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 place 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.
· Entry/Exit Order
The Entry/Exit 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 market price.
· Limit
The Limit indicates to delay 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.
· Relative
The Relative indicates 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.
· Relative Limit
The Relative Limit indicates 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
The MarketOnClose indicates a market order that is submitted to execute as close to the closing price as possible.
· LimitOnClose
The LimitOnClose indicates 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.
· Take Profit
The Take Profit indicates the amount of profit taking based on the Limit field.
· Stop Loss
The Stop Loss indicates the amount of profit taking based on the Stop At field and the Order Type field as follows:
· StopMarket
The StopMarket is the default option and indicates a market order to buy or sell securities or commodities once the specified stop price is attained or penetrated.
· StopLimit
The Stop Limit indicates a limit order once the specified stop price is attained or penetrated.
· BrokerTrailingStop
The BrokerTrailingStop indicates 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.