MARKET orders being placed as LIMIT orders via API
Starting today all MARKET orders via API will be converted to LIMIT orders with MPP.
And as usual no body gets notified, u get to know by incurring extra loss
Many issues have happened with me and also the same u just described and i have incurred many losses cuz of that , the support team wont accept it and they keep making changes without notified before a certain period
I talked to Dhan’s support team and they said that starting today, exchange has disabled placing orders at the market price so you will have to use the limit price. The simplest approach could be you take some percentage on top of the current market price and try placing a limit order there. There is a possibility your order will get executed.
Now there is another issue: even after that implementation when you place an order using the limit price and the order is placed, when you try modifying that order from the Dhan UI (for example, you drag your buy limit or sell limit or your take profit or your stop loss), it’s not working. I am attaching the screenshot of the error which I am getting while trying to drag the limit or stop loss. Same goes for buy limit. If your order is not placed in that buy limit and you want to place it through UI, you will have to cancel that existing order which you placed using API, then manually put the quantity, and then you will have to cancel it.
Not able to put Stop loss using API. It shows - {‘status’: ‘failure’, ‘remarks’: {‘error_code’: ‘DH-906’, ‘error_type’: ‘Order_Error’, ‘error_message’: ‘Basic Validation Failed’}, ‘data’: ‘’}
1 Like
@Hardik could you please check above
did you find any solution for this ? it would be great if you can share any workaround @vinay_rana8727
@doks23 Apparently, NSE has blocked market orders placed through APIs. The only available option is to place a limit order. As a workaround, instead of setting the limit price at the current market price, I place it approximately 3% higher so that the order is executed immediately at the best available price. At the moment, that seems to be the only practical solution.
I am not sure what this rule is intended to achieve. To make matters worse, NSE does not allow these orders to be modified through the trading interface. For example, if an order is placed through the API with a take-profit and stop-loss level, those levels cannot be adjusted from the UI. The order must be cancelled and placed again manually through the interface.
It is difficult to understand the rationale behind these restrictions. For algo traders, the ability to place and modify orders programmatically is one of the main reasons for using an API in the first place. Rules like these remove that flexibility and create unnecessary operational difficulties.
Unfortunately, this is what happens when regulations are introduced without adequately considering the practical requirements of market participants. Whether or not the decision has a valid basis, this is the restriction we currently have to work with.