How to place buy orders on Fyers One
To place a buy order in the trading terminal, choose the scrip you want to buy and press F1.
Once you press F1, the buy order window will open up at the bottom of the screen as shown below.
The window is colour coded in blue.
The highlighted section shows you the details of the scrip that you have selected to buy. You could quickly reconfirm this at a glance (In this case its NIFTY futures expiring on 25/02/2016). You could also change the scrips as you want from here. You could change the scrip, the segment from equity to derivatives, futures to options and vice versa.
Then you’ll need to select between limit/market order. Just to give you quick info, if you choose market, your order will be executed at the current market price (CMP).
However, upon choosing limit, you can determine at what price you want to buy by entering it manually. This gives traders and investors the control of the purchase price.
Next, you’ll have to fill the quantity that you want to buy. By default, the quantity will be set at the minimum value (As in this case it shows the minimum quantity for NIFTY futures is 75 = 1 lot). You can modify it by clicking on the arrow buttons or by typing the quantity manually.
Once that’s done, you will need to select Margin/intraday. Let me give you a brief description:
• Margin – It refers to positions that you intend to carry overnight (for tomorrow).
• Intraday – It refers to positions that you intend to close today (sell by end of today).
• CNC – (Not displayed here) stands for Cash N Carry. It refers to the equity segment. So if you want to buy shares of a company for a day or more (overnight), you’ll have to choose this option otherwise the order will get rejected due to mismatch of product type.
If you choose the product type as Intraday, you will get higher leverage to trade for the day depending on the scrip. If in case, you do not sell the scrip by the end of the day, it will get automatically squared off before the closing hours of the market.
Default validity is chosen as Day. What they mean?
• Day – It means your will be valid before the closing hours of the market.
• IOC – Stands for Immediate Or Cancel. It means the order will be cancelled if it does not get filled immediately. It isn’t viable for retail traders.
• Trigger Price – It is applicable only when you’re placing a stop loss order to buy back/close out your short positions.
• Disclosed Quantity – When the buy quantity is large, this feature allows you disclose only what you want to disclose in the order book of the stock exchange. The purpose is to hide your total quantity as a risk management measure.
• Pro/Cli (Proprietary/Client) – Clients will be able to place orders only by selecting “Cli”. It is chosen by default to avoid any inconvenience.
Once you finish filling in all the required details, click on “Submit”.
Lastly, you will receive a system generated re-confirmation. Click on “OK” to send the order to the exchange. You can check the status of the order by clicking on “Trade” in the main menu and choosing “Order Book” or just by pressing the shortcut key F3.
The Order Book window shows you all the details you need to know about the trade.
Here it shows, that 75 quantity (1 lot) of NIFTY futures February was purchased at the market price. It also shows the order numbers, the date and time of execution.
Tejas is the Co-Founder & CEO at FYERS, the youngest team to get NSE’s broker license. He has a specialization in finance and has over 10 years of work experience spanning across proprietary trading, risk management, and broking. Tejas & his team started FYERS, a technology-focused brokerage as a mission to transform the trading/investment landscape in India.