The Manual Order Entry page allows you to manually issue trades from Trader68 instead of having to use the broker software.
Figure 1: Manual Order Page
· Account
The selected Account the Manual Order is being placed to.
· Portfolio
The selected Portfolio the Manual Order is being placed to.
· Symbol
The selected Symbol the Manual Order is being placed for.
· Quantity
Choose the number of shares/units/contracts you wish to trade.
· Action
The Action determines whether the Manual Order is a Buy or Sell order..
· TIF (Time in Force)
The TIF (Time in Force) determines whether the Manual Order is GTC (Good Until Canceled) or Day which means the order is good until the market closes.
Main Order
· Order Type
The Main Order determines whether the Manual Order’s Order Type is one of the follow:
· Market
The Market is the default option and indicates to enter the market based on the last known price.
· Limit
Delay’s the trade until the price is better than the default limit price adjusted favorably by the specified percent or units. The trade will not be entered if the price does not reach the limit price.
· Stop-Market
An order placed with a broker to sell a security when it reaches a certain price.
· Stop-Limit
An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will be executed at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better.
· Relative
Its price from a combination of the market quote and a user-defined Offset amount. The order is submitted as a limit order and modified according to the pricing logic until it is executed or you cancel the order.
· Rel. Limit
Its price from a combination of the market quote, a user-defined Offset amount and a Limit amount. The order is submitted as a limit order and modified according to the pricing logic until it is executed or you cancel the order.
· MarketOnClose
A market order that is submitted to execute as close to the closing price as possible.
· LimitOnClose
An LOC (Limit-on-Close) order that executes at the closing price if the closing price is at or better than the submitted limit price, according to the rules of the specific exchange. Otherwise the order will be cancelled.
· Show Advanced Options
By enabling this checkbox you will have additional options when placing your Manual Order.
Figure 2: Manual Order Page w/ Advanced Options
Associated Orders
· Profit Limit
An order placed with a broker to sell a security when it reaches a certain price based on the profit gain.
· Stop Loss Order
An order placed with a broker to sell a security when it reaches a certain price. Here are the options for a Stop Loss Order:
· Stop-Market
An order placed with a broker to sell a security when it reaches a certain price.
· StopLimit
An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will be executed at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better.
· Trailing Stop
A trailing stop for a sell order sets the stop price at a fixed amount below the market price. If the market price rises, the stop loss price rises by the increased amount, but if the stock price falls, the stop loss price remains the same. The reverse is true for a buy trailing stop order.
Figure 3: Manual Order Page w/ Advanced Options for Financial Advisor Accounts
Financial Advisor Options
· Allocation Type
A pre-defined method of allocation with four different options:
· None
No specified allocation type.
· Group
Allocation to a specfied Group as pre-defined in TradersWorkstation.
· Profile
Allocation to a specfied Profile as pre-defined in TradersWorkstation.
· Single Account
Allocation to a specific account managed under the Financial Advisor account.
· Allocation Method
The method for which the amount is determined by which includes four options:
· PctChange
Method based on percent change defined in the field adjacent to Allocation Method.
· AvailableEquity
Method based on available equity defined in the field adjacent to Allocation Method.
· NetLiq
Method based on net liquidation of the specified account(s).
· EqualQuantity
Method based on equal quality of the specified account(s).