Other Orders
The following are the Other Order Types available in the FLIP App.
Last updated
The following are the Other Order Types available in the FLIP App.
Last updated
Geojit Financial Services
"Bracket Orders" are a type of Intraday Order that allows traders to set a Stop-Loss Order and a Target Order simultaneously when entering a Position. It is designed to “Bracket” your Initial Order. Hence, there will be two (opposite side) orders placed with the initial order. The Stop-Loss Order is designed to limit potential losses in the event that the market moves against your Position, while the Target Order represents your profit-taking level.
Using a Bracket Order, you can set both the Stop-Loss and Target Price levels in advance, which helps manage risks and potentially increase the chances of success of trades. Since Bracket Orders are an Intraday Product, they are auto squared-off at the end of the day and cannot be carried forward.
To place a BO Order, follow these steps:
Open the Order Placement Page for the security you wish to buy or sell.
Choose/enter the "Exchange", "Order Type", "Quantity" and "Entry Price".
Enable the "Bracket Order (BO) Toggle" .
Enter your "Target Price" and "Stop-loss Price". Ensure that they are within the Daily Price Range.
Select the Time Condition as "Day".
Click the "Review Order" Button to re-check your order details.
After confirmation, click the "Place Order" Button. Your order will be sent to the exchange.
Please Note: Bracket Orders are Day orders and cannot be placed as GTD (Good Till Date) orders. Optional- Enable the Trailing Stop-loss option to automatically modify the stop-loss based on favorable price movements.
Go to the "Open Order Book".
Find the group of Three Open Bracket Order Legs.
Click on any of the legs to open the Order Summary.
Click the "Modify" Button at the bottom of the screen.
Make the desired changes to any or all of the legs of the Bracket Order in the initial order page.
Click the "Review Order" Button and then "Place order".
You will receive a confirmation of your Modified Order.
The modification is complete once you receive the Confirmation.
You can also go to the "Order Log", which is part of the Order Summary Page, to confirm the modification.
Go to the "Open Order Book".
Find the group of Two Open take Profit or Stop-loss Orders.
Click on any of the legs to open the Order Summary.
Click the "Modify" Button at the bottom of the screen.
Make the desired changes to either both or one of the take Profit or Stop-loss Orders in the initial order page.
Click the "Review Order" Button and then "Place order".
You will receive a confirmation of your Modified Order.
The modification is complete once you receive the Confirmation
You can also go to the "Order Log", which is part of the Order Summary Page, to confirm the modification.
A "Bracket Order" can only be Canceled before the Initial Order of the Bracket Order is executed. Once the initial order is executed, there is no option to cancel the Take Profit and Stop-loss Orders. However, the trader will have the option to modify these orders. If the trader closes the Open Position of the executed leg, the take Profit and Stop-loss orders will automatically be "Canceled".
To Cancel a Bracket Order, Follow these steps:
Go to the "Open Order Book".
Locate the group of Three Bracket Order Legs that you want to Cancel.
Click on any of the legs to open the Order Summary.
Click the "Cancel Order" Button at the bottom of the screen
Confirm that you want to "Cancel" all legs of the Bracket Order in the Confirmation page.
The entire Bracket Order will be canceled and you can view the Canceled Order in the closed order section with a status of "Canceled".
Please Note: It's important to note that you can only Cancel all legs of the Bracket Order or Modify the order, you cannot cancel individual legs.
If you have an executed "Bracket Order" and want to cancel the Take Profit and Stop-loss Orders, the only option is to Square Off the Open Position. To do this, follow these steps:
Go to the "Position" page from the "Portfolio" tab.
Click on the security you want to Square Off to open the Position Summary.
Click on the "Square Off" Button.
Confirm the Square Off.
Once you Confirm the Order, one leg of the Bracket Order will be modified to a Market Order and will be executed immediately, while the other leg will be Canceled.
You can view the status of both orders in the "Closed Order Book."
Please Note: All Square Off orders will be Market Orders.
Bracket Orders have an optional "Trailing stop-loss" feature wherein the Stop-loss Order Price is automatically modified based on favorable price movements for the Position taken. Unfavorable price movements on the other hand, will not result in the stop-loss order price being modified.
