Yes, there are a few precautions to keep in mind when using the multi square-off feature:
- 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.
- 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.
- 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.
- 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.