decision to move out to the brokers who provide it.
Stocks are definitely volatile, we expect this to continue for some more time.
@nithin Why not bring back BOs with decreased leverage if that’s your only concern about them?
BOs are fundamental to way I trade in that I can’t be watching the markets all the time and they eliminate the hassle involved in making multiple orders to enter and exit the same position. Infact I’ve greatly reduced my trading due to their unavailability and considering moving on to other brokers.
Not about leverage, we have noticed more cases where both target and stoploss are getting executed and ending up with new position due to volatility in stocks, both client and broker faces risk in these cases.
If you are not concerned about leverage you can try GTT.
Okay then. Seems to be a technology problem there.
GTTs only allow me to set a target and not the stop loss. Not really what I’m looking for.
It’s market problem.
No, you can place both at a time, and one cancels other. Check GTT OCO.
When will it stop being a market problem though? Seems strange to have issues like that in this day and age of cutting edge technology even considering how much a stock can move in a millisecond and volumes involved.
OCO is blocked on the buy side for every stock I checked. Its only enabled on the sell side for some reason.
On eq one can’t short stocks upfront in CNC, on fo it is available on both sides.
It’s actually enabled on the short side and blocked on the long side in equity.