Changes

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).

http[[File://www.multicharts.com/img/wiki/charttrading/1.png]]

To show/hide chart trading panel, click the Chart Trading Panel button http[[File://www.multicharts.com/img/wiki/charttrading/2.png ]] at the top-right corner of the chart.  ==Full and Compact Modes== To switch to Full/Compact Mode, right-click on the chart trading panel and click '''Switch to Full/Compact Mode'''.

To select a broker, click the arrow on the Broker Connection button http[[File://www.multicharts.com/img/wiki/charttrading/3.png ]] and select a broker in drop-down menu.

For more info see [[Broker ProfilesOverview]]

When a broker is selected, click the Broker Connection button http[[File://www.multicharts.com/img/wiki/charttrading/3.png ]] to connect or disconnect it.

For more info see [[Broker ProfilesOverview]]

Ticks http[[File://www.multicharts.com/img/wiki/charttrading/5.png]], percents http[[File://www.multicharts.com/img/wiki/charttrading/6.png ]] and dollars http[[File://www.multicharts.com/img/wiki/charttrading/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 http[[File://www.multicharts.com/img/wiki/charttrading/9.png]], Ticks http[[File://www.multicharts.com/img/wiki/charttrading/10.png]], Percent http[[File://www.multicharts.com/img/wiki/charttrading/8.png]].

http[[File://www.multicharts.com/img/wiki/charttrading/11.png]]

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 [[Chart Trading#Orders and Strategies|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[[File://www.multicharts.com/img/wiki/charttrading/12.png]]

<div style="background-color: #E3FBE5;">Note: Not all brokers support server-based OCO groups. Consequently, there is no 100% guarantee that only one order will be executed (See see [[Trading Risks# OCO-Orders Risk|OCO-Orders Risk]]).</div>

