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  • Features (Trade logic)
    • List of all Trading features
    • Entry logic: Entry by Premium
    • Entry logic: ATM %
    • Entry logic: Straddle Width
    • Entry logic: Straddle Premium
    • Move Stoploss to Cost
    • Positional trades
    • Premium Matching functionality
    • Re-Entry / Re-Execute
    • Wait & Trade
    • Underlying based Entries & Exits
    • Range Breakout
  • Advanced Settings
    • List of all Advanced Settings
    • Entry order delay & Exit order delay
    • Calculate entry & exit using Average price or LTP
    • Re-entry method
    • Re-entry timing settings
    • SL order placement delay
    • Re-entry max count Type
    • Re-execute order delay
  • Order types
    • Order type: SL-Limit
    • Limit / SL-Limit EXIT orders
    • Limit / SL-Limit ENTRY Orders
  • Other features
    • Square off individual legs
    • Clientwise Stoploss & Target
    • Auto exit on margin error
    • Retry button for individual orders
    • Telegram Notifications
    • Advance placement of Re-Entry orders
    • Multiplier
  • Important topics
    • Limit Price Protection (LPP) mechanism
    • BSE Sensex & NSE Midcpnifty
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    • Zerodha
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SL order placement delay


SL order placement delay

This functionality allows the Stoploss orders to be placed with a delay, after the stoploss is hit.

Essentially, this functionality allows the Stoploss condition to be re-checked again after N secs of the stoploss getting hit the first time, which means that after the stoploss is hit, the algo doesn't exit the positions immediately, in fact, it will wait for another N secs, and at the Nth second, it will re-check if the stoploss hit condition is still true, if the stoploss condition is fulfilled only then the algo will exit the positions.

USE CASE: 
This functionality delays the placement of stoploss exit orders after the stoploss is hit, and re-checks if the stoploss is hit after N secs, saving the order from getting executed in case of a price spike. A price spike, wherein the price doesn’t continue to move in the direction of the stoploss, but just spikes up to the stoploss price and reverses. This feature can be helpful mainly on Thursdays where gamma is high and price spikes occur frequently OR in the case where there is no inbuilt price protection mechanism implemented by the exchange.

There are 2 types of SL order delays:

1. SL order placement delay for individual leg SL.

2. SL order placement delay for MTM SL (Combined premium SL).

This setting can be accessed from under the Advanced Settings > Exit order type.


I. SL order placement delay for individual leg SL:

Individual leg SL order placement delay with MARKET orderIndividual leg SL order placement delay with Limit/SL Limit order

First of all, if the Place order after delay option is selected, the stoploss order is not placed in advance. 

If  the Place order after delay option is selected, and say the stoploss is hit at anytime, the position is not squared off immediately, the stoploss condition is again checked after a delay of N seconds, if the SL condition is fulfilled at the Nth second, the stoploss square off order is placed at the Nth second and the position is exited.

If, at the Nth second the price has not crossed the stoploss price ie. stoploss condition is not fulfilled, then again the algo will wait for the price to cross the stoploss price and apply the delay to it again, before checking the stoploss condition again.

Setting 1: Type

Option 1: Place order in advance (default):

This is the default setting, where the algo places the SL orders as soon as an entry is taken in a particular leg. Hence, the stoploss order for squaring off the open position is placed in advance, well before the actual stoploss is hit.

Option 2: Place order after delay:

With this option, the stoploss condition is again checked after a delay of N seconds, if the SL condition is fulfilled at the Nth second, the stoploss square off order is placed at the Nth second.

Setting 2: SL placement delay setting in Seconds:

This setting is configured in terms of number of seconds, after which the algo will re-check the SL condition. If the SL condition is fulfilled after ’N’ seconds as sepcificed by the user, the stoploss square off order will be shot out.


II. SL order placement delay for MTM SL (Combined premium SL)

MTM SL order delay with MARKET orderMTM SL order delay with Limit/SL Limit order

This setting allows to add a delay in placing exit orders in the case where MTM SL is hit. 

In the above example, SL placement delay setting of 3 seconds is configured. In this case, once the MTM SL is hit, the algo will not immediately exit the positions. It will wait for 3 seconds and re-check if the MTM stoploss hit condition is still true, ie. it will check if the MTM SL has hit after those 3 seconds. Only if it is true, then the algo will exit the positions. If not then exit orders will not be fired and the algo will keep running and subsequently keep checking for MTM SL condition, till the next time the MTM SL is hit.

Important points:

  • Stoploss order placement delay works with both order type selections - Market & Limit/SL Limit orders
  • 0 seconds value for delay is allowed. If a setting of 0 seconds is given, it means that when the stoploss is hit, the algo exits the orders immediately without any delay ie. with 0 seconds of delay.
  • If you wish to place stoploss orders only when stoploss is hit, and not in advance, then you configure N seconds setting as '0'.
  • Minimum delay value is 0 seconds and maximum is 60 seconds.