We recommend reading this chapter on Varsity to learn more and understand the concepts in-depth.
Key takeaways from this chapter
- You need to invoke a buy order form by pressing the ‘B’ key to buying a stock. Likewise, you need to gather a sell order form by pressing the ‘S’ key to sell a stock.
- You choose a limit order type when you are keen on transacting at a particular price; else, you can opt for a market order.
- You choose CNC as a product type if you want to buy and hold the stock across multiple days. If you want to trade intraday, you choose NRML or MIS.
- An order book lets you track orders that are both open and completed. You can modify the available orders by clicking on the change button at the order book’s bottom.
- Once the order is completed, you can view the trade details in the trade book. In the case of a market order, you can view the exact trade price by accessing the trade book.
- You can press the F6 key to invoke the market depth or snap quote window. The market watch enables you to see bid and ask prices.
- The bid & ask prices refer to the price you can transact. By default, the top 5 bid and ask prices are displayed in the market depth window at all times.