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. To select Exit Strategies '''Average Open Position Price''' calculation mode: #Select '''File''' in the main menu, click '''Preferences''', select the '''Trading''' tab #Enable the '''recived from broker''' button to use the price received from broker or the '''calculated based on order(s) execution price''' button to use the price calculated by MultiCarts based on entry order(s) execution price. '''Exit Orders Management''' Exit strategies applied to an open position change the number of contracts according to the current position size.  Exit strategies applied to active orders do not change number of contracts regardless of the open position size (do not "jump" onto the active position after the parent order was filled). They remain active and keep protecting orders that were generated by the parent order.  Number of contracts for exit strategies applied to the open position changes taken into account strategies applied to filled orders and their effect on the overall position. In other words, strategies applied to the position protect the remainder that is not protected by strategies applied to individual orders.  If a position was opened by an order that has an exit strategy attached from a flat position, then this strategy is applied to the entire position and “protects” it (see Example 2 below). Exit strategies applied to positions and strategies applied to orders are visually different on both on the chart and in the DOM: exits strategies applied to positions have “p” letter to the left of the number of contracts. <div style="background-color: #E5F6FF;">Example 1 - Shows exit strategy attached to an individual order: # Open position is -1 contract.# Sell limit order for 1 contract is sent to broker. # Profit Target exit strategy is attached to the sell limit order.# Sell limit order is filled. Profit Target becomes active. Open position is -2 contracts. Profit Target size is 1 (attached to the order, not the position).# Sell market order for 2 contracts is sent to broker.# Sell market order is filled. Open position is -4 contracts. Profit Target size is 1.</div> <div style="background-color: #E5F6FF;">Example 2 - Shows exit strategy auto-attached to an order opening the position from a flat position: # Open position is flat.# Buy market order for 100 contracts with a Master Strategy auto attached to it is sent to broker. # Buy market order is filled. Master Strategy becomes active. Open position is +100 contracts. Master Strategy size is 100.# Buy stop order for 200 contracts is sent to broker.# Buy Stop order is filled. Open position is +300 contracts. Master Strategy size is 300 (protects entire position since the position was opened by an order that has an exit strategy attached from a flat position).</div> <div style="background-color: #E5F6FF;">Example 3 - Shows exit strategy attached to the entire position: # Open position is +50 contracts.# Buy market order for 100 contracts with a Master Strategy auto attached to it is sent to broker. # Buy market order is filled. Master Strategy becomes active. Open position is +150 contracts. Master Strategy size is 100 (attached to the order, not the position).# Buy stop order for 200 contracts is sent to broker.# Buy Stop order is filled. Open position is +300 contracts. Master Strategy size is 300(attached to the position).</div> <div style="background-color: #E5F6FF;">Example 4 - Shows both exit strategy attached to the entire position and exit strategy attached to an individual order:  # Open position is +10 contracts. # Stop-Loss #1 exit strategy is applied to the open position. Stop-Loss #1 size is 10. # Buy stop order for 5 contracts is sent to broker. # Stop-Loss #2 exit strategy is applied to the buy stop order. Stop-Loss #2 size is 5.# Buy stop order is filled. Stop-Loss #2 becomes active. Open position is +15 contracts. Stop-Loss #1 size is 10. Stop-Loss #2 size is 5.# Buy market order for 10 contracts is sent to the broker. # Buy market order is filled. Open position is +25 contracts. Stop-Loss #1 size becomes 20 (attached to the position). Stop-Loss #2 size is 5 (attached to the order, not the position).</div> '''OCO-Orders''' One Cancels Other (OCO) orders are the price orders sent in a group. When any of OCO orders is filled or partially filled, the system cancels or reduces size of other orders in this OCO-group. <div style="background-color: #E3FBE5;">Note: Reduce size functionality is supported by Interactive Brokers only: if one order in OCO group is partially filled, others are reduced in size proportionally. </div> All Entry Strategies are placed with OCO-orders. There are two types of OCO-groups in MultiCharts: Native and Emulated.  Native OCO-group is used when the broker’s API supports OCO-groups. In this case all OCO orders are sent to the broker directly and unfilled OCO orders will be cancelled by the broker. (Native OCO-group is supported by Interactive Brokers).  Emulated OCO-group means that all OCO orders will be sent to the broker, but once one of them is filled, other orders from this OCO group will be cancelled by MultiCharts. In this case, when one of the OCO orders is filled, MultiCharts will send a command to cancel or reduce size of the second OCO order to the broker.  Please note that in case of high market volatility there may be not enough time to cancel the order and therefore both orders may be filled. Both orders also may be filled in the unlikely event of crash or connection loss. All OCO-orders of the same group will have the same OCO-ID. You may check it in the Orders tab of the [[Order and Position Tracker]] window. ==Orders and Strategies== <categorytree mode=pages showcount="on" depth=2>Orders and Strategies</categorytree> ==Setting Order Quantity== Set order quantity by one of the following methods:* Type in order quantity in Order Quantity box [[File:10 (1).png]] in Chart Trading; or:* Click the Trading Calculator button [[File:11 (1).png]].  Calculator automatically increases the current trade size setting by one, e.g. if you had 1 in order quantity field, calculator would automatically make it 2.  You can modify the number of contracts by pressing +1, +2, +5 etc. buttons. '''Zero''' button resets the number of contracts to zero.  