Basket Order Zerodha feature is one of the best tools available on the trading platform when it comes to implementing a strategy. At the time of implementing a trading strategy which includes multiple orders say Iron Fly, it is always beneficial to place all the orders at once. By doing so, our strategy becomes more profitable because price differences between trades will be very low. In this tutorial, we will walk you through how to create basket order in Zerodha.
Zerodha's multi-order facility, Basket Order Zerodha, enables us execute multiple orders at once. For example, by using this facility, you can execute multiple trades with a single click for free.
I strongly suggest you take advantage of this multi-order facility because Zerodha basket order charges are NIL.
Yes, there are no separate charges for using basket order facility in Zerodha.
If your trading includes strategies like Iron Fly, Straddle, Strangle, Iron Condor or the like then you must use this facility because as a trader you might already know placing all orders in minimum possible time is how important when we apply above mentioned trading strategies.
Zerodha basket order facility also helps us execute trades with minimum possible margin. Yes, if you will watch the video then you will find out that while converting straddle to Iron Fly how our required margin decreased from ₹168000 to ₹37000.
How to create basket order in Zerodha?
Watch the embedded video to know the steps for placing a basket order. Video language is Hindi therefore if you don't understand the language then read the written instructions.
If you don't have trading account in Zerodha then click on the following link now to open your account:
Steps to create basket order in Zerodha:
Here are the steps to create basket order in Zerodha:
- From Zerodha Kite dashboard, click on Orders.
- Click on Baskets under Orders section.
- Click New Basket and give a desired name to your basket order. Subsequently, click on Create.
- Now search your script (stock or option strike price) in the given search bar.
- Click on the name of the script and enter required details/options such as buy/sell, price, quantity and the like and then press Add button. You will see that script is added to your basket order facility.
- Similarly, repeat the process to add more scripts.
- Once you add all the orders you want place using basket order Zerodha facility, click on Execute.
- Ta da! Your all orders in Zerodha basket will be executed and you can find them in Positions tab.
By following the steps given above, you can create a basket order in Zerodha.
Benefits of Zerodha Basket Order
- It lets you execute multiple trades with a single click.
- You can significantly reduce required margin for trade.
- You can place order at either market or limit price.
- Zerodha basket order charges are nil.
- To initiate SIP on Zerodha platform, you will be required to create a basket.
How to exit basket orders in Zerodha?
To exit from basket order in Zerodha, you don't need to follow any separate process. You can simply go to Positions sections and exit from trades as you normally do or you can select all the active trades and then choose Exit.
What are Zerodha basket order charges?
As mentioned in the beginning, Zerodha does not charge anything extra for basket order facility. So you can enjoy this facility for free.
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