What is order slicing and how to enable the feature?

What is order slicing and how to enable the feature?

Order slicing is an advanced feature tailored for traders aiming to execute large orders. It ensures seamless trading without majorly influencing the market price or necessitating multiple manual order placements. By intelligently dividing your orders based on the freeze quantity of the chosen instrument, it enhances execution speed and efficiency. Order slicing is subject to a maximum limit of 10 sliced orders

Illustrative Scenario: If your trading strategy involves purchasing 1500 units of Nifty Bank Futures with a defined freeze quantity of 900, order slicing will adeptly segment your order into two distinct parts: the first being 900 units and the second, 600 units. This systematic division expedites the order's execution while minimising potential impact costs. If the total quantity requires more than 10 such slices, the order will be rejected and must be placed manually.

Steps to Activate Order Slicing on FYERS:

1. Platform Access: Initiate by logging into the FYERS platform.

2. Instrument Selection: Opt for the trading instrument of your choice and specify the quantity you intend to buy or sell.

3. Automated Slicing: There's no need to manually activate order slicing. For any order surpassing the freeze quantity of the instrument, the feature auto-activates.

4. Order Confirmation: An alert will emerge, stating, "Order Slicing: Only XX qty is permissible per order; hence, X Buy/Sell orders will be processed." Post verifying your order's particulars, select 'Buy/Sell'.

5. Monitor Sliced Orders: To keep tabs on your segmented orders, navigate to the 'Order Book' section.

For a more detailed perspective, please refer to the attached image below.