Yes, FYERS has set a limit on the number of orders that can be placed using order slicing, applicable to both initiating new positions and exiting open positions. The limit is set at a maximum of 100 orders, regardless of the freeze quantity for the specific trading instrument.
When you attempt to place an order that necessitates slicing into more than 100 individual orders, it will be rejected. In such cases, you will need to manually place your orders. This limit ensures that order slicing is used effectively without overwhelming the trading system.
For example, if you plan to trade 7,000 lots or 105,000 quantities in Bank Nifty, and the freeze quantity is 900, order slicing can only manage up to 100 orders. This means it can handle 90,000 quantities (or 6,000 lots). Therefore, an order for 7,000 lots will exceed the 100 order limit and will be rejected. The rejection message will state: "Max order limit breached for <Contract details> via order slicing. Place orders manually." In such situations, it is advisable to split your large order into smaller segments, such as 6,000 lots and 1,000 lots, to facilitate seamless execution.
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