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Before getting started to work on financial markets, a trader needs to familiarize with different orders and trading instructions which will be sent to the broker. It is also important to know to prevent traders from making unnecessary mistakes. PTMC platform supports a wide list of trading orders which are sorted by their complexity and by selected brokers: Basic order types and Smart order types.

Such basic order types as Market, Limit and Stop orders are easy to place and execute using PTMC trading platform. These are general orders provided almost by each trading terminal in the financial industry.

  • Market order lets you to immediately place buy or sell order on the market by the current price;
  • A limit order allows to sets the desired price for buying or selling some asset;
  • Stop order lets you enter the market when the price reaches or passes through the set level.

Basic Order Types

Order entry panel is where market or pending orders can be placed. To open the Order entry panel select Terminal -> Order entry. Additionally, Order entry panel can be seen within Chart or simply by right clicking within any open panel and selecting New -> Order entry.

This panel contains the following settings:

  • Account - an account which is used for an order creation;
  • Symbol - an available symbol for a trade;
  • Side - allows to activate Buy or Sell side;
  • Order type - Market, Limit, Stop, Stop limit, Trailing stop, OCO:
  1. The market order is an order to buy or sell a security at the best available price immediately;
  2. Limit order is placed to buy or sell a security at a specified price or better;
  3. Stop order is placed to buy or sell a security when its price surpasses a particular point, thus ensuring a greater probability of achieving a predetermined entry or exit price, limiting the investor's loss or locking in his or her profit;
  4. Stop limit order will be executed at a specified price (or better) after given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better;
  5. OCO is an order stipulating that if one part of the order is executed, then the other part is automatically canceled;
  6. "Sell" trailing stop order sets the stop price at a fixed amount below the market price on the trailing offset. As the market price rises, the stop price rises by the trail amount, but if the stock price falls, the stop loss price doesn't change, and a market order is submitted when the stop price is hit."Buy" trailing stop orders are the mirror image of sell trailing stop orders.
  • TIF - Time-in-force option which allows traders to be more specific about time parameters in which an order is activated. This is especially important for active traders. It can be Day, GTC, IOC, FOK, GTD:
  1. A Day order, as the name implies, is valid for the current trading day;
  2. GTC (Good till cancelled) orders, on the other hand, will remain alive until they are cancelled or the contract expires;
  3. IOC (Immediate or cancel ) requires that all or part of the order be executed immediately after it has been brought to the market;
  4. FOK (Fill or kill) requires to execute the entire transaction immediately and completely or not to execute it at all;
  5. GTD (Good till date) order will be cancelled on specified date if not executed or until the contract expires.
  • Quantity – an amount of lots in which an order is placed. The button  near this field allows to select among default values for Quantity from the drop-down list. The item Edit calls the Types manager panel, allowing to edit the default values.

You can set up set the Stop loss and Take profit directly from the Order entry panel if needed. Also, it is always possible to manage risks by setting trailing stop on the order with the left clicking on a special hook button located near Stop loss. The blue color of the  blue hook  button indicates that the trailing stop is activated.

Order entry panel has two additional sections which display important information: VWAP and Margin.

  • VWAP section - allows displaying VWAP prices section (Bid, Spread, Ask) in the Order entry panel. It shows prices of order executions including slippage effect that will take place depending on order quantity user set.

  • Margin section - allows displaying Margin section in the Order entry panel.

The Margin section is divided on two parts: Risks and Fees.

Risks details section shows all values in account currency:

  • Balance - an account's balance;
  • Available funds – amount of funds for placing new orders;
  • Margin available – available margin for trading;
  • Init. margin – minimum account balance required to open the position;
  • Maint. margin – minimum account balance required to keep this position open;
  • Impact on portfolio – shows impact of the order fill on available funds considering all other positions/orders;
  • After trade funds – shows value of available funds remaining after filling the order:

After trade funds = Available funds + Impact on portfolio - Fee;

  • Blocked for stocks – amount of funds debited from the balance in the case of trading with symbols with Stocks pre-paid margin type;
  • Spread init loss – shows initial loss on the spread:

Spread init. loss = (Ask - Bid) * Tick cost * Qty.

  • P/L per Tick - displays data for Symbols:

P/L per Tick = Tick cost * Qty - if a Symbol type is one of these: Futures, Options, Spreadbet;

P/L per Tick = Tick size * Lot size * Qty * Cross-price - if a Symbol type is NOT one of these: Futures, Options, Spreadbet, Index;

P/L per Tick - no information for Index.

Fees part shows commission for a trade:

  • Per lot – trader pays fee for each lot which was traded;
  • Fill volume – fee calculates on base of the volume of each trade;
  • Per fill – trader pays fee for each fill of the order;
  • Per transaction – trader pays fee for each transaction. Transactions: place an order, cancel an order, and modify an order;
  • Per phone transaction – trader pays fee for each transaction which was made by Phone dealer;
  • VAT – trader pays VAT from each fee operation;
  • Order volume – trader pays fee per each part of order volume that was filled;
  • Total fee – shows summary commission on the trade.

Information of the Margin section can be updated by clicking on "Update margin requirements" link, or by default it is updated every 30 seconds.

PTMC Features

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