Yes, there are a few precautions to keep in mind when using the multi square-off feature:
1. Open orders: Ensure you manually cancel any open/scheduled orders related to positions being squared off, such as stop-loss orders (SL orders), GTT etc. These orders will continue to exist and may create counter positions if executed after the position is exited.
2. Consider impact cost: As the multi square off feature places orders at market price, it is essential to be aware of the impact cost involved. Market orders can potentially result in slippage, leading to a difference between the expected execution price and the actual filled price. Traders should evaluate the impact cost and consider its potential impact on their overall trading strategy and performance.
3. Non-execution possibility: In very rare cases, even after using the multi square-off feature, a position may still remain open. This can occur due to various reasons, such as low liquidity or rejection of the square-off order. In such situations, it is crucial to manually exit the positions to ensure complete closure.
4. Counter positions: It is possible that positions may be squared-off while you are in the process of using the square-off feature. If you proceed with the square-off flow, it may result in the creation of counter positions. To avoid this, always review your positions carefully before initiating the square-off process.