13.5 Placing Simple Trade Orders
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PLACING SIMPLE TRADE ORDERS
User can place simple and complex trade orders directly on Scalper Book.
All orders placed on Scalper Book will also be logged in the ‘Order Managers’, and it would be reflected on a Chart as long as user would open the same product from the same datafeed.
First of all, user must enable the ‘Trade Mode’ function. Simply click the ‘TRADE’ button on Scalper Book oolbar in order to enable or disable the ‘Trade Mode’ function.
In Single-Mouse button mode user would only need to click the Left mouse button to execute order. In Dual-Mouse button mode mouse buttons execute different type of orders. The Price Tooltip functionality can be very useful for helping users execute the correct trade orders on ScalperBook.
Secondly, user ought to enter desired number of Contract or Lot quantity on the Toolbar Section prior to executing trade every order.
Finally, user can execute single trade orders by executing the following Order Types: Market Orders, Limit Orders, and Stop Orders. In Single Mouse button mode, user would execute a Limit or Stop according to cursor location in relation to the Best Bid or Best Ask prices.
MARKET ORDER
Click either the blue ‘BUY MKY’ or ‘SELL MKT’ buttons in order to execute a Buy or Sell order in order to place a Long or Short position at current market price.
In Single Mouse button mode, platform would offer the option to execute Buy Market or Sell Market whenever user right-click a price point on either the Bid or Ask column.
- TIP:
In Dual Mouse button mode both button would execute the same order
- TIP:
LIMIT ORDER
Single Mouse Button Mode
- SHORT/SELL ORDER on ASK COLUMN
- Position cursor on the Ask Side
- Point cursor Above Current Best Bid Price to execute a SELL LIMIT order.
- Then, click LEFT mouse button at desired price.
- LONG/BUY ORDER on BID COLUMN
- Position cursor on the Bid Side
- Point cursor Below Current Best Ask Price to execute a BUY LIMIT order.
- Then, click LEFT mouse button at desired price.
Dual Mouse Button Mode
- SHORT/SELL ORDER on ASK COLUMN
- Position cursor to Ask Side
- Point cursor to desired price
- Click LEFT button to execute SELL LIMIT order
- LONG/BUY ORDER on BID COLUMN
- Position cursor to Bid Side
- Point cursor to desired price
- Click LEFT button to execute BUY LIMIT order
- Note:
The Price Tooltip function would benefits user when placing trade orders on Scalper Book. Enable it on the Book Options window.
- Note:
STOP ORDER
Single Mouse Button Mode
- SHORT/SELL ORDER on ASK COLUMN
- Position cursor on the Ask Side
- Point cursor Below or On Current Best Bid Price to execute a SELL STOP order.
- Then, click LEFT mouse button at desired price.
- LONG/BUY ORDER on BID COLUMN
- Position cursor on the Bid Side
- Point cursor Above or On Current Best Ask Price to execute a BUY STOP order.
- Then, click LEFT mouse button at desired price.
Dual Mouse Button Mode
- SHORT/SELL ORDER on ASK COLUMN
- Position cursor to Ask Side
- Point cursor to desired price
- Click RIGHT button to execute SELL STOP order
- LONG/BUY ORDER on BID COLUMN
- Position cursor to Bid Side
- Point cursor to desired price
- Click RIGHT button to execute BUY STOP order