ATC Trader User Guide

Contents: Show all | Close all  Main Window  Main Window Overview  Customize Windows  Main Window Profile  Contract Setup  Trade Reports  Order Placement  Order Types  DOM  Launch DOM  Menu Icons  DOM Profile  Market Order  Limit Order  Stop Order  Stop Limit Order  Trailing Stop Order  OCO Order  OSO Order  Bracket Order  Multiple Bracket Order  Scale In/Out Order  Breakeven Order  AOE  Launch AOE  AOE Profile  ROE  Launch ROE  ROE Profile  TOE  Launch TOE  TOE Profile  Charting Features  Launch Chart  Menu Icons  Chart Profile  Indicators  Indicator Setup  Customize Charts  Trade Mode  Market Order  Limit Order  Stop Order  Stop Limit Order  Trailing Stop Order  Bracket Order  Multiple Bracket Order  Advanced Features  Automation  Block Trading  Trade from Excel  Custom Indicators  General  Analysis Library  Analyze Techniques  Indicator Library  .NET Indicator Framework  EasyLanguage  Samples  Glossary  Troubleshooting  Installation  Connectivity & Login  Contact Support  FAQ's  Main Window  DOM  Charts  Advanced Features  Request Demo  Glossary

Order Placement - Order Types Order types Market (MKT) Orders to buy/sell at the best possible price as soon as possible. They are the first orders to be filled at any given price, and are used to enter or exit the market quickly, regardless of the current price. Limit (LMT) Orders generally used to buy/sell at a specified price, or better. They don’t move once the limit price has been reached, i.e., they do not become MKT orders. Stop (STP) Orders are traded only when the MKT price trades at or “through” the STP price. a. Buy STP orders is placed above the current MKT price and is transformed into a MKT order when the futures price trades or is bid at or above the STP price b. Sell STP order is placed below the current MKT price, and is transformed into a MKT order when the futures price is traded or is offered at or below the stop price Stop Limit (STP LMT) Orders are used like STP orders, but execution is restricted to the limit price or better. They do not become MKT orders once the STP price has been reached. No order can be guaranteed an execution. a. Buy STP LMT is activated when the commodity is bid or traded at or above the STP level, the order will not be filled unless the price remains at or drops below the limit level b. Sell STP LMT is activated when the commodity is offered or traded at or below the STP level, the order will not be filled unless the price remains at or rises above the limit level Market If Touched (MIT) Similar to STP orders in two ways: 1. They are activated when the price reaches the order level 2. They become MKT orders once they are activated MIT orders are used differently from STPs. Buy MIT below the MKT price to establish a long position. Sell MIT above the MKT price to establish a long position. MIT orders are not allowed on CBOT but are used on CME. Market To Limit (MKT2LMT) Market On Open (MOO) A buy or sell order in which the broker is to execute the order at the market's opening. It does not guarantee the trade will be executed at the listed opening price, but the trade will be executed within a range of prices, or not at all. Market On Close (MOC) A buy or sell order which is to be executed as a market order as close as possible to the end of the day. Market On Pit Open (MOOPit) This order type is similar to the MOO however it only applies to electronic contracts that have corresponding pit contracts. Electronic contracts can be placed MOOPit if traders want the contract to be traded at the opening of the Pit for the corresponding pit contracts opening. i.e. ES has a next day opening of 4:30 EST but if a trader places a MOOPit type then the order will be placed when the S&P opens at 9:30 am EST Market On Pit Close (MOCPit) This order type is similar to the MOC however it only applies to electronic contracts that have corresponding pit contracts. Electronic contracts can be placed MOCPit if traders want the contract to be traded at the closing of the Pit for the corresponding pit contracts close. Trailing Stop Loss (TrSTP) A complex stop-loss order in which the stop loss price is set at some fixed percentage below the market price. If the market price rises, the stop loss price rises proportionately, but if the stock price falls, the stop loss price doesn't change. This technique allows an investor to set a limit on the maximum possible loss without setting a limit on the maximum possible gain, and without requiring paying attention to the investment on an ongoing basis. Trailing Stop Limit (TrSTP LMT) Place a TrSTP which is a complex stop-limit order in which the stop limit price is set at some fixed percentage above or below the market price. If the market price falls or rises, the stop loss price fall or rise proportionately, but if the stock price rises or falls, the stop limit price doesn't change. This technique allows an investor to set a limit on the maximum possible loss without setting a limit on the maximum possible gain, and without requiring paying attention to the investment on an ongoing basis. Once the TrSTP has been activated at or above/below depending on the SIDE the commodity was traded; the order will not be filled unless the price remains at or drops/rises in relation to the LMT level. Order Flags Good Till Cancelled (GTC) Order remains on the books until cancelled and can be filled at an undesirable time if forgotten Fill or Kill (FOK) LMT orders which, if not filled immediately, are cancelled Immediate or Cancel (IOC) LMT orders which, if not filled immediately, are cancelled Iceberg A large single order that has been divided into smaller lots, usually by the use of an automated program, for the purpose of hiding the actual order quantity. When large participants, such as institutional investors, need to buy and sell large amounts of securities for their portfolios, they can divide their large orders into smaller parts so that the public sees only a small portion of the order at a time--just as the 'tip of the iceberg' is the only visible portion of a huge mass of ice. By hiding its large size, the iceberg order reduces the price movements caused by substantial changes in a stock's supply and demand.