Day Trading Stocks & Futures

[pannet1]

I have asked zerodha about it in their thread.

Yeap TP,

I saw it. I would like to have a trader's opinion too.

 

[aja]

I have asked zerodha about it in their thread.

they will direct you to some link where they explained "how my SL got hit when price never reach on that period..." :lol:

 

[travi]

Seniors,

Can you guys please step in and clarify how the TSL works. Honestly I don't know.

TSL means Trailing Stop Loss and it only works with BO, Bracket Orders.
With bracket orders,
You will
1. enter a limit order price
2. define a SL
3. define an exit

Optionally, you can Trail by defining the number of ticks.
For. Eg:
----------------------------
Buy BO 20600
SL: 400 ticks (ie. 20580)
Auto SqOff: 20680
Trailing ticks: 400
----------------------------
This means every time price will retrace more than 20pts(400 ticks) from its LTP, it will send an auto square-off the order.

Pros:
It is based only on limit orders.
Cons:
I use it sell bcos I use SL based entry orders.

 

[travi]

TP Bhai,
for TataMTRDVR
10:36:00 1m Candle OHLC is
286.60
286.60
285.50
285.70

Your order is 19th Sec,
Buy 285.6
SL 16 ticks : 80p
Exit SL: 285.50

1. here, open=high
2. Logically, Price going down can only buy at 285.60

I don't have tick data, but did price go up and
After buy, did it go up 15 ticks?
bcos only then logically, it would have come down to make that low and hitting SL with 2 ticks loss.

 

[timepass]

I don't know for sure what happened in that micro second. But you have a point. The zerodha cc executive told me to check the trade on NSE website after 2 days. so the price must've moved around there in that period.

This means every time price will retrace more than 20pts(400 ticks) from its LTP, it will send an auto square-off the order.

In the above example, do you mean that the TSL will be moved when the price moves 400 ticks from the trade executed price or the LTP ?

 

[travi]

I don't know for sure what happened in that micro second. But you have a point. The zerodha cc executive told me to check the trade on NSE website after 2 days. so the price must've moved around there in that period.


In the above example, do you mean that the TSL will be moved when the price moves 400 ticks from the trade executed price or the LTP ?

It will move with price, but I've hardly ever used it bcos even here many have doubts on actually working.
From same example, say entry 600 and price moves/crosses to 621 or above, then TSL will move to 620.
Only after it crosses, 641, another 20pts will be added to trail.

 

[vivektrader]

It will move with price, but I've hardly ever used it bcos even here many have doubts on actually working.
From same example, say entry 600 and price moves/crosses to 621 or above, then TSL will move to 620.
Only after it crosses, 641, another 20pts will be added to trail.

That's a better option, to keep a kind of segmental trail.
Stopped using BO long time back, I only do manual trail, as the trail is arbitrary, even if one wants to use such an order, he should keep a wide trail segment as you suggested in example.

 

[travi]

That's a better option, to keep a kind of segmental trail.
Stopped using BO long time back, I only do manual trail, as the trail is arbitrary, even if one wants to use such an order, he should keep a wide trail segment as you suggested in example.

The biggest problem with CO/BO is that they execute only as Limit orders.

That means, you can put buy order only if LTP is trading higher (and wait for price to come down to buy), and,
you can sell only if LTP is trading lower.
If your limit buy price is higher then mkt price, it'll get executed at LTP and vice-versa for SELL.

For Trend trader CO/BO is useless if you see what I mean.
LTP is 700, I want to sell if 675 is broken, or buy over 725 and only SL-L/M orders will work for this.
I just trade from chart, my SL is the other side buy order.

 

[vivektrader]

The biggest problem with CO/BO is that they execute only as Limit orders.

That means, you can put buy order only if LTP is trading higher (and wait for price to come down to buy), and,
you can sell only if LTP is trading lower.
If your limit buy price is higher then mkt price, it'll get executed at LTP and vice-versa for SELL.

For Trend trader CO/BO is useless if you see what I mean.
LTP is 700, I want to sell if 675 is broken, or buy over 725 and only SL-L/M orders will work for this.
I just trade from chart, my SL is the other side buy order.

For this very reason I once mailed them to include SL-M for entering a BO CO, they replied at present its not available will inform me when it is.
That if available will make it practically automatic

 

[travi]

For this very reason I once mailed them to include SL-M for entering a BO CO, they replied at present its not available will inform me when it is.
That if available will make it practically automatic

I've also followed up, the cust care rep told me so many have been calling but its upto Omnesys to provide that product.
Apparently, Omnesys wants retail traders to bite the dust