Hello Traders,
Risk Management is one of the most important aspects of a Trader’s life and we understand this well. As we build Dhan for you, we have also built the most comprehensive risk management features and tools for you with Trader’s Controls on Dhan.
One of the most important features that we introduced under Trader’s Controls was Kill Switch with the aim to help traders stay disciplined while trading. Not just this, all of Trader’s Control options are today widely used by traders on Dhan to manage their risk and trade with their own rules.
And as we have seen this feature being used heavily by super traders, we are now extending this even on our APIs for traders building their trading systems on top of DhanHQ Trading APIs.
We have already introduced a range of unique API offerings as part of DhanHQ to give our traders an edge with Slice Order API, eDIS flow API and even Statement APIs.
Introducing Kill Switch API on DhanHQ
We know system traders or algo traders usually have their own risk calculations running and monitoring their risk reward in an automated manner. But we wanted to introduce a switch that they can enable and control their trading, when their risk metrics go upwards and they want to stay disciplined.
API Documentation for Kill Switch: Trader's Control - DhanHQ Ver 1.0 / API Document
As with Kill Switch on Dhan, do note, to activate Kill Switch, you will have to close all your existing positions and cancel orders. You will not be able to place any orders once Kill Switch is activated.
Moreover, you can also deactivate Kill Switch, but only once a day. Kill Switch will be automatically reset at midnight.
Do let us know your feedback on this, and if we should introduce other Trader’s Control features on DhanHQ Trading APIs as well.
– Hardik
Product