A "Trailing Stop-loss" is a dynamic stop-loss that adjusts as the price of a security moves in favor of the Open Position. It is often used in conjunction with a Bracket Order, which includes a Target Profit Price and a Stop-loss Price. As the price of the security moves in favor of the trader, the Stop-loss Price is adjusted by the default trail of 1 INR. If the price of the security reaches the Target Price, the trade is closed at a Profit and the Stop-loss Order is Canceled. If the price of the security falls below the Trailing Stop-loss Price, the trade is closed to limit losses.
Here is an example of how the "Trailing Stop-loss" feature works:
A trader places a buy bracket order for XYZ stock with a Trailing Stop-loss of 1 INR. This includes as Initial Order at 100 INR, a Target Order at 110 INR and a Stop-loss Order at 90 INR.
After the main order is executed, the price of XYZ security rises to 101 INR. Since the Trailing Stop-loss feature is enabled, the Stop-loss Price is adjusted to 91 INR (original Stop-loss Price +Trailing Amount). The price or XYZ security continues to rise and reached 103 INR. Hence, the Stop-loss Price is adjusted again to 93 INR. When the Market Price reaches 110 INR, the trade is closed at a profit. On the other hand, the price of XYZ security had fallen below the latest Stop-loss Price, the trade would have been closed to limit further losses.
How can I activate the BO facility?
What happens if my Main Order/ Initial Order gets partially executed in the case of BO?
"After Market Orders" (AMO) are used to place Orders post-market hours, to trade on the next trading day. The order placement time varies segment-wise.
| SEGMENT | TIMING |
|---|---|
Equity Cash (NSE & BSE) | 4:15 pm to 8:45 am |
Equity F&O | 4:15 pm to 8:45 am |
NSE MF | 4:15 pm to 8:45 am |
Currency (NSE) | 5:15 pm to 8:45 am |
To place AMO Order, follow these steps:
Open the Order Placement Page for the security you wish to buy or sell.
Choose/enter the "Exchange", "Order Type", "Quantity, Price", "Product Type" and "Time Condition".
Click the "Review Order" Button to re-check your order details
After confirmation, click the "Place Order" Button. Your order will be sent to the exchange.
Please Note: It is advisable to place AMOs as a limit order closer to the previous day's closing price, instead of as a Market Order.
On which Exchanges can I place AMO orders?
What do I need to be cautious about while placing an AMO order?
A "One Cancel Other (OCO) Order" is a combination of two separate orders: a Limit Order and a Stop-loss Order. It allows you to set both a Target Price and Stop-loss Price for a trade. If either of the two orders is executed, the other order is automatically canceled. OCO Orders are commonly used to manage risk and can be placed against Open Positions and Holdings.
To place an OCO Order, follow these steps:
Go to the Holdings or Positions section in your Portfolio.
Select the desired Security.
Click the "OCO Order" Button.
You will be redirected to the Order Placement Page with details of your "Holding Quantity", "Average Price" and the "Last Traded Price".
The "Quantity" field is auto-filled based on your Holdings. Orders can be place for Quantities less than or equal to your existing Holding Quantity.
Select the "Order Type- Market / Limit":
"Market"- You will have to specify a Trigger Price for both legs of the OCO Order. The orders are saved with Geojit and monitored until either of the trigger prices are hit. When the market reaches one of the set trigger prices, the saved order is sent to the exchange as a Market Order and the other leg is Canceled.
"Limit" - You will have to specify a Trigger Price for both legs of the OCO Order. The Trigger Prices will be taken as the Limit Price for each leg. The Orders are saved with Geojit and monitored until either of the Trigger Prices are hit. When the Market reaches one of the set trigger prices, the saved order is sent to the exchange as a Limit Order at the specified price, and the other leg is Canceled.
Select the Time Condition as "Day / GTD":
"Day" - The Prices will have to be within the Daily Price Range.
"GTD" - The Prices can be outside the Daily Price Range.
Click the "Review Order" Button to re-check your order details.
After confirmation, click the "Place Order" Button. Your order will be sent to the exchange.
Please Note: OCO Orders can be viewed in your Open Order Book under the Saved status. If it is placed as a GTD order, it can be viewed in both the Open and AMO/GTD Order Book. The Trigger Price set for GTD orders is valid only once. In the case an OCO GTD Order is triggered and sent to the exchange, but does not get executed, you will have to place the order again.
"OCO Orders" are orders that are saved and monitored at the Geojit server and are only sent to the exchange when the Price Condition is met. These orders will always be in a saved status and can be viewed and canceled from the Open and AMO/GTD Order Book.
To Cancel an OCO Orders, follow these steps:
Open the Open Order Book or the Open and AMO/GTD Order Book.
