Buying intraday shares in the FYERS app is a straightforward process that can be completed in a few simple steps. Here’s a detailed guide on how to do it:
Step 1: Launch the FYERS App
- Open the FYERS app on your mobile device. Ensure you have an active internet connection to access the app’s features.
Step 2: Navigate to the Order Window
- On the app’s home screen, locate the search bar and enter the name or ticker symbol of the stock you wish to trade intraday.
- Once the stock appears in the search results, tap on it to open its detailed page.
- On the stock’s detail page, tap the “Trade” button located at the bottom of the screen. This will open the order window.
Step 3: Place the Intraday Buy Order
- In the order window, select the “Intraday” order type. This indicates that you intend to buy and sell the shares within the same trading day.
- Enter the desired quantity of shares you want to purchase. Remember to check your available margin or trading balance before proceeding.
- Set the order price, which is the price at which you want to buy the shares. You can use the market order option to buy at the prevailing market price or set a limit order to buy at a specified price.
- Review the order details carefully, including the order type, quantity, price, and total value.
- Once satisfied with the order details, tap the “Buy” button to place the order.
Step 4: Monitor the Order Status
- The order will be placed and will be reflected in the “Open Orders” section of the app.
- You can monitor the order status to see if it has been executed or filled.
- If the order is filled, the purchased shares will be reflected in your holdings.
Step 5: Square Off the Position (Optional)
- If you want to sell the intraday shares before the market closes, you’ll need to square off your position.
- To do this, open the order window for the stock again and select the “Sell” button.
- Enter the quantity of shares you want to sell and the order type (market or limit order).
- Review the order details and tap the “Sell” button to place the order.
- Once the order is filled, your position will be squared off, and the proceeds will be reflected in your trading balance.
Remember that intraday trading involves higher risk than long-term investing due to the shorter time horizon. It’s crucial to conduct thorough research, understand market dynamics, and manage your risk effectively before engaging in intraday trading.