Each Stock Box contains order functionality for equities and futures contracts via the Orders window.
The settings and values within the Orders window on the active stock box will impact all equity and futures orders placed via that Stock Box, or via Hot Key combinations. The account number, share size, price, order type, stop price, etc. will all used when an order is placed, even if the Orders window is hidden in the case of an order placed via the Dome View or Hot Keys. To prevent costly errors, do not hide this module when placing orders.
Each of the Orders window fields are explained below (see the figure below for field reference numbers in red):
Account Drop-Down: displays the active account number for the Orders window. Any order entered from this Stock Box (or via Hot Keys while this Stock Box is active) will be placed against this account number. The contents of this drop-down includes all of the accounts to which the user is CURRENTLY logged-in.
Buy Button: click here to send a Buy order using the parameters defined in the other BOT fields.
Cancel Button: click here to send Cancel Requests for ALL open orders for the Symbol active in this Stock Box (e.g. in the figure below clicking the Cancel button would send cancel requests for all open INTC orders).
Sell Button: click here to send a Sell order using the parameters defined in the other BOT fields.
Short Button: click here to send a Short Sell order using the parameters defined in the other BOT fields.
Share Size: enter the desired share size in this field. A default share size will first be displayed in this field depending on the settings contained in the "Orders" section on the Setup Utility (see Section 2.3). Share size can be altered by:
Typing a specific quantity into the field.
Clicking the up and down arrows to the right of the field to adjust the quantity by 100 share increments.
Using the [Up Arrow] and [Down Arrow] keys on the keyboard to adjust the quantity by 100 share increments.
Holding the [Shift] key while using the [Up Arrow] and [Down Arrow] keys to adjust the quantity by increments of 10 shares.
Limit Price: when a non-Market order type is selected from the Type/TIF drop-down (see number 8 below), the Limit Price field is available. By default this field will display the Best Bid price when the symbol is first entered, but the price will not update as the quote moves. Limit Price can be altered by:
Typing in an exact desired price.
Clicking on a price anywhere within the Level II quote display.
Clicking the up and down arrows to the right of the field to adjust the price in $0.01 increments.
Using the [Up Arrow] and [Down Arrow] keys on the keyboard to adjust the price by $0.01 increments.
Holding the [Shift] key while using the [Up Arrow] and [Down Arrow] keys to adjust the price by increments of $0.10.
Order Type/Time In Force: use this drop-down field to select the appropriate Order Type/Time-In-Force setting from the choices as follows:
Market asks the market to fill the order for all requested shares as quickly as possible at whatever the available market price may be.
GTEM Good Through Extended Market - this limit order will remain in effect until the end of the extended market day, which includes after hours trading.
Limit - GTC Good Til Cancel - this limit order will remain in effect until the user cancels the order.
Limit - Day Good For Day - this limit order will remain in effect until the end of the official market hours.
FOK Fill Or Kill - this is a special instruction combining the IOC and "All-or-None" qualifications. It asks that all of the shares in the order be filled in a single transaction (no partial fills), and that the order be filled immediately, at the limit price or better, or killed (cancelled).
IOC Immediate Or Cancel - this instruction indicates that time is more critical than share quantity. It asks the market to fill as much of the order as possible immediately, and then cancel any remaining shares.
S/Mkt Stop Market submits a market order with a Stop Price (or Trigger Price) such that the market order will be activated or triggered only when the Stop Price is reached.
S/GTC Stop Good Til Cancel - submits a limit GTC order with a Stop Price (or Trigger Price) such that the order will be activated or triggered only when the Stop Price is reached.
Stop Limit - S/Day Stop Good For Day - submits a limit Day order with a Stop Price (or Trigger Price) such that the order will be activated or triggered only when the Stop Price is reached.
Market on Open - A market order to be executed as near to the beginning of the exchange day as possible.
Market on Close - A market order to be executed as near to the end of the exchange day as possible.
Main Order Route (Execution Venue): By default this is set to "AUTO", which instructs the QuestraderPRO servers to direct the order to the proper Execution Venue based on the settings contained in the order route table (as set by the brokerage) The default "AUTO" settings are specific to the exchange and order type, but when a user wants to direct an order to a location other than the default, this drop-down is used. Only the venues approved by the users brokerage are listed in the drop-down, and choices may include:
ARCA Archipelago accepts orders for NASDAQ and Listed; accepts market orders; allows sub-routing to other venues and market makers.
BULT Bullets used only for the execution of special married puts called "bullets". Use of this feature requires special permissions at the user and brokerage level.
CARG Cargill execution venue for CME e-Mini Futures contracts only (no equities or options).
ISLD Island ECN provides varying degrees of liquidity in an electronic matching and display environment; allows NASDAQ and listed orders; does NOT accept market orders
ISI ISI/ABN Amro execution for Listed (NYSE/AMEX) only; market and limit orders accepted.
P3 Sungard Phase 3 - execution for NASDAQ and listed; market and limit orders accepted as well as Stop and GTC orders.