Locate the OCO Group Order that you want to Cancel.
Click on any of the legs to open the Order Summary.
Click the "Cancel Order" Button at the bottom of the screen.
Confirm that you want to cancel both legs of the OCO Order in the Confirmation pop-up Page.
Both legs of the OCO Order will be deleted and you can view the Deleted OCO Order in the Closed & AMO/GTD Order section with a status of "DELETED."
To Modify an OCO Order, follow these steps:
Open the Open Order Book or the Open and AMO/GTD Order Book.
Locate the OCO Group Order that you want to Modify.
Click on any of the legs to open the Order Summary.
Click the "Modify" Button at the bottom of the screen to open the "Modify OCO Order" page.
Make changes to either one or both legs of the OCO order.
Click the "Review" Button at the bottom of the page to open a Confirmation page.
Click the "Place Order" Button to save the changes and modify the Order.
Please Note: The changes made to the OCO Order will be updated in both the Open and AMO/GTD Order Book. It is important to check the Order Book to ensure that the modification has been successful.
How can I activate OCO order?
Split Order is a tool for traders who deal with large lot sizes. F&O Order has a limit for the number of lots per order. The split order feature helps you enter the lots above this limit wherein the orders are split as per the given limit for the contract concerned and sent to the exchange. This saves time and reduces errors compared to manually entering multiple trades.
For Example : The limit for a contract is 30 lots. When a user places an order for 100 lots, the order is split into 4 orders of- 30, 30, 30 and 10 and sent to the exchange.
To place Split Order for Single Leg Order, follow these steps:
Login to Flip Mobile App.
In the "Settings" page locate and select "Default Order Settings".
Now click on the "Futures" tab to activate the "Split Order for Futures".
Within the "Futures" tab, enable the "Advanced Preset" toggle to access "Advanced Settings" Option.
Repeat the same for the "Options" by going to the Options tab for activating Split Order feature for Options Contract.
Confirm and Save the "Settings" before you return to the "Watchlist".
Please Note : The Split Order is not enabled by default, as this feature may not be utilized by all traders.
Click "Buy" to proceed with placing the Order.
Once you are on the Order Window, choose the "Order Type".
Next enter the "Quantity". For example enter 100 quantities.
Leave the "Product Type" and "Time Condition" as it is.
Now, click the "Review Order" Button at the bottom of the page.
You will be redirected to the Order Confirmation window, where you can see all the Order details including the Order Split.
Here, you can see that Order one and two are for 36 lots each and Order three is for 28 lots, making the total of 100 lots.
Once the "Place Order" Button is active, click on it to send the order to the exchange.
Along with the "Place Order" Button, you can find "Edit" Button. Click on it if you wish to make any changes in the Order.
Please Note: Due to liquidity issues, currently, Split Order is only available for Nifty and Bank Nifty contracts.
To place Split Order for Multi-Leg Order, follow these steps:
Here, let's see how to place 100-lot Ironfly Order
You will be redirected to the "Security Page".
Locate and Click the "Option Chain" Button on the top of the page and select the desired "Expiry".
Once the Option Chain opens, click the "Bid Price" for both the "Call" and "Put" options to create a Straddle.
After that click on the "Ask Price" to buy the protection wings, which must be 200 points away to complete the Ironfly Strategy.
You may notice that lot size is already displayed as 100, as it has been set as the default lot size.
However, when you open the order, the default order lot size provided by the platform will be 1.
Then click the "Review" Button and you will get redirected to the Order Confirmation page.
Here, each of your leg will be split into three orders.
Click the "Place Order" Button to send the order to the exchange.
Please Note: Before clicking the Place Order button you have the option to Edit the Order by clicking the Edit Order button.
Locate the More Icon and click on it to navigate to the More page.
Click on Settings to get redirected to the "Settings" page.
Then, click the Checkbox near "Allow Split Order".
A Tick Mark will appear, indicating that Split Order feature for Futures Contract is now activated.
From Watchlist select the Futures or Options (Nifty or Bank Nifty) contract for which you would like to place the order.
However, the "Place Order" Button will not be activated now. To activate the button you need to Check the Checkbox near Split Order.
Go to Watchlist page and choose the desired "Futures or Options (Nifty or Bank Nifty) contract".
To Review and Modify the Price and Quantity, use the Expand Icon.
Check the order details again and click the Checkbox next to the Split Order to activate the "Place Order" Button.
