Most of the people are doing intraday trading, because of its popularity and high returns. But are you in Profitable? Today am here with a new trick to place a smart Automated advanced stoploss and Targets which is useful for intraday traders. So, let's jump in to the point.
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| Automated Smart Stoploss and Targets on Intraday Trading |
Hope you all are used to our telegram channel which gives daily breakout levels and the accuracy of it. This feature will give much more accurate orders and timely placements of quick orders in volatile markets. For this we are choosing a new feature introduced by Fyers Trading platform.
Also Read:- Is it Good to start Trading in India for Students?
How to start a Free trading account on Fyers?
First of all Create a free Demat trading account on Fyers. If you join using our link, you will get a lifetime free premium support from us. After completing the registration process check our official Telegram channel to claim your Premium Membership.
After activating all the Segments and add funds, we will move in to Smart orders from Fyers. There are mainly 3 types of orders which will be explained below.
Types of smart orders for Smart Intraday Traders
As mentioned above we have 3 types of Orders they are
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| 3 types of smart Orders |
- Smart Limit Order
- Smart Step Order
- Smart Step Order
Let's look deep in to each one separately .
Smart Limit order in Fyers
It's a advanced modified type of a Limit order which allows traders or investors to modify the expiry time of the order, detailed range of execution etc. There is also a Market protection price which will avoid the risk of Spikes in volatile market.
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| Smart Limit order in Fyers |
In this type of order, you can decide if you want to cancel the order or excute at the current market price at expiry time. Here you can see a example of Ashokley stock with 100 quantity.
Smart Step Order in Fyers
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| Smart Step Order in Fyers |
This is the second type of order which will help intraday traders to average their position on regular intervals. With this type of order you can decide at what price, how much quality, and at what interval you need to average your position in both up or down direction. This will help traders to get the best price for their open positions and get maximum profits. So, this automated Features will definitely help the traders to reduce risk and maximize profits.
Smart Trail Order
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| Smart Trail Order |
This is the third and final type of order. This is similar to trailing stoploss but little bit advanced form. There is a option to set a Jump price and if price move in to your favor, you can book profits . This will be useful for expiry day trading where u can see lots of large spikes. At this time with this smart trail order, definitely you can earn maximum profits in Intraday Trading.
Malayalam Explanation of Smart Orders by Fyers
Here is a YouTube video which explain these Smart orders by Fyers in Simple language and any one interested can watch this video to understand easily.
Conclusion
So, we have seen a new feature for Intraday traders to reduce the risk and Maximize the profits for Intraday traders using Smart Order by fyers. We have explained all 3 types of smart order and how its usefull for intraday traders on expiry day trading or other intraday trading. That's all for today, more Tips and tricks for Trading will be posted soon.