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.
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.
Steps to Activate Order Slicing on FYERS:
- Platform Access: Initiate by logging into the FYERS platform.
- Instrument Selection: Opt for the trading instrument of your choice and specify the quantity you intend to buy or sell.
- 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.
- 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'.
- Monitor Sliced Orders: To keep tabs on your segmented orders, navigate to the 'Order Book' section.
For a more detailed perspective, we recommend referring to the attached image below.
Related Articles
How to enable real-time order notifications in Fyers Web?
Real-time order notifications help you track the real-time orders placed and executed from time to time. By default, the notifications are disabled, however, you can re-enable the same by following the steps below: Login to Fyers Web and Go to User ...Is there any limit to the number of orders placed via order slicing at FYERS?
Yes, FYERS has set a limit on the number of orders that can be placed using order slicing, applicable to both initiating new positions and exiting open positions. The limit is set at a maximum of 100 orders, regardless of the freeze quantity for the ...Why did my CO/BO order get executed at different price points?
Cover Order (CO) and Bracket Order (BO) are types of multi-legged orders that come with pre-defined stop-loss and/or target levels, alongside the main entry order. The execution of these orders is dependent on the available Bid/Ask in the market for ...What is a limit order?
A limit order is a type of order to either buy or to sell a security at a specified price. The order will either get executed at the limit price mentioned by you at the time of order placement or would not get executed at all. If the price does not ...What is disclosed order quantity?
In normal orders, the entire order quantity is disclosed to the market. But order with a disclosed quantity allows the investor to disclose only a part of the order to the market. For example, Mr. X wants to buy 100000 shares of a stock at the ...