How do you place market orders for ATM/OTM_1 strikes with low slippage?

APIs, Automation, Algos & Code
1

I’m looking for a reliable way to place market orders for ATM/near-ATM strikes, especially for OTM 1 contracts on both sides. I’m currently using Elgo, but CB has disabled Element Dollars, so I’m trying to find a more reliable setup with less slippage.

Is there a better way to execute these orders, or any code/setup people use for this?

@Hardik @Tradehull_Imran @Mohseen_Usmani

2

@Hardik @Tradehull_Imran @Mohseen_Usmani

Any update on this issue ?

3

Hi @Dpwd ,

For API-based trading, market orders are not supported as direct market executions and are converted to limit orders as per exchange regulations.

To achieve faster execution with minimal slippage, you may consider placing:

  • Buy orders with a limit price slightly above the current LTP.
  • Sell orders with a limit price slightly below the current LTP.

This generally helps in getting executed at the best available market price while maintaining control over execution and slippage.

For more queries, you can connect with us on apihelp@dhan.co