What is this feature?
This feature enhances the watchlist functionality by allowing users to quickly scan the scrips in their DEMAT account. Users can also scan ATM, ITM, or OTM strikes in the option chain directly from the watchlist. The feature enables users to download their watchlist for analysis and research purposes. Additionally, users can change pinned indices directly from the Watchlist Header dropdown, view information on which index options or futures contracts are expiring today, and pin the nearest futures contracts of MCX Commodities. The search functionality has also been improved, allowing users to type just 2 characters to fetch a list of scrips.
Why are these features important?
- The watchlist serves as a crucial touchpoint for various transactions, flows, and overall user experience.
- Users need to act quickly on decisions made from the watchlist, especially when it contains a large number of scrips (up to 200).
- Faster access to search results helps users make quicker decisions on adding scrips or acting upon them.
- The ability to download the watchlist allows users to perform their own analysis and research.
- Scanning through numerous option contracts under the same index or scrip can be cumbersome, so the ability to quickly act on trade opportunities is essential.
- Seeing holding quantities directly on the watchlist allows users to act faster if the LTP of their investment is in their favor or against it.
Why is this feature important now?
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Growing Popularity of Active Trading Strategies: The rise of day trading, swing trading, and scalping in both equity and derivatives markets has created a need for faster access to data and more efficient execution. This feature supports active traders by helping them quickly scan, track, and act on opportunities in real time.
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Increasing Complexity of Markets: As financial markets become more complex, especially with options and futures trading, traders need to process and analyze more data in less time. This feature helps by simplifying access to critical data points directly in the watchlist, reducing complexity and speeding up decision-making.
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Demand for Customization and Control: With an increasing number of traders looking for personalized solutions, this feature allows users to tailor their watchlist and trading interface according to their needs (e.g., pinning indices or downloading watchlists). This gives users more control over their trading environment and helps them make informed decisions faster.
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Rise of Data-Driven Decision Making: In today’s trading environment, decisions are often based on real-time data. Traders are increasingly relying on accurate, up-to-date information to inform their strategies. The ability to scan, track, and analyze scrips, options strikes, and commodity futures directly from the watchlist allows users to make decisions faster and with more precision.
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Need for Speed in Volatile Markets: In high-volatility markets, speed is crucial. Traders need to act swiftly when they see an opportunity. This feature accelerates the process of scanning, tracking, and executing trades, helping users take advantage of opportunities before they disappear.
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Focus on Efficiency and Productivity: As trading platforms evolve, there is a greater emphasis on efficiency and productivity. This feature directly addresses that by minimizing the time spent searching for data and increasing the speed of decision-making and execution, helping users become more productive.
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Advancement of Web Pro Platform: As the Web Pro platform continues to evolve with more advanced tools and features, the need for enhanced data discovery and quick execution becomes more pressing. This feature fits within that context by enabling users to access, analyze, and act on data without unnecessary delays.
Who is this feature for?
This feature targets all users of the Web Pro platform who are active daily and rely on quick analysis and execution.
How does this feature help you be a better trader or investor?
- Increased Efficiency: By consolidating various tasks like scanning, searching, and monitoring in one place, users save time and reduce the number of clicks needed to execute their strategy. This improves overall workflow and allows for quicker decision-making.
- Reduced Missed Opportunities: With faster access to relevant data (such as holding quantities, strike positions, or expiry dates), users can act on market movements as soon as they occur, minimizing the risk of missing out on profitable trades.
- Real-Time Data Access: Users can track real-time changes in their watchlist, option strikes, and holdings, ensuring they’re always informed and able to respond quickly to market conditions.
- Customizable View: The ability to pin indices or scrips, and download the watchlist for offline use, provides greater flexibility to tailor the platform to individual preferences and trading needs.
- Better Risk Management: Being able to view the quantities and current status of holdings in the watchlist allows users to more accurately gauge their risk exposure and make adjustments accordingly.
- Improved Strategy Execution: With the ability to track ATM, ITM, and OTM strikes directly, traders can more efficiently implement strategies such as hedging, spreads, or directional plays without losing time navigating through different sections of the platform.
- Enhanced Analysis: Downloading the watchlist provides the ability to conduct off-platform analysis and maintain a historical record, empowering users to refine their strategies based on past performance or market trends.
- Faster Trade Execution: Quick access to desired scrips and options data enables users to place trades more quickly, which is crucial during fast-moving markets or high-volatility periods.
- Simplified Multi-Tasking: The ability to simultaneously manage multiple data points (such as options contracts, scrips, and commodities) in a single view helps users manage complex portfolios more easily.
- Better Market Understanding: The option to track expiry dates for index options and futures contracts directly helps users stay informed of key market events, enhancing their ability to anticipate and react to market shifts.
If you want to know more about how to use enhanced watchlist, check this post:
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