Every trader has a unique strategy, risk appetite, and approach to the market. At Dhan, we recognize this individuality and build tools to empower traders with flexibility and control.
Introducing Super Orders—a revolutionary all-in-one order type that combines multiple functionalities into a single seamless experience, making trading more efficient and hassle-free.
Read this blog to find out all about it.
Problem Statement
Managing multiple order types simultaneously can be cumbersome for traders. Traditional order placement often requires executing separate entry, target, and stop-loss orders, leading to increased complexity and a higher risk of manual errors. Additionally, switching between different order windows disrupts the trading flow, causing delays that impact trade execution.
While Bracket Orders, Cover Orders, and Trailing Stop Loss exist as separate tools, they each have limitations when used in isolation. With Super Orders, traders could combine the best aspects of these order types in a single, streamlined solution.
Dhan has addressed this challenge by introducing Super Orders, which integrate multiple order types into a single order window, allowing for better risk management, faster execution, and enhanced control over trades.
What is the Feature?
Super Order is a multi-legged order type that lets traders set their Entry Price, Target Price, and Stop-Loss Price in a single order window. It also includes an optional Trailing Stop-Loss (TSL) feature to automatically adjust the stop-loss in the direction of trade when the Last Traded Price (LTP) moves favorably.
The OCO (One Cancels Other) mechanism ensures that if either the target or stop-loss order is executed, the other order gets canceled automatically. While the entry order is sent to the exchange immediately, the target and stop-loss orders remain stored in Dhan’s system and are triggered only when the market price reaches the predefined levels.
Super Orders work seamlessly across all trading scenarios:
- All products: Intraday, Delivery, and Normal
- All segments: Equity, Futures, Options, and Commodities
- All exchanges: NSE, BSE, and MCX
- Works with Pay Later / MTF
- Available across all Dhan platforms, including TradingView charts
How Does It Help?
1. Unified Order Placement
Super Orders eliminate the need to place multiple separate orders. Traders can set their entry, target, and stop-loss in a single order window, making order placement faster and more efficient.
2. Automatic Risk Management with OCO
The One Cancels Other mechanism ensures that once either the target or stop-loss is hit, the remaining order is automatically canceled, reducing the risk of unintentional open positions.
3. Enhanced Control with Trailing Stop-Loss (TSL)
With the optional Trailing Stop-Loss, traders can let their profits run while securing gains. The stop-loss automatically moves in the direction of a profitable trade, providing better risk management without manual intervention.
4. Works Across All Trading Strategies
Super Orders are designed for all types of traders:
- Intraday traders can execute fast trades with precise risk management.
- Swing traders benefit from automated exit strategies.
- Options traders can seamlessly integrate Super Orders into their strategies.
- Long-term investors can manage their portfolio exits efficiently.
5. Seamless TradingView Integration
Traders can execute Super Orders directly on Dhan’s TradingView charts using:
- Dhan Standard Order Window
- TradingView Native Order Window
- Drag & Drop TP/SL from order line
6. New Super Orderbook & Position Management
To further enhance usability, Dhan has introduced a Super Orderbook & Position Management System, allowing traders to view their Super Orders in a dedicated interface. This provides a real-time position overview and a seamless transition between position tracking and order execution.
Conclusion
Super Orders mark a significant innovation in trading on Dhan. By combining the best features of multiple order types into a single, efficient solution, Super Orders provide traders with more control, better risk management, and an enhanced trading experience. As this feature evolves, traders can expect even more refinements based on their feedback.
Try Super Orders on Dhan today and experience a smarter, more powerful way to trade!
