We asked a trader while building Dhan - what do you usually do during market hours?
The answer was straight and quick - “Manage my Positions!”
And we wondered - why has nobody built a better product experience for this very thing which takes so much time for traders?
Time is money. Something that we have heard all the way along and we believe it is rightly said, especially for those who trade in stock markets. Dhan strives to provide you a lightning-fast experience, what we we also bring to you is information at a lightning-fast speed as it happens to help you make timely decisions.
Decisions that a trader needs to make are many - When to exit? To add more or to exit? Check liquidity with market depth? See charts? Oops, market direction is changing, now what? We can go and on, but you get it right? That is what we wanted to focus on when we started to build the experience for Managing Positions.
We iterated a lot on this experience and hope we have shipped it to your expectations. We want to give you an intuitive way to look at your positions that helps you get information faster, present the same to you visually, help you make decisions faster, and then - execute them equally fast on Dhan.
Let me summarize what we have made available for you on Dhan:
- Visual P&L Span: This is an industry first. For the first time, you will be able to visually see how your positions stand in the market, right now and in real-time. We didn’t stop here, we also went ahead and included your realized P&L for that day in this, making it more useful.
- Split View for positions in Profits or Loss: Markets set your expectations right, and fast. Not all positions are in profits, but we wondered if you really wanted to simply book profits, or even cut losses, why not? We are happy to again introduce to you an industry first, the ability to book profits from profitable positions or cut losses, all of this in a single tap with the same lightning-fast experience. Try this.
- Manage every position in Depth: Only on Dhan again, you can tap on any open position and see an in-depth view of your position. We bring to you a single screen display for the first time trade summary based on when you entered the position and the last traded price.
Is that all? Of course not!
In addition, we give you a full view of market depth and transfer to managing positions on charts. Adding more to the position or exiting from it is equally easy & quick. Want to shift gears from intraday to long term? It’s just a tap away.
So why are we building this view to manage open positions? Why do we care?
Oftentimes, traders get trapped in their trades and end up losing money due to emotional swings, lack of understanding of their profit and loss position. They tend to find information, arguments, and proof to support loss-making trades and justify their trading decisions. This is often done subconsciously and is not deliberate but slips their losses further. We want to avoid such situations when you use Dhan.
To summarise again, on Dhan you have a visual and intuitive experience to track and manage your open positions. This is an experience that is built for a trader in mind, you should know when to get into markets and when to get out, and fast. So far we have observed how this feature is being used by active traders and it is encouraging.
For all of us at Dhan, product & experience building is a journey. We want to Raise the Bar for you.
Do try this feature and let us know your feedback!
