I have been trading in Bank Nifty Options Weekly expiry since last one year or so. I am an Option Seller and always trade in pairs (multiple legs). I have couple of wishlists which if automated would do wonders in trading.
Wishlist is as follows -
Wishlist 1 - Since my trades are in pairs and I have defined exits in the system, there should be a trigger where in if one position is exited either due to Stop loss or Target then all the other positions belonging to the same pair should be exited at market price automatically and all open orders should be cancelled.
Wishlist 2 - I should be allowed to define exits on the pairs as a whole (meaning that stop-loss and target should be allowed to be defined on the pair and both the orders should be allowed to be placed in the system and one order triggered should automatically cancel the other order)
Do let me know if this is already in the works or in case there is any detailed clarification or note required on the above.
My today’s pair trade
Bought 200 QTY of BANKNIFTY 3rd w NOV 41200 CE @ 560
Sold 375 QTY of BANKNIFTY OCT 41500 CE @ 146
Placed a buy order of 375 QTY of BANKNIFTY OCT 41500 CE @ 121
This got triggered @ 12.40pm.
Manually exited by selling 200 QTY of BANKNIFTY 3rd w NOV 41200 CE @ market price
This manual exit can be automated if I am allowed to define these two trades as pair and triggering of exit order of one should forcefully exit the other trade.