Buttons on the right side of the calculator contain 6 last values.  You may set this number of contracts by pressing those buttons. To apply the modifications click OK, to cancel the modifications click '''Cancel'''. ==Setting Time in Force== To set time in force of the order, use the '''Time in Force''' box in '''Chart Trading''' panel. * DAY – Good for one day* GTC – Good ‘Til Cancelled* GTD – Good To Date * IOC – Immediate or Cancel Order ==Order Modification== Order modification allows adjusting price level and changing the quantity of the order that has not been filled yet.  '''Adjusting price levels''' To modify order price, drag the order marker on the chart and drop it to the desired price level. When you drag the order with the mouse, it shows the difference between the actual position of the cursor and Bid or Ask price while you hold left button. If you move the order somewhere between Bid and Ask on the price scale, it shows you current spread value changing dynamically.  To cancel the price level adjustment, press Esc before releasing left mouse button. To modify the length of the line connecting order marker and price label on the price scale see Chart Trading Settings. '''Changing Quantity''' Change quantity of the order by one of the following methods:* Right-click the order marker on the chart to see the shortcut menu, select Change Quantity and select the quantity; or:* Click on volume value on order marker on the chart and modify the quantity in Trading Calculator (see Trading Calculator) <div style="background-color: #E3FBE5;">Note: Unlike DOM, in Chart Trading the orders with the same price levels can be moved and modified separately (without joining the orders into one group) by drag-and-drop. If you want to cancel the price level adjustment, press Esc before releasing left mouse button.</div> ==Cancelling orders== Cancel separate threads or the order/strategy completely by one of the following methods:* Click on the Close button on order/strategy marker; or:* Right-click the order marker on the chart to see the shortcut menu and select Cancel Order. To cancel multiple orders at a time orders use Cancel Asks, Cancel Bids and Cancel All buttons. The Cancel Asks button cancels all pending buy orders. The Cancel Bids button cancels all pending sell orders. The Cancel All button cancels all pending orders. ==Close position== Close the position by one of the following methods: * Right-click the order marker on the chart to see the shortcut menu and click Close Position; or:* Click on the Close button on Chart Trading Panel;or:* Click on the Close button on the position marker.  Closing the current position cancels all pending orders.  ==Reverse position==Reverse the position by one of the following methods:* Right-click the order marker on the chart to see the shortcut menu to call context menu and select Reverse Position; or:* Click the Reverse button on Chart Trading panel; or:* Click the Reverse button at the right side of position marker on the chart.  Reverse closes the current position with market order, cancels all pending orders and sends market order to open the position in opposite direction for the same number of contracts. ==Chart Trading Settings== To configure Chart Trading Settings:  * Open Format Chart Trading window by one of the following methods:** Right-click on the chart to see the shortcut menu, then click Format Chart Trading…; or** Right-click on the Chart Trading panel to see the shortcut menu, then click Format Chart Trading…; or** Click the Format tab in the main menu and then click Chart Trading.* Select Common Settings tab '''Show Open Positions''' – enables/disables active positions indication on the chart '''Show Historical Orders''' – enables/disables historical orders indication on the chart '''Show Active orders''' – enables/disables active orders indication on the chart '''Show Trade Panel''' – shows/hides Trade Panel '''Show Best Bid & Best Ask''' – enables/disables indication of Best Bid & Best Ask in Trade Panel '''Stop Limit Offset''' – allows setting default Stop Limit offset with spin-box '''PnL Display Unit''' – allows selection of PnL indication type (Currency, Point, Percent) '''Use as Default''' – saves the settings as Default. All subsequently created charts will use the same settings ==Appearance == To configure visual parameters of Chart Trading orders: * Open Format Chart Trading window by one of the following methods:** Right-click on the chart to see the shortcut menu, then click Format Chart Trading…; or** Right-click on the Chart Trading panel to see the shortcut menu, then click Format Chart Trading…; or** Click the Format tab in the main menu, then click Chart Trading.* Select Historical Orders tab or Active Orders and Positions tab  '''Historical Orders''' Select one of the standard 40 colors from the palette box, or click Other to use custom colors for the key components of historical orders markers.  Change the style and the size of the components using 28 custom vertical and horizontal arrows and 7 custom sizes.  To configure order markers size you should change Status Line font size: right-click on the chart to see the shortcut menu, click Format Window, select the Status Line tab and modify Font Size. To hide "Price and Type" and/or "Quantity and Direction" information for historical orders set style to "Invisible" in the corresponding lines.  '''Active Orders and Positions''' Select one of the standard 40 colors from the palette box, or click Other to create custom colors for the Active Orders and Positions.  Change style and weight of connecting lines using 5 custom line types and 7 custom weights. Connecting Line Length - modifies the length of the line connecting order marker and price label on the price scale.  <div style="background-color: #E3FBE5;">'''Note''': It is possible to change colors and weight for market positions, stop orders, limit orders and stop-limit orders, however it is not possible to change colors of the exit strategies for manual trading (see below).</div><br> '''Default Active Order Colors''' [[File:13.png]] ==Accessing Performance Report==

'''To scroll icons in access a Strategy Performance Report:'''* Apply a strategy to a chart. * In the Place Order menu, use the Scroll buttonsselect View then click Strategy Performance Report.