AMT orders allow you to place your basket of orders when a trigger, set by you, is met. You can attach an alert to a basket and when the condition of the alert is met orders in the basket will be placed automatically. In other words it is a marriage of Alerts and Basket features making Alerts powerful to place orders for you.
E.g. You want to execute a Bull Call spread strategy when BankNifty crosses 48500 mark. You can add your orders to one basket, let's say “Bull Call Basket” and you can create an alert on BankNifty’s LTP greater than 48500 let’s say “Bull Call Alert” and attach this alert to Bull Call Basket. Once the condition set in Bull Call Alert is met orders in the Bull Call Basket will be placed.
This is different from GTT or stoploss orders as you can set alerts on one instrument and place order of other instruments. E.g. You can set alerts on BankNifty and add orders of SBIN, HDFCBank, 48500CE etc.
This is not algo as both alerts and orders are set by you unlike algos where you don’t know which orders will be placed. E.g. An algo can be: sell ATM call & put at 9:30. Now you don’t know which strike price will be at the ATM at 9:30 and hence don’t know which order will be placed. But, in the case of AMT orders are chosen by you.
How to place AMT orders:
Create a basket or go to the Basket of your choice
Add desired orders you want to get executed on alert
Tap on “Add Trigger” button available at the top right corner
Select the desired alert already created by you
Tap “Execute on Alert” button
Once the triggered condition of alert is met, orders in the basket will be sent for execution. In the above process you attached an alert to a basket. In a similar way you can add a basket to an alert.
Create an Alert or go to the Alert of your choice
Add desired condition for your alert you
Tap on “Add Basket” button available in middle
Select the desired basket already created by you
Tap “Create Alert” button
Once the triggered condition of alert is met, orders in the basket will be sent for execution.
How to modify or cancel Trigger of AMT orders
Tap on the Basket where alert is set
Tap on “Modify Alert” button
To remove an alert from basket tap on “Remove Trigger” upon which trigger of alert will not place basket orders
To modify the alert choose different alert of your choice or tap on “Edit” icon available beside the alert already chosen
Modify alert condition according to your view and tap “Save Edit”
How to modify or cancel Basket of AMT Orders
Tap on the Alert where basket is set
Tap on “Modify Basket” button
To remove the basket from alert tap on “Remove Basket” button, upon which basket orders will not be placed on trigger of the alert
To modify the basket: choose different basket of your choice or tap on “Edit” icon available beside the Basket already chosen
Modify the basket according to you and tap on “Update” button
Note: 1. Margin is not blocked at time of creating a basket, albeit checked when the basket orders are sent for execution. It is the responsibility of you to maintain sufficient margin/positions for the orders to execute.
2. As with other smart orders like GTT, iceberg etc, executions are not guaranteed and slippages may occur due to delay in alert and order execution.
3. Since each order of the basket is a separate order, brokerage will be charged according to the number of orders in the basket.