IWBank Quick Trade Broker Profile: Difference between revisions
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Unrealized Profit/Loss for the account is calculated in MultiCharts. | Unrealized Profit/Loss for the account is calculated in MultiCharts. | ||
IWBank | IWBank does not support Native One-Cancels-Others group. In this case MultiCharts emulates OCO group on its end. Simulated OCO-group means that all OCO orders are sent to the broker, price is monitored by MultiCharts and once one of the orders is filled, other orders from this OCO group are cancelled by MultiCharts. When one of the OCO orders is filled, MultiCharts sends a command to cancel the second OCO order to broker. Note that the second order may also be filled if price reaches its level before the cancellation is processed by the broker (see [[Trading Risks# OCO-Orders Risk|OCO-Orders Risk]]). | ||
====Setting up IWBank Quick Trade Connection==== | ====Setting up IWBank Quick Trade Connection==== | ||
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* '''DAY''' | * '''DAY''' | ||
: Order is canceled if it is not executed by the close of the trading day. DAY is set as default. | : Order is canceled if it is not executed by the close of the trading day. DAY is set as default. | ||
* '''GTC (Good- | * '''GTC (Good-Til-Cancelled)''' | ||
: Order stays within the system and in the marketplace till it gets executed or canceled. GTC orders are automatically cancelled under the following conditions. | : Order stays within the system and in the marketplace till it gets executed or canceled. GTC orders are automatically cancelled under the following conditions. | ||
* '''IOC(Immediate-or-Cancel)''' | * '''IOC(Immediate-or-Cancel)''' | ||
: Any portion of an order that is not filled is to be canceled as soon as it becomes available in the market. | : Any portion of an order that is not filled is to be canceled as soon as it becomes available in the market. | ||
* '''GTD (Good | * '''GTD (Good-Til-Date)''' | ||
: Order is placed and it is active up to a specified date. Once GTD Time-In-Force parameter is selected, the '''Good | : Order is placed and it is active up to a specified date. Once GTD Time-In-Force parameter is selected, the '''Good-Til-Date field''' appears allowing to specify a number of days. | ||
<div style="background-color: #F0F8FF;">After the broker profile is set up, you can select it for trading, see the '''[[How to Select a Broker Account For Trading]]''' guide.</div> | |||
[[Category:Broker Profiles]] | [[Category:Broker Profiles]] |