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http[[File://www.multicharts.com/img/wiki/charttrading/1.png]]
http[[File://www.multicharts.com/img/wiki/charttrading/11.png]]
http[[File://www.multicharts.com/img/wiki/charttrading/12.png]]
Simulated 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.
See [[<categorytree mode=pages showcount="on" depth=2>Orders and Strategies]].</categorytree>
'''Require Order confirmation''' – when enabled, the confirmation window will be shown every time you place an order '''Show Open Positions''' – enables/disables active positions indication on the chart.
Connecting To configure order markers size you should change Status Line Length font size: right- modifies click on the chart to see the length of shortcut menu, click Format Window, select the line connecting order marker Status Line tab and price label on the price scalemodify Font Size.
To 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.
Order/Strategy Color RED GREEN BLUEBreakeven Strategy Yellow 255 255 0Breakout Down/Fade Strategy DarkCyan 0 139 139Breakout Strategy MediumPurple 147 112 219Breakout Up/Fade Strategy Sienna 160 82 45Buy/Sell Limit Lime 30 255 0Buy/Sell Stop Sienna 160 82 45Buy/Sell Stop Limit Magenta 255 0 255Fade Strategy OliveDrab 107 142 35Stop Loss Strategy Maroon 128 0 0Profit Target Strategy Green 0 255 0Trailing Stop Strategy Orange 255 165 0[[File:13.png]]
no edit summary
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.
==Show/Hide Chart Trading Panel==
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'''.
==Selecting Broker==
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]]
==Connecting / Disconnecting Broker Profile==
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]]
==Selecting Account ==
Profit and Loss can be indicated in:
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]].
Click the PnL Marker to change indication type.
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.
==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 [[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.
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.
<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>
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.
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'''
All Entry Strategies are placed with OCO-orders.
There are two types of OCO-groups in MultiCharts: Native and SimulatedEmulated.
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 and FXCM).
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]]==
==Setting Order Quantity==
Set order quantity by one of the following methods:
* Type in order quantity in Order Quantity box http[[File://www.multicharts.com/img/wiki/dom/10(1).png ]] in Chart Trading; or:* Click the Trading Calculator button http[[File://www.multicharts.com/img/wiki/dom/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 left 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'''.
* Select Common Settings tab
'''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 ==
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 sizehide "Price and Type" and/or "Quantity and Direction" information for historical orders set style to "Invisible" in the corresponding lines.
'''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'''
==Accessing Performance Report==
* Connect a Broker Profile.
* Make sure that the chart shows historical trades.
* In the menu select View then click Strategy Trading Performance Report.
[[Category:Manual Trading]]
