Updated: Iceberg Orders now get even Better Experience on Dhan

Hi @stanly_thomas ,

We just introduced Auto-Slice Orders on APIs. Please do go through it as it might be helpful to you.

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Quick question,

“all sliced and placed Instantly now” which means it’s with different order ids right?

Is there a way we modify any 1 sliced order (modify price), which eventually modifies all the remaining sliced order prices (Limit/SL Trigger & Limit)? Or do we have to go to each sliced order individually and do the price modification?

Yes - all of them are different order ids. When you take a position, you do have option to exit all in single click - so no need to exit legs individually.

Ok!. For exit, it looks good.

But for setting TSL or updating TGT order, it will be helpful if we have 1 click modify available (Modify a single order, modifies all sliced orders).

Not sure if I get this, but I will suggest trying manage position experience on Dhan - it build for all such scenarios. You can set target, or stop loss or trailing stop loss to a position.

Let’s say

BUY Trade entered at Rs 100 - 100 Lot (Exec successfully, & not bothering how many partitions here)

Now Placing SL Sell Order of Rs 80 - 100 Lot ( 10 partitions )

CMP: 180 Rs

Want to Change SL Order to Rs. 150

So here, As it’s of 10 different order’s in the order book, I might need to modify SL Price for 10 partitioned orders individually right?

A quick turnaround thought is, Canceling the pending SL order and Placing new SL order with an updated price will solve here, but I am asking if is there a way to modify 1 partition updates pending partition.

PS: Zerodha has orderTag → so basically from API we are filtering with tag & modifying all prices of similar orders.

Things once can do with APIs is very different from how things are done on apps & interfaces.

Try Manage Positions on Dhan, it should solve for all of this. We let our traders place the SL on the position itself, so if it is not executed - you can go and edit that one position itself. That said I will try this myself tomorrow and check it.

Checked now with Crude Options by placing 100 Lots (10 Partition)

Updated 1 pending Order → modifies only that order, not all the sliced orders.

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Got it, interesting problem to solve. Will see what we can do here.

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Noticed from TV the auto slice is not going through, Any updates on when this will be available on tv?

On TV, auto-slice isnt enabled. The Order Management API structure for TradingView is very different from our platforms. For Auto-slice, suggest continuing with Dhan / Options Trader platforms.

Hi @PravinJ & All,

As Iceberg / Auto Slicing is not available on Tradingview & I built this feature in our chrome extension without intacting the existing trading view order window UX. Feel free to use the chrome extension - Find all other listed features here

Let us know your feedback.

Demo:

Extension:

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@PravinJ By sending all sliced orders at oneshot, aren’t we losing main purpose of slicing? you might have solved “Freeze limit” but so big quantity of order (all slices are summed up on exchange for matching purpose on exchange), eventually this pushes the demand up and price goes up, so your own sliced orders push price up in no time! it will be fatal if it is market iceberg order, right?

I think sending all legs at once is a good idea. Dhan’s current iceberg algo is great. This reduces slippages to a great extent. Keep it same @PravinJ

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Hi @ramb, Users have a choice of Market or Limit orders to decide on price; also have a choice of slicing or not. Demand, supply and execution is at all times is on exchange side.

Plz Update ur Iceberg order in one leg like Zerodha… If I set SL, or take cover order with iceberg ,As a option scalper, it Would Be Difficult to update SL one by one in All Pending orders

Hi @9062663658 Anjana

Welcome to Dhan community. Firstly request you to add a nick name, your mobile number is visible on this forum and is public… Please change same, or our moderation bots / community managers will suspend this profile.

To your question, well we initially had implemented similar version of Iceberg as mentioned by you. Unfortunately, it did not work for our users. In that version, trader essentially placed… say 100 legs and then orders will execute one after another only when the previous leg is executed… and that resulted in trader losing time-priority for order execution (as a result slippage) because orders are queued up one behind other. Based on user feedback we changed Iceberg to the current version where all orders are sliced instantly and sent to exchange for execution without missing on time-priority.

So yes, we tried that option; but our users did no like it so we adapted and built a better one as mentioned in this post. Unfortunately we may not be able to serve some edge cases… but I guess that ok. We have to make some choices.

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@PravinJ - Current iceberg version is the best and is definitely useful. Keep it up!

I agree with PravinJ. Current version is best for me.

@PravinJ - Modifying multiple iceberg orders at once would be very useful