A Smart Step Order helps automate the averaging process by placing incremental buy or sell orders at predefined price intervals. Parameters such as total quantity, quantity per step, price difference, direction, and other advanced settings can be configured based on the trading strategy.
On FYERS App
To place a Smart Step Order on the FYERS App:
Log in to the FYERS App.
Go to Watchlist and select the required symbol.
Under the Overview section, tap Smart Step.
The Smart Step Order window will open.
Configure the required Smart Step parameters:
Total Quantity
Price Direction – Up or Down
Price Interval
Step Quantity
Enable or disable Execute the First Step Immediately, as required.
Expand Advanced to configure additional settings, if required.
Review the order details and tap Place order.
On FYERS Web
To place a Smart Step Order on FYERS Web:
Log in to FYERS Web and open the required stock.
From the Overview section, click Smart Step.
The Smart Step Order window will open.
Configure the required Smart Step parameters, including:
Total Quantity
Step Quantity
Price Direction
Price Difference
Expand Advanced to configure additional settings, if required.
Review the order details and click Start to place the Smart Step Order.
On FYERS Trader
To place a Smart Step Order on FYERS Trader:
Log in to FYERS Trader
Select the required symbol and open the Buy/Sell order window.
Click on Smart.
Select Smart Step Order.
Configure the required Smart Step parameters, including:
Total Quantity
Step Quantity
Step Price Difference
Direction
Expand Advanced to configure additional settings, if required.
Review the details and click Start to initiate the Smart Step Order.
What do the Smart Step Order settings mean?
Total Quantity: The overall quantity intended to be executed through the Smart Step Order.
Step Quantity: The quantity to be placed at each step.
Step Price Difference: The price difference between consecutive steps.
Direction: Determines whether subsequent steps are placed in the Up or Down direction.
Price Range: Defines the High and Low price boundaries within which the Smart Step Order operates.
MPP: Defines the Market Price Protection setting applicable to the order.
What If...
Scenario
Solution
Price moves outside the defined range
Orders are not placed outside the configured High and Low price boundaries.
A step is not executing
Check whether the Step Quantity and Step Price Difference are configured correctly.
The MPP tolerance is breached
The order may not execute when the price moves beyond the configured MPP limit.
The market moves rapidly
Only the steps that meet the configured conditions are executed.