The trading terminal is a comprehensive and detailed tool that has analytical capabilities using charts, trendlines, and technical indicators on live and historical data. The trading terminal provides us a platform to trade in a different asset classes like cash, Derivatives, Commodities, Mutual Funds, ETFs, Currencies, and many more on a single window with just a click of a button.
Earlier whenever a trader or investor wishes to buy a tradeable asset on the stock market, he had to call the broker and speak to the designated team to place an order on his behalf.
Now due to the implementation of technology a trader or investor can directly place an order by using a Laptop/Desktop or even a Mobile phone by using the trading terminal or mobile application designed by the respective broker.
All the above way opens the gate for investment through brokers on exchanges.
You can access the trading terminal (TT) by simply entering the URL on your browser. To access the trading terminal, you need to have a trading account with your respective broker.
A good trading terminal offers you numerous useful features. We will start by understanding a few basic features. let us set two basic tasks using the trading terminal.
Below steps can be followed to most of the terminals available in the market.
Follow the below steps to place orders in the trading terminals.
Step1: Login into your trading terminal (web-based or App-based) using your credentials (User Name, Password, and PAN or DOB)
Step2: Set up a watchlist (watchlist contains the stocks which you want to track and the stock which are to be part of your potential trades. Once you add the stocks to the watchlist you can view the bid price ladder, ask price ladder, last traded price, Volume, Previous Close, High, Low, Open, and close of the stock.
Step 3: Based on your analysis you can execute your trades, i.e., buy and sell. You can enter the desired quantity and order type(Limit, Market, SL) and also select whether the delivery or intraday place order accordingly.
Step 4: The orders placed can be viewed in the order book option.
In the order book, you can check whether the order is executed or not, if not executed you can amend the order and re-sent it for execution.
Closing thoughts: A trading terminal is a gateway to markets, Get used to the various options available on the trading terminal for faster and hassle-free execution of orders.
