Streamline Your Trading Efficiency with FYERS Quick Trade

Streamlining Trade Execution: FYERS Quick Trade for Instant Order Placement

In the fast-paced world of stock trading, every second counts. Identifying the perfect entry point is just the first step - the true test lies in executing the trade quickly and efficiently. FYERS, the leading Indian brokerage platform, has introduced a game-changing feature to address this need: Quick Trade.

Quick Trade is a powerful tool that enables one-click order placement, allowing you to react instantly to market movements and capitalize on opportunities before they slip away. By pre-configuring your order settings, including Stop Loss, Target, and flexible position sizing, Quick Trade streamlines the entire trading process, helping you stay ahead of the curve. This feature will be most useful for scalpers. I would like to call it "scalper mode in Fyers"

The Challenge: Missing Out on Timely Trades

Imagine a scenario where you've identified a promising stock that's showing a strong breakout signal. You're eager to enter the trade, but the traditional order setup process - selecting the order type, quantity, and setting Stop Loss or Target - requires multiple clicks. By the time you've completed this process, the stock has already moved, and you've missed your ideal entry point.

This is a common frustration faced by many traders, who often find themselves scrambling to place orders while precious seconds tick away. FYERS Quick Trade is designed to solve this problem, empowering you to act on your trading decisions with lightning-fast precision.

Configuring Quick Trade Settings

To set up Quick Trade, follow these steps:

1. Log in to FYERS Web and go to User Settings > Quick Trade.
2. Select the product type - Intraday or Overnight.
3. For Intraday trades, define your Stop Loss and Target levels as a percentage or an absolute INR value.
4. Choose your position sizing options, such as the capital allocation per trade, number of shares/lots, or a percentage of your total funds.

Once these settings are configured, you're ready to unleash the power of Quick Trade.

Capturing Intraday Moves with One-Click Execution

Here's how Quick Trade can help you seize intraday trading opportunities:

1. Activate Quick Trade: Toggle on the Quick Trade button on the toolbar.
2. Pre-Configure Order Settings: Define your Stop Loss, Target, and Position Sizing in the Quick Trade Settings.
3. Place the Trade with One Click: As soon as you spot the opportunity on the chart, place the order instantly.

In this setup, Quick Trade will automatically place the appropriate order type based on your pre-configured settings:

• Normal Intraday Order: If you don't select both Stop Loss and Target, a regular intraday order will be placed.
• Cover Order (CO): If only a Stop Loss is set, Quick Trade will place a CO.
• Bracket Order (BO): If both Stop Loss and Target are enabled, Quick Trade will place a BO.

This streamlined approach not only speeds up order placement but also ensures that your trade has built-in risk management from the start, allowing you to focus on the market, not the mechanics.

Quick Trade for Overnight Trades: Simple Position Sizing

For Overnight trades, Quick Trade simplifies the process even further. Since these trades generally don't require immediate exit levels, Quick Trade focuses solely on position sizing, enabling you to predefine the quantity or amount to be traded without any additional setup. This allows you to concentrate on timing your entry, rather than getting bogged down in order configuration.

Additional Features for Enhanced Flexibility

FYERS Quick Trade offers several additional features to give you greater control over your trades:

1. Placing Limit Orders: You can place Limit orders directly on the chart or through the Depth of Market (DOM), offering you more control over your entry price.
2. Setting SL-L and SL-M: You can place Stop Loss Limit (SL-L) and Stop Loss Market (SL-M) orders directly from the charts, providing you with the flexibility to adjust your order type without revisiting the settings.
3. Modifying Quantity: If you need to adjust the order quantity for a specific trade without altering your predefined settings, you can do so in the DOM under Units. This adjustment will only apply to the current trade, while the default quantity remains unchanged.

Conclusion

Quick Trade is a game-changing feature that addresses a core need in the trading community - the ability to execute orders swiftly and precisely. By enabling one-click trading with pre-configured risk and position settings, Quick Trade empowers you to act instantly on market opportunities, reducing delays and enhancing your trading precision.

Ready to experience the power of rapid, controlled trades at your fingertips? Log in to FYERS Web, enable Quick Trade, and take your trading efficiency to new heights. If you're not with FYERS yet, join us in embracing the future of trading by opening an account today.

Frequently Asked Questions (FAQ)

1. How does Quick Trade differ from regular order placement? 
   Quick Trade treamlines the order placement process by allowing you to pre-configure your order settings, including Stop Loss, Target, and position sizing. This enables you to execute trades with a single click, reducing the time and effort required compared to the traditional multi-step order placement process.

2. Can I use Quick Trade for both Intraday and Overnight trades?
   Yes, Quick Trade is available for both Intraday and Overnight trades. The settings and options available may differ slightly between the two product types, but the core functionality of one-click order placement remains the same.

3. What if I want to modify the order quantity for a specific trade?
   You can adjust the order quantity for a specific trade directly in the Depth of Market (DOM) under the "Units" section. This adjustment will only apply to the current trade, while your predefined position sizing settings will remain the default for subsequent trades.

4. What happens if I refresh the FYERS platform or navigate to another page?
   If you refresh the FYERS platform or navigate to another page, the Quick Trade feature will be disabled. You'll need to reactivate it by toggling the Quick Trade button on the toolbar.