Super App Update: Order Pad
We are excited to let you know that Angel One is coming up with a revamped Super app with significant improvements in terms of efficiency and user-oriented framework – it has been designed to give users the most advanced and seamless trading experience currently available in the country and beyond.
In this article, we shall focus on the improvements made in the orderpad of the Angel One app whereby placing, tracking and managing various types of orders simultaneously have been made far easier.
“Simplicity is the ultimate sophistication” – Leonardo Da Vinci
Key improvements made
The order journey actually starts right from the watchlist where the trader starts looking for the right assets and instruments to utilise. It continues not just until the profit/loss is booked but even into future orders where the strategies of past orders can be reviewed and reapplied.
The following are the major improvements made in the order journey –
- We have simplified the order journeys without taking away the advanced tools a pro-trader needs. All features are bucketed as per their categories and the charges are transparently shown upfront.
- Users can now not only edit/cancel their orders, they can also access the stock details, markets, charts & option chain right from the point where they choose to review an asset. Even from the Order History these points can be accessed along with the critical option to repeat a particular order. Summary of all orders is also shown in the history.
- The entire trade history is now shown for any position so that the users can check the quantum of trades in it. Exiting and converting a position is now easier than ever thanks to quick sleeves. There are multiple Filters and Sorting Tools for better view.
- Now, the users can place a GTT Order right from the Order Pad with the ease of setting Trigger Price by value or percentage. The GTT Order Book stores all the information about your GTT orders along with the history.
- More flexibility for starting SIPs – Users can create SIPs with Daily/Weekly/Monthly frequency. There’s also an option of creating SIPs based on the amount involved or even the number of shares.
- Smart Orders (e.g. Robo Orders) are available which have been designed for seamless execution. Once the users set a command via these orders, they don’t have to worry about tracking the prices all the time. These orders automatically place orders based on the trigger conditions.
- As the maximum number of lots allowed in an order for NSE Futures & Options Securities is 36, users who want to place huge orders face problems. By introducing Split Orders, we have solved this problem. Now, the users can enter their desired quantity and the order will be broken down into multiple separate orders.
Process of buying assets
Let us also understand what is the new process for buying an asset on the app.
If you choose to buy an asset, click on the “Buy” option – it will take you to the page where you will have two options – Delivery and Intraday.
[However, before you reach this page, you will first receive a quick guide on the options available to you in terms of –
- Delivery – investing and holding by paying the full amount
- Margin – own shares by paying only a fraction of the actual price
- Intraday – trading the asset before the taking/making delivery of the asset]
For delivery, enter the quantity of assets (e.g. shares) you want to buy at the given market price (and also type the actual margin that you wish to pay for the transaction). You can also choose to place a limit order or a market order at this stage.
As mentioned before, you can buy shares on margin i.e. pay only a fraction (say 33%) of the actual cost in order to gain profits from the asset resale. If you want to know about what trading on margin is, click here.
Smart order – By clicking the “Smart order” button, you can also place a GTT order or a Stop Loss order – if you do not know what the terms mean you can easily click on the ‘i’ logo to their right and see the explanation.
You can decide whether the order validity will be in terms of day or IOC. IOC i.e. Immediate or Cancel Order means the order will be executed as soon as it is released into the market, failing which the order will be removed.
Fig. 1 & 2: Order portal at Angel One
For intraday, you can also choose to avail other smart orders such as cover order, Robo order or a stop loss order. If you do not understand the terms then click on the ‘i’ logo to their right and the explanation will appear.
Here too, you can decide whether the order validity will be in terms of day or IOC.
Finally, at the bottom of either page, you can see how much margin is required to place the order and the available margin that you have.
Once you have decided on the order and have the required amount available in your account, click on “Place buy order” to execute the buying process.
On the top right hand corner, you can open a dropdown box in order to change your exchange or switch to a sell order.
On the top left, you will see the current market price of the asset and the daily change in the same.
Process of selling assets
If you click the “Sell” option, here too you will find the two options of delivery and intraday.
Like buy orders, here too you can place GTT and Stop loss for delivery and Cover order, Robo order and Stop Loss order for intraday.
All other features are also very similar such as limit and market order, selling on margin, setting the validity period of orders etc.
Once the order is placed, you can go to the Orders section from which you can track and manage your open orders, positions, GTTs and Stock SIPs.
It is our mission to build a sophisticated, user-friendly system that not only makes trading efficient but also an easy, enjoyable and refined experience. If the above innovations excite you, open demat account with Angel One today and start a new investment journey!