Trade Panel
The trade panel is a convenient tool for managing orders and positions from the chart. This panel can be displayed by choosing View > Trade Panel from the top menu bar (or press Alt/command + T). There is also a button available on the tool bar that toggles the display of this panel.
The Trade Panel has two tabs that provide different trading options.
Position Tab
The Position tab may be used to manage your current position for the chart instrument. A default tab has the following elements:
Quantity – This is the quantity for the market orders. It will default the value in order presets
Time In Force Chooser (TIF) – Effective time for the order. Day orders will expire at the end of the day. GTC orders last until they are cancelled (Good Till Cancelled). The options available in this field will vary depending on the broker.
Exit Strategy – defines how an existing position will be closed using a combination of one or more orders (bracket order). See Exit Strategies.
Buy Market Button – Creates a market order to buy the given quantity at the market price
Sell Market Button – Creates a market order to sell the given quantity at the market price
Buy Ask Button – Creates a limit order to buy the given quantity at the ask price
Sell Ask Button – Creates a limit order to sell the given quantity at the ask price
Buy Bid Button – Creates a limit order to buy the given quantity at the bid price
Sell Bid Button – Creates a limit order to sell the given quantity at the bid price
Flatten Button – If you currently have an open position, this button will close the position at market price
Cancel All – If you have open orders for the chart instrument, this will cancel these orders
Break Even – Creates an exit order at the break even price.
Reverse Button – If you have an open position this will close that position and open a position in the opposite direction. For example, if you were currently long 10K, this would close the long position and open a short position for 10K
Account Chooser – Enables you to choose the account for the orders
Position Label (Pos)– Displays the current position (N/A for no position). If the label background is blue, then the position is long. Short positions will have a red background as well as a negative number for the quantity.
P/L Label – Displays the current unrealized profit/loss for the open position. A loss will be displayed with a red background (and a negative sign). A profit will be displayed with a blue background. If there is no open position, this label will display N/A.
Order Tab
The Order tab is used to create or modify existing orders. New orders can be created by clicking on the Buy or Sell buttons. An existing order can be modified by selecting it on the chart (left click on the label).
Buy Button – Indicates if the order is a buy or sell. If no order is selected on the chart, you may click on this button to create a buy order.
Sell Button – Indicates if the order is a buy or sell. If no order is selected on the chart, you may click on this button to create a sell order.
Quantity – quantity for the selected order. This will default to the order preset if it is a new order.
Order Type – list of available order types (broker dependent). The selected choice will influence the visible fields below (ie limit price, stop price etc).
Limit/Stop Price – Depending on the type of order these fields may be visible underneath the Order Type field.
Time In Force – effective time for the order. Day orders will expire at the end of the day. GTC orders last until they are cancelled (Good Till Cancelled). The options available in this field will vary depending on the broker.
Limit – Use this option to attach a limit (profit) order. This order will be activated when the primary order is filled
Stop – Use this option to attach a stop order. This order will be activated when the primary order is filled and will be an OCO (one cancels other) order with the limit order above.
Trail – Use this option to attach a trailing stop order (instead of the stop order above).
Submit/Modify Button – Click this button to submit the order to the broker. This button will have a red background for sell orders and a blue background for buy orders
Discard/Cancel – Discards (for new orders) or cancels the order
Account Choice – Account for the order. For new orders, this will default to the Primary account (set in the Accounts panel).
Position Label (Pos)– Displays the current position (N/A for no position). If the label background is blue, then the position is long. Short positions will have a red background as well as a negative number for the quantity.
P/L Label – Displays the current unrealized profit/loss for the open position. A loss will be displayed with a red background (and a negative sign). A profit will be displayed with a blue background. If there is no open position, this label will display N/A.
Trade Panel Settings
General
Location – Select the location of the Trade Panel on the chart.
Exit Attach – When using an exit strategy and click attach (paper clip button) to attach an exit strategy to an existing position. You can attach based on average entry price or the last price.
Show Order Ticket Panel When Selecting Order – If enabled, when you select an order or make an order on the chart, it will switch to the Order Ticket Panel.
Show P/L – Displays the Profit/Loss in the Trade Panel.
Panels
The Trade Panel layout can be modified via this tab.
Exit Strategies
Defaults
When the Trade Panel is modified, the changes are only applied to the active Trade Panel within the chart. At the bottom of the dialog, click on the Defaults button. This will set the default for any new Trade Panels that are created (but will not affect existing Trade Panels).
Templates
Templates can be very useful for creating and applying multiple layouts. If you are trading different instruments you may want to have one or more Trade Panel layouts. From the template drop down button at the top of the Trade Panel there are options to save, manage or apply templates (there is also a Template button at the bottom of the Trade Panel Settings dialog).
In the screen shot below we are saving the customized Trade Panel that we created in a previous section as “Simple Panel”. This new template can then be applied to another trade panel by selecting it in the Templates button drop down.
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