October 4, 2020, 2:36pm
Scenario for example
(This topic is all about MIS Order Type)
Buy a stock @ 100 with SL of 95 with MIS
(Don’t want to use BO for some reason)
So Now if i want to place my target pending order @ 105 so i have to place Limit sell order @ 105
My requirement is if my stock touch 105 LTP my position has to be square off @ market price
but zerodha have only Limit order system for this scenario…
Squre off position with selected price with market order not available in zerodha
Zerodha is famous for innovation
So plz provide this kind of order mechanism for us…
Hmm mm… But why would you need that? Placing a limit order at 105 makes sure that you will get that price.
October 4, 2020, 3:34pm
No my friend
@Avi_Garg if we trade with little bit of high quantity then Thare is problem
Assume if we place 105 limit order.
And stock touch 105 for just fraction of second and move back instantly
so in that case our order quantity was not filled fully bcz we place limt order…
To filled our full quantity stock has to touch 105 or higher once again
If Market order option is available in this case then our order was filled fully at single attempt…
Hmmm… I thought about that scenario but wasn’t sure as to why you wouldn’t want the price you need. But as you mentioned the issue of high quantity, then yeah there could be made a function of market order for profit taking which would be useful for such cases. Only the admins can answer about upcoming developments, so yeah.
I believe, your requirement indicates algo based on the price alert order system.
For eg. If the stock moves to 105 ( trigger price), the order gets activated and sells the stock at the market price.
This cannot be done in MIS for now, but Zerodha has a price alert tool that can help you. Please refer the below link.