Hi @Dhan@PravinJ, Currently on dhan platform, we can enter number of lots in the f&o order window.
Can you provide an option to enter quantity as well like we have it in Zerodha & kotak Neo (the screenshots are attached) so that we can use lots of quantity as per our convenience, to avoid any calculations involved?
For example, if I want to buy 400 quantity of Nifty 22900 CE, incase of lots I need to manually calculate number of lots first and then enter the lot number in order window which is little time consuming.
Similarly, when quantity option is selected by user and if incase he enters quantity incorrectly like for Nifty, instead of 225 he enters 200, kindly show the nearest proper quantity on the lower and upper sides ( 150&225) as a small nudge.
Since this is a small and useful one, kindly do not take much time to implement it after checking with your product team.
Hi @sri1647 The current experience on Dhan is lot based, and does not require user to keep in mind the calculations for quantities for any underlying index or stock.
In our opinion, this is the best experience and we have no plans to change this. For simplicity, we do show the quantity in lot size displayed next to the same in the order window.
It looks like you haven’t understood the traders problem here. Kindly read the example illustrated in point.1. if this is the best experience, then major brokers won’t provide other choice sir. There is no fault in providing multiple options as well.
I agree that you are showing the quantity next to number of lots but the quantity will be visible only after I enter number of lots. So if u want place order on the basis of quantity, in the current dhan window, a manual calculation of converting quantity to lots is definitely involved.
Moreover, the problem arises mainly for large traders. Suppose if I want to trade 900 quantity, then I need to remember the number of lots for each instrument like 45 lots for sensex, 12 lots for Nifty etc., and moreover nowadays the lot sizes are changing atleast twice an year. So, it is hard to trade based on lots. Think once.
We provide features looking at the data and insights that we have. If all platforms had same features, then there isnt a need to more than one borking platform in the industry.
It’s not about major brokers. Today almost everyone is shipping features that Dhan has shipped. We prefer to align with our users, data and insights driven from customers. Yes, there will be few for whom we may deliver a 95% experience over 100%.
I didn’t expect this kind of reply when a problem statement is given sir. Rather than addressing the problem, if you reply in this way, there is no use of asking feedback from clients. I had explained the problem in detail with two examples but you were unable to explain how dhan handles the same.
It’s great to know that you are leading the industry in terms of features but it doesn’t mean dhan has every feature what other platforms have. Some features might be good in other platforms and that is the reason we are sharing the feedback with dhan and requesting to consider the same.
@Dhan@PravinJ one live scenario which I faced on Friday because of lots option. Generally my initial quantity to trade sensex options is 100 which is 5 lots. But in a hurry, I recalled the old lot size which is 10 and placed order for 10 lots, which is 200 quantity, means double the risk taking capacity. Nowadays, the lot sizes are changing rapidly. So, if quantity option is also provided for fno, such mishaps may not occur, I feel so. I know that you show quantity on top of the lot field but when in a rush, these small things become invisible.
My lifetime loss due to this is pretty big. Lost 20k just today…
I juggle across 3 brokers and multiple accounts. And sometimes the Dhan quirk is missed.
@PravinJ Please consider giving the option of having qty as the default, for those who are suffering significant monetary losses due to this. I am not shifting all responsibility, but please understand why I ask.
Kotak Neo has the feature.. Mind you they are very deficient across other areas compared to Dhan.. but even they have understood that something that costs serious losses to traders must be plugged, even if such unfortunate traders are not in the majority.
To add to what I stated above - you guys enforce order placement in lots and show position in qty… thats just invitation for very active busy traders to mess up, especially those who trade across brokers…
Its the equivalent of ‘fat-finger-magnet’. Even 1 messup per month can cost too much… Please give us the option to choose order placement in ‘qty’
I remember even @Castelinojason had this issue.. he ended up placing order with thousands of lots (instead of qty) . Dont know if he is still doing high frequency of orders on Dhan or only low frequency strategy now. Honestly I also stopped my higher frequency strategy on Dhan (and only ran low freq), but started placing more orders recently and… memory refreshed
Anyone dealing with multiple brokers/accounts and 50+ orders (across different tabs/brokers) every day could be at risk here imho…
Hi @VijayNair@t7support The current experience on Dhan clearly states that it is Lots and also shows the corresponding quantity. As mentioned, if all platforms have the same features - then there isn’t a need for more than one broking platform.
Yes we can debate on this endlessly, and mention we do not care about traders, or their requirements. However, that’s not the case. We have brought a lot of innovations + changes to core feature requests.. some of them have taken months.. @t7support knows and he has been consistent with his asks and patience too. Same brokers you have mentioned, we have tracked them as well. They introduces lots much later, we were one of the first to start with it, if not the first one.
We started with Lots only, and over period added the corresponding quantities in front of it. Our front-end systems are deeply integrated with the underlying trading engines. Moreover, today we have over 5 Lac traders every month using this feature seamlessly.
@PravinJ I have lost lakhs because of this and I personally know atleast another who has lost placing 1000s of lots inadvertently. In a high pressure environment when orders are placed in a hurry, and I have 3 brokers and 5 accounts across different tabs - the frenetic tab switching is real. it is easy to miss the odd sheep in the mix (especially when the positions are in qty like the others but the order window isnt).
I only asked you to give traders an option to have order window take in as ‘qty’ for those who absolutely need it. Not to change Dhan default experience. Is it a lot of work in these times?
I wouldnt ask any bling feature, but this is about RISK.
I’ll see if I can ignore dhan interface for orders and place all via api… In any case I will only use Dhan for low frequency (again)… Dont know why I keep coming back to try more orders.
Besides the loss is real, pain is real. Multiple brokers have this feature because it is important.
I believe Dhan builds based on customer feedback. I have told my clients the same thing. This is not a fancy feature we are asking for. Just an essential feature.
This is just a frontend change. Frontend can convert and send data in whatever format the backend wants. In this AI world would that be a difficult change ?
Most customers don’t complain. It takes time to post, record and share screenshots + videos, attend calls and meetings, follow up etc. Most customers wouldn’t go through the hassle. They quietly route their order flow else where. Also trader population is fluid. Only those last who make profit consistently and from SEBI report we know how small that % is. Unless we hold on to those active traders it becomes difficult to sustain the business.
Option (not asking to change default behaviour for all) to have order window only take in ‘qty’ is akin to gun safety for busy traders who trade multiple brokers every single hour.
