Difference between revisions of "Chart Trading"

From MultiCharts
Jump to navigation Jump to search
Line 1: Line 1:
 
The chart trading panel allows placing manual orders directly from a chart. The chart is cursor-sensitive, so right-clicking on the chart will create an order at the price level you clicked on. Orders can be also dragged and dropped directly to a specific price on the chart.
 
The chart trading panel allows placing manual orders directly from a chart. The chart is cursor-sensitive, so right-clicking on the chart will create an order at the price level you clicked on. Orders can be also dragged and dropped directly to a specific price on the chart.
  
You can send single orders and entire strategies using the methods described above. MultiCharts supports simple single orders, One-Cancels-Other order groups (OCO), as well as automated entry and exit strategies. The Entry Automation and Exit Automation strategies can be applied by drag-and-drop or by right-clicking to individual orders, and entire positions (See Place Order and Exit Strategies).  
+
You can send single orders and entire strategies using the methods described above. MultiCharts supports simple single orders, One-Cancels-Other order groups (OCO), as well as automated entry and exit strategies. The Entry Automation and Exit Automation strategies can be applied by drag-and-drop or by right-clicking to individual orders, and entire positions (see [[Orders and Strategies]]).  
  
 
Orders can be changed or cancelled by right-clicking them and choosing the appropriate option in the shortcut menu or from the Chart trading panel itself. Strategy levels (such as profit target and stop loss) can also be easily changed and moved around. Strategy names are shown on the appropriate levels, showing where the orders came from.
 
Orders can be changed or cancelled by right-clicking them and choosing the appropriate option in the shortcut menu or from the Chart trading panel itself. Strategy levels (such as profit target and stop loss) can also be easily changed and moved around. Strategy names are shown on the appropriate levels, showing where the orders came from.
Line 53: Line 53:
 
==Place Order==
 
==Place Order==
  
Place Order menu allows you to place Stop, Limit and Stop-Limit orders as well as to automate certain methods of entering or exiting positions (see [[Orders and Strategies]]. It’s perfect for avoiding repetitive tasks, increasing your productivity and focusing on trading. Automation is especially useful when you need to apply an order pair quickly.
+
Place Order menu allows you to place Stop, Limit and Stop-Limit orders as well as to automate certain methods of entering or exiting positions (see [[Orders and Strategies]]). It’s perfect for avoiding repetitive tasks, increasing your productivity and focusing on trading. Automation is especially useful when you need to apply an order pair quickly.
  
 
http://www.multicharts.com/img/wiki/charttrading/12.png
 
http://www.multicharts.com/img/wiki/charttrading/12.png

Revision as of 14:56, 17 February 2012

The chart trading panel allows placing manual orders directly from a chart. The chart is cursor-sensitive, so right-clicking on the chart will create an order at the price level you clicked on. Orders can be also dragged and dropped directly to a specific price on the chart.

You can send single orders and entire strategies using the methods described above. MultiCharts supports simple single orders, One-Cancels-Other order groups (OCO), as well as automated entry and exit strategies. The Entry Automation and Exit Automation strategies can be applied by drag-and-drop or by right-clicking to individual orders, and entire positions (see Orders and Strategies).

Orders can be changed or cancelled by right-clicking them and choosing the appropriate option in the shortcut menu or from the Chart trading panel itself. Strategy levels (such as profit target and stop loss) can also be easily changed and moved around. Strategy names are shown on the appropriate levels, showing where the orders came from.

Active orders are shown in a bright color, while dependent inactive orders (wait for the active order to be filled before becoming active) are shown in transparent colors. Changing the size, or the price, of the parent order will automatically recalculate and update the dependent orders.

1.png

Show/Hide Chart Trading Panel

To show/hide chart trading panel, click the Chart Trading Panel button 2.png at the top-right corner of the chart.

Selecting Broker

To select a broker, click the arrow on the Broker Connection button 3.png and select a broker in drop-down menu.

For more info see Broker Profiles

Connecting / Disconnecting Broker Profile

When a broker is selected, click the Broker Connection button 3.png to connect or disconnect it.

For more info see Broker Profiles

Selecting Account

Select the account number in the Account Selector box 4.png.

PnL and Current Position

Current Position and Profit and Loss are indicated in the PnL and Current position box on the Chart Trading Panel and on the PnL Marker on the chart. Positive value (profit) is colored green, negative value (loss) is colored red.

Profit and Loss can be indicated in: Ticks 5.png, percents 6.png and dollars 7.png.

To change indication type, click the PnL and Current position box. Current Ask and Bid prices are indicated below. On the chart the Profit and Loss can be also indicated in: Dollars 9.png, Ticks 10.png, Percent 8.png.

Click the PnL Marker to change indication type.

Current Position is marked with red or blue color. Long position is colored blue. Short position is colored red.

One-click order placing

Chart Trading panel provides the opportunity of one-click order placing.

Buy or Sell Market orders can be sent by pressing Buy Mkt and Sell Mkt buttons. Buy Ask, Buy Bid & Sell Ask, Sell Bid buttons send buy and sell limit orders at ask and bid prices respectively.

11.png

Place Order

Place Order menu allows you to place Stop, Limit and Stop-Limit orders as well as to automate certain methods of entering or exiting positions (see Orders and Strategies). It’s perfect for avoiding repetitive tasks, increasing your productivity and focusing on trading. Automation is especially useful when you need to apply an order pair quickly.

12.png

Place Order menu strategies give you competitive advantage over other traders: they allow you to exit the position faster than others. They also reduce the risk of two orders execution and would be especially useful for traders who use pyramiding strategies. Each strategy is an OCO group – if one order is filled, the other is canceled.

Note: Not all brokers support server-based OCO groups. Consequently, there is no 100% guarantee that only one order will be executed (See OCO-Orders Risk)

Orders and Entry Strategies are shown as icons on the Chart Trading panel and can be easily applied to the chart. You can visually change the order levels, which saves a lot of time when managing your orders.

The icons are rearranged automatically: the last used icon is displayed in the top left corner of the menu.

To expand or collapse the Place Order menu, use the Expand/Collapse buttons.

To scroll icons in the Place Order menu, use the Scroll buttons.