In this article, we will discuss:
- But First, Let’s Understand the Fundamentals of Basket Orders
- However, Traders Face These Common Challenges with Basket Orders
- Here’s How Samco’s Smart Basket Order Overcomes These Challenges
- Additional Benefits of Basket Orders for Traders
- Ready to Level Up Your Trading With Samco’s Smart Basket Order?
The stock market is a dynamic industry. It constantly pushes us as traders to enhance our strategies and maintain a competitive edge. And one such way we achieve this is by making execution of transactions efficient. Of late, using basket orders has gained popularity as a highly effective way to handle large orders seamlessly. Many seasoned traders often leverage this type of order due to its speed, and ability to minimize slippages.
There are a variety of platforms in the market offering basket order facilities with different features. But Samco Securities offers one of the smartest basket orders out there. Does that give off a bragging vibe? Bet it’s not! Let us delve deeper into learning what makes Samco’s basket order smart and how you can leverage this feature to improve your trading in no time.
But First, Let’s Understand the Fundamentals of Basket Orders
Basket orders are designed to boost the traders' efficiency in the execution of trades. It allows you to place multiple buy and sell orders at a time. You can buy and sell futures contracts, options contracts, and stocks in the same order.
In addition to that, a smart basket order also displays the Max Margin and Final Margin requirements after taking into account the margin benefits. By using basket orders, you can check how much margin will be blocked in your account if you execute the entire basket in one go.
Also, with the "Include Existing Positions" checkbox, you can ascertain how much margin will be blocked after considering the margins utilized by your existing positions.
However, Traders Face These Common Challenges with Basket Orders
While we love everything about basket orders to be perfect, the reality is that they come with their downsides. Two common challenges frequently faced by traders while using conventional basket orders include -
- Rearranging the order sequence manually: Many traders strive to manually arrange the orders added to the basket to check for the optimal sequence that leads to minimum blockage of margin. It is a time-consuming process, and as a result, many traders miss desired entry points.
- Dealing with rejections and repeated attempts: Even if the trader achieves optimal sequence, many orders still get rejected despite having sufficient margin. It’s because all the orders are sent to the exchange at the same time, but executed randomly. It leads to multiple attempts until all the orders in the basket execute.
We feel the traders' pain and thus introduced Smart Basket Orders with solutions to these common challenges.
Here’s How Samco’s Smart Basket Order Overcomes These Challenges
To overcome these challenges, Samco offers two unique solutions:
Samco’s new feature - ‘Execute One by One’ - sends all the orders to the exchange, maintaining the sequence you set from top to bottom. It ensures that the orders are executed in the most margin-efficient manner, avoiding unnecessary rejections.
Smart Margin Optimisation
Samco’s smart basket order automatically rearranges all the orders in the sequence that offers the best margin optimization. It gives you the confidence to focus only on adding the correct contracts to your basket without worrying about the sequence or margin optimization.
Additional Benefits of Basket Orders for Traders
The uniqueness of Samco’s new basket order feature offers a distinctive edge that goes beyond the above-mentioned solutions. As a trader, you also enjoy other benefits of using basket orders with Samco. Let’s look at them.
Samco displays both, the Max Margin, required to place all the orders in the basket, and the Final Margin, which is blocked in your Samco account after the order execution. It empowers you to confirm your basket order based on the availability of funds in your account.
Total Estimated Cost
Before confirming the basket order, Samco offers you a comprehensive estimate of all the charges applicable to execute your trades. Knowing this insight about the total estimated cost puts you in a better position to make an informed choice.
Samco’s basket order can execute up to 50 orders in a single click. Now imagine the time required to place all the orders manually! Thus, by using the basket order, you can save time and minimize your chances of human error.
When the markets are highly volatile, and you place orders at market rate, they get executed at a slightly higher or lower price than the intended price, resulting in slippage. Basket orders minimize these slippages by executing multiple orders simultaneously at the market rate.
Ready to Level Up Your Trading With Samco’s Smart Basket Order ?
Samco’s smart basket order emerges as a valuable tool that allows traders to place multiple orders simultaneously. The ability to intelligently optimize order sequences and execute them with minimal margin is what sets Samco apart from the competition. Additionally, with the one-click basket execution process, you can save time, mitigate the risk of high slippage, and efficiently capitalize on market trends.
If you have a Samco account, you can simply visit the website or app and go to the "Orders" section to use basket orders. Indulge in a new and smarter way to place your trades and elevate your trading experience with Samco. Try Now!
Disclaimer: INVESTMENT IN SECURITIES MARKET ARE SUBJECT TO MARKET RISKS, READ ALL THE RELATED DOCUMENTS CAREFULLY BEFORE INVESTING. The asset classes and securities quoted in the film are exemplary and are not recommendatory. SAMCO Securities Limited (Formerly known as Samruddhi Stock Brokers Limited): BSE: 935 | NSE: 12135 | MSEI- 31600 | SEBI Reg. No.: INZ000002535 | AMFI Reg. No. 120121 | Depository Participant: CDSL: IN-DP-CDSL-443-2008 CIN No.: U67120MH2004PLC146183 | SAMCO Commodities Limited (Formerly known as Samruddhi Tradecom India Limited) | MCX- 55190 | SEBI Reg. No.: INZ000013932 Registered Address: Samco Securities Limited, 1004 - A, 10th Floor, Naman Midtown - A Wing, Senapati Bapat Marg, Prabhadevi, Mumbai - 400 013, Maharashtra, India. For any complaints Email - firstname.lastname@example.org Research Analysts -SEBI Reg.No.-INHO0O0005847