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Entries in Position Management (1)

Thursday
Mar142013

 

Order Type - The user can choose from the following order types.

 

  • Limit Order is an order to buy/sell a security only when the asset reaches the designated price specified.
  • Market Order is an order to buy/sell a security at market price.
  • Stop Order is an order to buy/sell a security at market once the price of the security has traded above or below a specified stop price.
  • Stop-Limit Order is an order to buy/sell a security at a prescribed limit price, once a stop price has been reached. Once the stop price is reached, a stop-limit order becomes a limit order that will be executed at a specified price or better.

Duration

 

  • DAY expires at the end of the trading day
  • GTC good till cancel
  • EXT extended hours

Send - This will send a working order that will be filled when the price meets the criteria entered in the input fields. 
 
Clear - This will clear all of the input fields and restore them to the default settings. 
 
Position Management The Position Management section of the Order Management window gives the user the ability to set/adjust a target (limit) and stop price of a currently open position.
 
 
. Note: When the user sets both a target (limit) and stop in Position Management, this sends an OCO (One-Cancels-Other) like order. When either the target (limit) or stop price is reached and the order has been filled, the other order will automatically cancel. 
 
If the user sends a limit and a stop order separately in the Manual Order section of the Order Management window, this will not act as an OCO (One-Cancels-Other) like order as noted above when using Position Management. In this situation, when the stop or limit price is reached and the order has been filled, the other order continues working, and will trigger when the price entered by the user is reached, resulting in a buy or sell. This is why we have created the "Position Management" section of the Order Management window.