@Ashishupstox - I donât appreciate the insinuation of this last reply. A trader that burns through their capital canât trade anymore; I would much rather someone trade less frequently but profitably than frequently but unprofitably. Keep in mind, there isnât a single way to trade: we have scalpers, day traders (ex: directional, momentum, statistical arbitrage), BTST/swing traders (ex: directional trades, non-directional trades, volatility arbitrage, event trading), and positional traders (ex: equity option writing, convergence trades).
What is consistently true about trading is that capital management, risk management, and emotion/impulse management are absolutely critical for long-term success. IMO, the kill switch isnât a âtime for me to go home for the dayâ button after Iâve hit some max gain or loss; this isnât something to be used on a daily or weekly basis. I do recognize that there are at least two types of overtrading:
âPushingâ a few too many times after a good day (or a bad day to make a comeback).
âSwimming against the tideâ multiple days in a row when the markets donât align with your trading tactics.
For me, the far bigger concern is the second one â there is a huge difference between a suboptimal trading day and bleeding capital when the markets arenât going your way. I am open to considering a different time period and we can do a research study in addition to collecting more data to determine which is the best. However, there is rarely âoneâ best. What will be the best for the majority will unfortunately be suboptimal for others.
Hello Team,
Some of the good features about old Upstox app were as below:
-We were easily able to place new order directly from previously traded strikes list in closed orders window.
-while closing open order, we were continues to see the ongoing P&L until we pres order exit or close button.
Please note that the buy/sell is not an indicator. Itâs a CTA to buy or sell directly from the charts and it appears when you tap on any of the call or put option. You can choose which call or put contracts to view on the chart by selecting the specific strike price by tapping it on the Y axis. Hope this helps!
In attachments here gtt order for Nifty 2415 PE was shown as target hit initially. But when I checked in portfolio the sell order was still open. Then I tried to exit the order from portfolio that got failed. Then I went to gtt order there it was showing that sell order was still open so then I cancelled that gtt order and then again exit it from portfolio.
This type of issue I had reported previously also but not yet fixed.
This is expected behaviour. The order was triggered when the price reached the specified level but didnât execute. Since thereâs already an open order sent to the Exchange, attempting to manually exit the position results in additional margin requirements, as the margin is blocked for the open order. To proceed, youâll need to cancel the open order first and then exit the position.
@Ushnota
Yes correct ushnota.
In this case this is the time consuming process to exit the order. And in seconds one can loose much if not exited instantly.
@Ashishupstox - There are pros and cons to different order types; not every order type works for every trading style. For example:
Simple market orders will get executed quickly but there is the risk of attaining a specific price.
Limit orders provide price certainty at the risk of not getting a fill.
Stop loss orders can help protect you against downside movements but if the price gaps over your stop price, you could get the market price which is substantially lower. Even worse, the price could whipsaw back, and you could end up with the worst execution.
Stop limit orders can also help protect against downside moves and prevent the gap issues with stop loss orders. The problem is that if your limit price is near your stop price, then a price gap could result in an open sell order that doesnât get executed. While you think you are protected, you may not be.
Similarly, with order types like GTT that use price targets, you may not get the fill because there are other traders in the market. Just because you see a price on a chart (or LTP), doesnât mean that price is available. That means that someone who sent an order before you executed at that price. If the depth on the bid doesnât exist for your volume, then you wonât get executed immediately. You will have to cancel the GTT order and then execute a market order to quickly exit.
Please introduce feature to disable trading for the day when specified amount or % of capital has been lost. Many time traders psychology does not allow them to press kill switch after getting huge loss. So if system is monitoring loss and disables trading they will have chance to review their further decisions.
Please introduce this feature on tv.upstox.com also. We need SL and Target together when we place buy order or sell order. and Order slicing is not working on tv.upstox.com. Please fix that also.
