GTT Order: Logically incorrect key nomenclature

Developer API
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Just think deep and research, why users will use “Immediate” order when they have better option like “Below”. What is the use case where user will think to use “Immediate” order, I don’t understand it.

  1. When you use immediate order, your margin got blocked while for below order you can place as many as you want.
  2. Just to cancel order after end of day, we can’t use immediate order. We can write that code in our program to cancel Below order after end of day if we want.
  3. Instead of Immediate order, we need “AT” order to buy exactly at specified price. i.e. we want to buy at 95 regardless of CMP whether market is running at 80 or 120 we need to execute our GTT order only when CMP reaches 95. You can use MPP here so that we can specify it such as trigger_price 95, MPP 1% so that when market reaches 95 you place limit order with 95+1% which is 95.95 so order can be executed between 95 and 95.95 which is acceptable. But here you also need to make it IOC so that if price jumps over 95.95 then order gets cancelled instead of waiting for price to drop again at our limit price.

This is what other brokers are allowing, They don’t have ABOVE, BELOW or IMMEDIATE. They just have trigger_price and limit_price which we can decide by our own that at what price we need to execute our orders. And it is pretty simple than this whole confused mechanism.

Why we need to think either we need to buy above or below, that is not our task that is software’s task to decide whether it should place above or below order. We only need to think about the price at which we need the entry. We should have only one option like to enter the price where you need the entry, rest all should be decided by your software. That is what I had built if I was the backend developer at Upstox.

I have been working since last 12 years in IT industry where I deliver best of available option to my client, my client doesn’t tell me you should add this or that. They only specify their product’s idea but how to make it best that is on my hand. There are many basic features which are missing that we need to tell you everytime which your team doesn’t thought about.