A basket order or basket trade is an order to buy or sell a group of securities simultaneously. Basket trading is primarily used by institutional investors and investment funds who wish to hold a large number of securities in certain proportions. As cash moves in and out of the fund, large baskets of securities must be bought or sold simultaneously, so that price movements for each security do not alter the portfolio allocation.
Basket Orders is a tool which enables investors and traders to invest in stocks forming a Portfolio at its own discretion. Just like institutional investors, a savvy retail investor or a trader may at times want to enter or exit into a pre-planned portfolio or a trade position. Basket Orders can help you save your time and reduce the risk of order errors and price movements while order placement. Benefits of using a Basket Orders for retail investors are:
- Personalized Choice: Investors can create a basket trade that fits their investment objectives.
- Easy Allocation: Basket trades make it straightforward for investors to allocate their investments across multiple securities.
- Optimize time in order placement. Single click can place multiple orders together.
- Reduce the risk or price movements while order placement.
Basket orders are a feature provided by Zerodha Kite, where you can place multiple orders at one time. This is simply a visual tool built on top of Kite Publisher. All orders are executed within your own Kite account and we do not store any order placement data. Feel free to checkouot or fork the source code.
Basket Orders a visual tool built for Zerodha Kite Platform and so you can use this only if you have a demat and trading account of Zerodha. Open an account if you do not have one.
If you have an operational account, head to basketorders.tk to get started. In the textbox on left side of screen, you can either enter orders in comma separated format or paste from any spreadsheet software and click the [→] button to place a basket order on Kite. If a user is not already logged in, he'll be asked to login, otherwise, he'll be taken to the order basket confirmation page directly.
While preparing your basket order data, make sure that you have the tradingsymbol, exchange and quantity columns in your data. These are mandaory. Apart from these, a detailed reference of other columns that you can use in your basket orders is available on the right side of screen at basketorders.tk.
Switch (Contingent or Swap) Order is an order to sell one security and then to buy another typically using the proceeds of the sell order to fund the buy order.
Swap Order is simply a special form or Basket order. You can read about Basket order security above.
Simply pass the following GET parameters to the URL basketorders.tk/swap.html
symbolFromScrip symbol to sellquantityQuantity to sellsymbolToScrip symbol to buyexchange(optional) BSE or NSEproduct(optional) CNC or MIScostPc(optional) Cost percent to offset brokerage costs. Defauts to 0.0022 (0.22%)
Here's a sample URL build to exit a position of 50 shares of INFY and enter into LIQUIDBEES using the proceeds, offsetting a cost percent being 0.15%:
https://basketorders.tk/swap.html?symbolFrom=INFY&symbolTo=LIQUIDBEES&quantity=50&costPc=0.0015
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