Timing your trades—both entries and exits—can be a real challenge, especially when markets are volatile. Many traders often face the dilemma of missing good opportunities or making costly mistakes when manually handling their positions. FYERS Smart Step helps tackle this problem by offering a smarter way to manage trades, allowing you to enter and exit positions with ease—almost like having automation but without the need for constant supervision.
The Problem: Manual Trading Limits Your Options
You find an appealing opportunity in a stock but don’t want to commit all your funds at once. Ideally, you’d like to enter the trade in stages as the price drops, but you can’t monitor the market all day. As a result, you compromise and place one large order, which could lead to higher risk if the price continues to fall.
This lack of flexibility can result in bigger losses or missed chances to buy at better prices.
The Solution: Smart Step – Bringing Ease to Your Trading
Now, let’s rethink the situation with Smart Step.
Instead of placing one large order, you can set the feature to stagger your entry into the stock. For example, if you want to buy 500 shares of a stock currently priced at ₹500, you can use Smart Step to purchase 100 shares each time the price drops by ₹10.
Here’s how your orders would look:
100 shares @ ₹500
100 shares @ ₹490
100 shares @ ₹480
100 shares @ ₹470
100 shares @ ₹460
Your total average buy price would then be ₹480, much lower than buying all 500 shares at ₹500.
Compared to buying everything at once, using this feature lets you enter positions in a more strategic way without needing to constantly monitor the screen. You secure better prices while eliminating much of the guesswork from your trades.
Example for Selling: Exiting Positions in Steps
Just as Smart Step simplifies buying during dips, it also ensures you maximize your gains when exiting positions.
Imagine you have 500 shares of a stock that’s risen from ₹500 to ₹600, and your target is ₹610. Rather than selling all 500 shares at ₹610, you could set it up to sell portions of your shares as the price increases, which helps you secure better exit prices.
Here’s what your sell orders might look like:
100 shares @ ₹610
100 shares @ ₹620
100 shares @ ₹630
100 shares @ ₹640
100 shares @ ₹650
By selling in parts, you gradually lock in profits at different levels. This strategy lets you manage your exits without having to manually intervene each time.
As you can view in the GIF above:
To place a Smart Step order, enter the total number of shares. Specify how many shares you want to buy at each step and define the price interval between each purchase. Select whether you want to buy more when the price goes up or down—here, it’s set to “Down,” meaning the system buys as the price drops. Define the time window during which the system should execute the order and specify how many shares should be bought in the first step.
Advanced (optional): You can also define a price range (high and low) within which the system will execute your orders, or leave it disabled if you don’t want to cap the price.
Before placing the order, review all the parameters—total quantity, average quantity per step, price intervals, direction, and time range to ensure everything aligns with your strategy.
Tracking and Modifying Your Smart Step Orders
Once your Smart Step order is placed, you can easily track, modify, or cancel it from the Smart Orders section within the platform, as shown in the GIF below. This gives you full control over your trades, allowing you to adjust or exit positions based on evolving market conditions.
Why Smart Step Is the Closest You Can Get to Automation
This tool combines flexibility and strategy, bringing you closer to automated trading. Here’s why it stands out:
Staggered execution: Enter and exit positions in smaller portions, following market movements to ensure more precise control over your trades.
Better price management: Achieve a more favorable average price by pre-setting your conditions for both buying and selling.
Avoid impulsive decisions: By setting up conditions ahead of time, you remove the emotional component of trading, which is especially useful during volatile market swings.
Free up your time: There’s no need to constantly watch the market—this feature does the hard work for you, letting you manage trades more efficiently.
Level Up Your Trading with Smart Step
FYERS Smart Step provides an advanced yet easy way to manage your trades. With the ability to plan your moves in advance, you can focus on strategy while the system handles the rest.
Download the FYERS App or visit our website today to explore how Smart Step can help you trade more efficiently.