How to place Simple order in Mobile application:-
Follow the below steps to place an order:
Click on the scrip you want to place an order from the watchlist
Click on Buy or Sell to place an order
You will get an order entry screen
Click on “Review” and click on “Buy or Sell”
How to fill Order entry
Mention quantity you want to order
Select Order Complexity as “SIMPLE”
There are four types of Order Type “Market, Limit, SL Limit, SL Market”
Market - A market order is a buy or sell order to be executed immediately at the current market prices. As long as there are willing sellers and buyers, market orders are filled. Market orders are used when certainty of execution is a priority over the price of execution. A market order is the simplest of the order types.
Limit - A limit order is when you wish to purchase or sell a scrip at a certain price. When you place a limit order it will be executed only when the scrip reaches that price. IF you have selected a Limit Price at Buy Order entry then you have to give below the market price. And if you have selected a Limit Price at Sell Order entry then you have to give above the market price.
SL Limit - As mentioned above, a stop-loss limit order will be executed at the price that you want the order to be executed at. The stop-loss is a mere trigger to validate the order. In this kind of stop-loss order, both the trigger and the limit price are to be given by the trader. In case of a buy stop-loss limit order the Trigger Price < Limit Price and in case of a sell stop-loss limit order the Trigger Price > Limit Price.
SL Market - The stop-loss market order is when your stop-loss is triggered and the order will be placed at whatever price is prevalent in the market. In this kind of stop-loss order, only the trigger price is to be mentioned. Once the trigger price is hit, the order becomes a market order and is sent to the exchange.
Product: There are two tips of product “Intraday and Delivery”
Intraday Trade: Intraday trading is the method where buying and selling (or vice versa) of shares and stocks takes place on the same day. It is also called ‘Day trading’ by many traders.
Let us try and understand how it works with an example.
Assume that you buy 100 stocks of the company Tesla Motors during open market hours. On an intraday trade, you’ll need to sell these Tesla Motors stocks before auto square off timing. Similarly, if you had shorted (or sold before buying) the stocks, you would have to buy the same number of these stocks before auto square off timing.
Delivery Trade: Delivery trading is actually getting the shares transferred to your demat account. It does not matter how quickly you sell the stock back; there is no time limit for selling stocks. As long as you get the stocks delivered to your demat account, it is considered to be a delivery trade.
Another key feature of delivery trading is that you cannot buy without having all the money ready or sell if you don’t hold the shares. So, when you conduct a trade, you essentially freeze the funds or shares while placing the order.
For example, suppose you place an order worth Rs 10,000, the amount of funds allocated for stock-buying (cash limit) should be at least Rs 10,000 or more. Only then can you purchase the stocks. Similarly, if you want to sell shares, the same should be available in your demat account.
Validity: There are two types of validity IOC and Day
IOC in Upstox stands for an Immediate or Cancel (IOC) order. Such orders are either executed immediately or fail which are canceled. A partial match of the order, if available can be executed with the remaining order getting canceled.
For example, if you place an IOC order for 100 shares and only a price match for 40 shares is available then the order for 40 shares will be placed while the rest 60 shares will be canceled.
Day order is valid till date and the order will be executed anytime the price match is available.
For example, if you place a Day order for 100 shares and only a price match for 40 shares are available then the order for 40 shares will be placed while the rest 60 shares will be on open and if the same rate comes in the market again your order will be placed.