Stop Order: Difference between revisions
From MultiCharts
no edit summary
No edit summary |
No edit summary |
||
(2 intermediate revisions by the same user not shown) | |||
Line 3: | Line 3: | ||
A Stop Order will buy or sell a security when its price surpasses a particular level defined by the trader, thus ensuring a greater probability of achieving a predetermined entry or exit price. Stop order becomes a market order when the price reaches the predefined level. | A Stop Order will buy or sell a security when its price surpasses a particular level defined by the trader, thus ensuring a greater probability of achieving a predetermined entry or exit price. Stop order becomes a market order when the price reaches the predefined level. | ||
==Appearance== | |||
Stop Order is displayed as sienna marker on the chart connected to the order price label on the price scale with a dotted line and as sienna marker in the DOM window. | Stop Order is displayed as sienna marker on the chart connected to the order price label on the price scale with a dotted line and as sienna marker in the DOM window. | ||
Line 11: | Line 11: | ||
For the DOM window, default Stop Order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu. | For the DOM window, default Stop Order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu. | ||
==Creating Stop Order== | |||
Create Stop Order by one of the following methods: | Create Stop Order by one of the following methods: | ||
* Drag-and-drop the Stop Order icon | * Drag-and-drop the Stop Order icon [[File:STOPE.png]] to the '''chart'''; or: | ||
* Drag-and-drop the Stop Order icon | * Drag-and-drop the Stop Order icon [[File:STOPE.png]] to the desired price level in '''Sell''' or '''Buy''' columns of the '''DOM window'''; or: | ||
* Right-click at the desired price level in Sell or Buy columns of the DOM window to see the shortcut menu, then select '''Buy / Sell Stop …'''; or: | * Right-click at the desired price level in '''Sell''' or '''Buy''' columns of the '''DOM window''' to see the shortcut menu, then select '''Buy / Sell Stop …'''; or: | ||
* Right-click at the desired price level on the chart to see the shortcut menu, select '''Place Order''' and then click '''Buy / Sell Stop…'''; or: | * Right-click at the desired price level '''on the chart''' to see the shortcut menu, select '''Place Order''' and then click '''Buy / Sell Stop…'''; or: | ||
* Right-click the Stop Order icon | * Right-click the Stop Order icon [[File:STOPE.png]] in the '''Place Order''' menu to see the shortcut menu and click '''Apply Strategy''' ('''Buy Stop''' order at '''Ask''' price will be created). | ||
* Double-click the Stop Order icon | * Double-click the Stop Order icon [[File:STOPE.png]] in the '''Place Order''' menu ('''Buy Stop''' order at '''Ask''' price will be created). | ||
<div style="background-color: #E3FBE5;">Note: Chart is context-sensitive and allows creating Buy or Sell orders depending on the price level at which you click on the chart. If you right-click above current price level, Buy Stop option will be available in the shortcut menu. If you right-click below current price level, Sell Stop option will be available in the shortcut menu. Right-clicking on the current price level makes both Buy Stop and Sell Stop options available. </div> | <div style="background-color: #E3FBE5;">Note: Chart is context-sensitive and allows creating Buy or Sell orders depending on the price level at which you click on the chart. If you right-click above current price level, Buy Stop option will be available in the shortcut menu. If you right-click below current price level, Sell Stop option will be available in the shortcut menu. Right-clicking on the current price level makes both Buy Stop and Sell Stop options available. </div> | ||
==Stop Order Parameters== | |||
Order Size is defined by '''Qty''' field (see [[Chart Trading##Setting Order Quantity|Setting Order Quantity]]). | Order Size is defined by '''Qty''' field (see [[Chart Trading##Setting Order Quantity|Setting Order Quantity]]). | ||
Line 33: | Line 33: | ||
Check the '''Do not ask me again''' check box to disable '''Place Order confirmation''' window. | Check the '''Do not ask me again''' check box to disable '''Place Order confirmation''' window. | ||
<div style="background-color: #E3FBE5;">Note: When Require Order confirmation option is disabled no confirmation window will appear.</div> | <div style="background-color: #E3FBE5;">Note: When Require Order confirmation option is disabled no confirmation window will appear.</div> | ||
[[Category:Orders and Strategies]] | [[Category:Orders and Strategies]] |