Zerodha - Number One Discount Broker in India

[Zerodha]

on one of my trades , i had a sell stop order but it got executed partially. so i changed the price because i wanted to close my long position. But when i changed the price the order got converted to limit order and got executed immediately at a much lower price than entered.

is this how it is supposed to behave?

Why did the order get converted from stop to limit when i changed the price only?

hmm.. i think this is what happened..

When you were changing the sell stop, you modified the price of the trigger to a price higher than the market price. Since you did so, the order got triggered immediately and selling order with the same limit price as you had mentioned along with the stop was sent to the market.

It got sold immediately at market price.

It is normal behavior, but I think you saw the order book and not trade book. The order book will show you the price at which order was sent and tradebook at which the trade actually happened.. Since you saw the order book with a much lower price(your SL price), you assumed that the order got traded at that price, whereas actually it would have been traded at market price..

As I was telling earlier, if you leave your client ID, I can run you by how to use all of this...

 

[Snake.Head]

@Zerodha
It nice if you show videos of those things it will br much useful and save your time too.
Other examples of placing various type of order type eg:- sl-l,sl-m etc
Do think about it

hmm.. i think this is what happened..

When you were changing the sell stop, you modified the price of the trigger to a price higher than the market price. Since you did so, the order got triggered immediately and selling order with the same limit price as you had mentioned along with the stop was sent to the market.

It got sold immediately at market price.

It is normal behavior, but I think you saw the order book and not trade book. The order book will show you the price at which order was sent and tradebook at which the trade actually happened.. Since you saw the order book with a much lower price(your SL price), you assumed that the order got traded at that price, whereas actually it would have been traded at market price..

As I was telling earlier, if you leave your client ID, I can run you by how to use all of this...

 

[throwawayacc123]

hmm.. i think this is what happened..

When you were changing the sell stop, you modified the price of the trigger to a price higher than the market price. Since you did so, the order got triggered immediately and selling order with the same limit price as you had mentioned along with the stop was sent to the market.

It got sold immediately at market price.

It is normal behavior, but I think you saw the order book and not trade book. The order book will show you the price at which order was sent and tradebook at which the trade actually happened.. Since you saw the order book with a much lower price(your SL price), you assumed that the order got traded at that price, whereas actually it would have been traded at market price..

As I was telling earlier, if you leave your client ID, I can run you by how to use all of this...

All i did was change the price for stop order , but the why did the order type change? just to be more clear. This was a simple order modification of stop order. Does modifying a PARTIALLY closed stop order change it to limit order?

Also i did not get a chance to enter trigger price when i was modifying the order? It was greyed out. why is this?

 

[Zerodha]

All i did was change the price for stop order , but the why did the order type change? just to be more clear. This was a simple order modification of stop order. Does modifying a PARTIALLY closed stop order change it to limit order?

Also i did not get a chance to enter trigger price when i was modifying the order? It was greyed out. why is this?

hmm.. can't really understand what you are trying to say, but i'd suggest you to try a few orders to see how it works and also use this as a reference..

http://zerodha.com/z-connect/tradez...oftware-version/stop-loss-orders-limit-market

 

[throwawayacc123]

hmm.. can't really understand what you are trying to say, but i'd suggest you to try a few orders to see how it works and also use this as a reference..

http://zerodha.com/z-connect/tradez...oftware-version/stop-loss-orders-limit-market

I don't know why its so hard to understand. I m saying a stop order got automatically converted to limit order when modifying. Note that the Stop order was partially executed , there were some lots left and this happened while exiting the entire position.

However, the burden of proof lies on me so i shall get screenshots next time and that day you will have to answer, no excuses.

 

[TracerBullet]

Once a stop order gets triggered, does it not become a market/limit order? Partial execution would have happened after it gets converted. Perhaps thats also why you cannot modify its trigger as its already triggered
I think in terms of execution matching for exchange there are only limit and markets orders (correct me if wrong)

btw, are the stop orders with the exchange(hopefully) or with zerodha servers?

Also please reply to this question. i edited it to explain question using example

 

[fxgood]

First Charting

Hi

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[Trader J]

I don't know why its so hard to understand. I m saying a stop order got automatically converted to limit order when modifying. Note that the Stop order was partially executed , there were some lots left and this happened while exiting the entire position.

However, the burden of proof lies on me so i shall get screenshots next time and that day you will have to answer, no excuses.

Sir, Aapne Dimaag ka dahi kar diya, Ha ha just kidding

 

[throwawayacc123]

Sir, Aapne Dimaag ka dahi kar diya, Ha ha just kidding

Dahi tho hoga he. This is a very rare issue and probably untested in NEST.

Guess not many face this kind of issue.

Someday you will face similar issue and will not get any answers. Just one of those nuances which we just have to accept as part of trading , even if broker is at fault.

 

[MIyer]

Dahi tho hoga he. This is a very rare issue and probably untested in NEST.

Guess not many face this kind of issue.

Someday you will face similar issue and will not get any answers. Just one of those nuances which we just have to accept as part of trading , even if broker is at fault.

Do you think Zerodha will ever accept their mistake?

I do not think so, and I have a very bitter experience with them.

Came here just to share it with other members.

June 2014 series, their system did not allow me to square-off my open positions and I had to bear huge loss in the form of STT.
They say it is a part of systemic risk and we have to bear the brunt.

I sent them screen shots to show it was not a problem from my side. Their CEO did not respond to email or posts on the Z-connect platform.

Instead they said their internal pro-traders too faced the same issue !!!

Their head of client relations said it is a systemic risk and they cannot do anything.

Very disappointing Zerodha :annoyed: