Zerodha / Sachin
Thanks for information & help. Yes, I have noticed it AFTER you pointed that out for me, thanks.
(1) In that window, I can see Spread, 2L and 3L under Order Type, what is all that & how it is used, please explain for all of us.
(2) Validity is IOC, what does that mean.
(3) While putting order for Spreads, should one use MIS or Normal Order.
Waiting ........
Sorry I disturb you much but I have never gone through such trades myself before so am curious to know .........
Cheers
shekhar
Shekhar, the spread order window is used for hedging your bets. My answers to your questions are given below:
To place a spread order please do the following:
1. Press "Ctrl + Shift + F1" to get the order window open. For trading a spread, you have to put your price as the difference between the two contracts. For example, if you want to buy the Nifty spread and the price difference between the two calendar months is 40 points, you have to put 40 as the price in the price window.
2. You can choose the type of order you want:
a. Spread (calendar): This by default chooses one buy and one sell.
b. 2L: You can choose to buy or sell both legs.
c. 3L: You can choose to trade three legs at the same time.
3. Once the order is chosen, decide the quantity and the price. If it's not a spread order, then you have to put the price for each contract individually.
4. Click on submit and you're done.
IOC means Immediate or Cancel
All spread orders are NRML in nature.
Hope this information helps.
Hari