I wanted to understand a bit more about GTT in the wake of recent glitches observed with the platform. I am predominantly a swing/positional trader and do not want to babysit the positions taken. Forever order with DDPI has been a boon for me with this. I typically have a trigger-limit order based on stock liquidity, so there is a short window when the order has to go through.
However,
I would like to understand what happens in case the web/mobile infra goes down? Are GTT orders still triggered as usual and sent to exchanges. Is Forever Order a separate micro-service/component that’s not affected by other services going down?
A very important question along the same lines and something that’s making me reconsider continuing with Dhan given recent glitches. Would Forever Order work during “market panic”?
Along the same lines, what’s the typical lag for Forever Order trigger? I have had a few positions where the delay has been substantial (I was able to navigate after observing price below trigger threshold and execute order myself during lean time for market). Unfortunately, I do not have a good quantitative comparison for the same except Zerodha GTT “felt” faster meaning it triggered quicker.
let me first explain you how forever order works at dhan.
Forever order are designed for swing & positional trader, though anyone can use for intraday trades as well. This order type is available for Delivery/Normal & MTF product types & all segments including Options, Futures, Equity, Commodity & Currency. There are two types of Forever Order - Single Order & OCO (One Cancels Other).
Once you set the Forever Order, we collect it and save in our systems, till the trigger price is reached. Once the trigger price is reached, our system sends the order to the exchange and it goes through same OMS & RMS as the normal order goes. Point to note here, Forever Order setup & collection is different and execution of forever order is same as the normal order.
Now to answer your queries.
Since, Forever order setup & collection is different from rest of the order execution system , it will trigger when the desired trigger price is achieved. But if there is Order execution failure then, as forever orders will also be affected on trigger, same as normal order. After the trigger of Forever order, it works as a normal order.
Computer systems & algorithm doesn’t understand “market panic”. Our system tracks prices, and as & when trigger price is achieved we send the Forever order for execution to the exchange.
We haven’t seen any exceptional delay in execution Forever Order. As I mentioned above, once the forever order is triggered it works as a normal order. A normal order has Dhan Order Id, Exchange Order ID & appears on the market depth. So all in all, Forever order do not have any extra delay or lag in execution.