Big Trade Plus (BTP) Order is an order placement facility wherein any market order can be placed along with a Stop Loss Order. BTP orders (Buy / Sell) are always Market Orders and accompanied with a compulsory Stop Loss order, in a specified range. This Stop Loss order cannot be cancelled.

Since the Stop Loss Order is placed simultaneously, while getting into the contract, the risk that is taken automatically reduces. Because the risk reduces, the margin requirement also automatically reduces. Remember that all Big Trade Plus (Cover Orders) will be automatically squared off at 3:15 PM and hence this is a good tool for Intra-day traders only.

• Higher Leverage: Since risk is limited to the extent of Stop Loss, a trader can get the benefit of Higher Leverage for intra day through this product.

• Discipline: While placing a Big Trade Plus orders, you have to compulsorily place a Stop Loss order and cannot cancel such orders. This way you are also limiting your losses, if any.

What is Big Trade Plus order?

Big Trade Plus order is an order placement feature where you can take a position at market price and also place a cover order for the position specifying the Stop Loss Trigger Price (SLTP) and the limit price. This will minimize the loss on the position.

Thereby it gives a clear view of maximum downside involved in a particular position. Since you are committing to square up the position at a particular price, Sharekhan won't levy a normal margin. It would block the maximum loss which customer can suffer.

What is First leg order?

The compulsory Market order that is placed for creating the position is called First leg order.

Can I place a limit First leg order?

No, First leg order is always a default market order.

What is a Stop loss Market order?

The First leg order as defined above will help you take a position. Assuming you have taken a buy position, your cover will naturally be a sell order. This is a Stop loss Market order.

A Stop loss Market order allows the client to place an order, which gets triggered only when the market price of the relevant security reaches or crosses a trigger price specified by the investor in the form of 'Stop Loss Market Price'.

Let’s say, 'Mr. A' buys Reliance at 325 in expectation that the price will rise. However, in the event the price falls, 'A' would like to limit his losses. ' A' will place a market sell order specifying a Stop loss trigger price of 305. Once the last traded price touches or crosses 305, the order gets converted into a market sell order.

What is a Book Profit order?

In addition to the stop loss order, profit exit option is also available in form of Third leg called as Book Profit order.

A Book profit order allows the client to place an order, which gets triggered only when the market price of the relevant security reaches or crosses a book profit trigger price specified by the investor in the form of 'Book Profit Market Price'.

'Mr. A' buys Reliance at 325 in expectation that the price will rise. In case price reaches to 350, he would like to exit and book the profit. 'A' will place a book profit order specifying a Book Profit trigger price of 350. Once the last traded price touches or crosses 350, the order gets converted into a market sell order.

Can the Stop loss Limit order be cancelled?

No, Stop loss Limit order cannot be cancelled.

Can the Stop loss Limit order be modified?

Yes, one can modify the Stop loss Limit order.

What is the margin that is charged?

Margin charged will be higher of below:

a) Scriptiwse minimum margin (as per list attached) or,
b) Difference between Trade price and Stop loss plus margin pad up % on the trade price (as per the Big Trade Plus scrip list provided on the website order placement page)

Would the Margin be recalculated when the order gets executed?

Yes, at the time of order placement the current market price at that point of time is considered hence it may happen that execution is at a different price than the one at which limits have been blocked.

Would the margin be recalculated at the time of modification?

Yes, it is recalculated and excess amount if any will be released or additional margin needed will be blocked if one changes the limit.