ODIN Order Type

nitinsy · #1 24th September 2008, 11:17 PM

Hi,
I just signed up with RKGlobal and got ODIN client. I was look at it and couldn't figure out the order type correctly. When placing derivative order there are 4 order types listed:

1. RL
2. ST
3. SL
4. MIT

Q1. SL is stop loss and RL is basic order. I couldn't figure out ST & MIT. Any idea?
Q2. When I select ST, another dropdown is enabled labeled "MF/AON". There is an edit box next to this drop box. Any idea what these two are?
Q3. What is "O/C" dropdown for?
Q4. What is "C/U" dropdown for?

Thanks in advance
Nitin

nitinsy · #2 25th September 2008, 11:57 AM

Didn't get any answers

BUT found some info here
http://www.traderji.com/brokers-dema...in-diet-2.html

mahesh2007 · #3 29th September 2008, 02:43 PM

Quote:

Originally Posted by nitinsy

Hi,
I just signed up with RKGlobal and got ODIN client. I was look at it and couldn't figure out the order type correctly. When placing derivative order there are 4 order types listed:

1. RL
2. ST
3. SL
4. MIT

Q1. SL is stop loss and RL is basic order. I couldn't figure out ST & MIT. Any idea?
Q2. When I select ST, another dropdown is enabled labeled "MF/AON". There is an edit box next to this drop box. Any idea what these two are?
Q3. What is "O/C" dropdown for?
Q4. What is "C/U" dropdown for?

Thanks in advance
Nitin

RL- regular lot
SL- stop loss
ST- special trade
AON- all or none
MF- min fill
MIT- market if touched

for the SOI-
http://cbse.nic.in/fmm-12/NEAT_chapter_2.pdf

cheers

nitinsy · #4 29th September 2008, 08:05 PM

Thanks Mahesh,
Just what I was looking for

Nitin

humble.student.trader · #5 25th August 2009, 10:51 PM

Dear experts. This was useful info.

Can someone explain how I place SL order in rk global. I have never made use of SL order so far. So need your help to understand

What I want to do is buy NIFTY Futues at 4600 and sell it either if it reaches 4575 realising loss or if it reaches 4650 realising my profit.

Do I need to place:
one RL for buy 4500
one sell SL with Trig price 4580 and price 4575
one sell SL with Trig price 4665 and price 4650

Thanks for your help

nitinsy · #6 25th August 2009, 11:37 PM

Quote:

Originally Posted by humble.student.trader

Dear experts. This was useful info.

Can someone explain how I place SL order in rk global. I have never made use of SL order so far. So need your help to understand

What I want to do is buy NIFTY Futues at 4600 and sell it either if it reaches 4575 realising loss or if it reaches 4650 realising my profit.

Do I need to place:
one RL for buy 4500
one sell SL with Trig price 4580 and price 4575
one sell SL with Trig price 4665 and price 4650

Thanks for your help

Assuming Nifty is above 4600 (say 4615), here is what you would do

Initial Entry: Place Buy RL order for nifty at 4600.

After order is executed (if nifty retraces to 4600 from 4615) set stop loss and take profit as follows:

Stop Loss: Place Sell SL order with trigger price 4575 and price 4565. If any trade occurs at 4575 (or below) your order will get executed for a price between 4575 and 4565. Exchange will try to get you the best price between these two. If there is no one willing to buy between 4575 & 4565 then this order will convert into a sell order at 4565. In liquid markets (such as nifty) this is not a problem but in illiquid markets if there is a fast move then your order may not get executed

Take Profit: Place Sell RL order for nifty at 4650

Don't forget to remove the other order if one of stop loss or take profit order is executed

humble.student.trader · #7 26th August 2009, 11:45 AM

Thank you very much. That is very helpful

lazytrader · #8 2nd September 2009, 08:09 PM

Quote:

Originally Posted by nitinsy

Assuming Nifty is above 4600 (say 4615), here is what you would do

Initial Entry: Place Buy RL order for nifty at 4600.

After order is executed (if nifty retraces to 4600 from 4615) set stop loss and take profit as follows:

Stop Loss: Place Sell SL order with trigger price 4575 and price 4565. If any trade occurs at 4575 (or below) your order will get executed for a price between 4575 and 4565. Exchange will try to get you the best price between these two. If there is no one willing to buy between 4575 & 4565 then this order will convert into a sell order at 4565. In liquid markets (such as nifty) this is not a problem but in illiquid markets if there is a fast move then your order may not get executed

Take Profit: Place Sell RL order for nifty at 4650

Don't forget to remove the other order if one of stop loss or take profit order is executed

Some say it is not possible to place market order with RKG ODIN. Is true.

My my broker what I do when trading liquid counters is wait for a price confirmation move and place an order to buy or sell only entering lot size. Usually the size column has lot size already entered. So lets say there is a breakdown in Nifty Futures, all I need to do is click sell and confirm. With two clicks I am done placing a market order for one lot. (Assuming I have the sell order form up in anticipation of a breakdown. Placing SL for the order is as simple as hitting F1 and enter the SL price in Trigger column. The price is blank. It java based and fast.

Is placing order in this way possible with odin??

nitinsy · #9 2nd September 2009, 08:23 PM

Quote:

Originally Posted by lazytrader

Some say it is not possible to place market order with RKG ODIN. Is true.

My my broker what I do when trading liquid counters is wait for a price confirmation move and place an order to buy or sell only entering lot size. Usually the size column has lot size already entered. So lets say there is a breakdown in Nifty Futures, all I need to do is click sell and confirm. With two clicks I am done placing a market order for one lot. (Assuming I have the sell order form up in anticipation of a breakdown. Placing SL for the order is as simple as hitting F1 and enter the SL price in Trigger column. The price is blank. It java based and fast.

Is placing order in this way possible with odin??

Market orders are not allowed in FnO. Rest works similar to the way you have mentioned. The last traded price is automatically filled when you open the "new order" window

lazytrader · #10 2nd September 2009, 10:24 PM

Quote:

Originally Posted by nitinsy

Market orders are not allowed in FnO. Rest works similar to the way you have mentioned. The last traded price is automatically filled when you open the "new order" window

Is that not allowed with RKG only? or ODIN in general?

I don't mean the LTP is filled in. I meant it is blank. I can place an order by just entering the trigger price and no limit price.

The Following User Says Thank You to mahesh2007 For This Useful Post:
VJAY (29th September 2008)

The Following 2 Users Say Thank You to nitinsy For This Useful Post:
humble.student.trader (26th August 2009), lazytrader (2nd September 2009)