Order Entry

Order Types

· Synthetic orders

· OCO Orders

· Setting Order Types for P/L on Trade Window

· Setting Second Part of Stop Limit Price

· Using MultiBrackets

· Using Single Brackets

Table for Placement of Order Entries

Code Letters with Profit/Loss Targets Explained

· Profit and Loss Orders placed from Trade Window with “Use MultiBrackets” unchecked

· Profit and Loss Orders placed from Trade Window with “Use MultiBrackets” checked

· Profit and Loss Orders placed from Multiple Order Targets Window

Limit Orders

· Placing Buy/Sell Limit Order

· Cancel/Amend Limit Order

Stop Limit Orders

· Placing Stop Limit Orders

· Cancel/Amend Stop Limit Orders

Stop# and MIT# Orders

In TradeMaven, all orders are entered via the Trade Window. Depending on the

exchange you can enter the following types of orders

CME (Globex2 )

1. Limit

2. MIT#

3. Stop (GTD - Good ToDay)

4. StopLimit

5. Stop#

6. StopLimit#

eCBOT

1. Limit

2. MIT#

3. Stop#

If the order type has a “#” with it that means it is a synthetic order and is held

on your computer. If your computer has a problem then the exchange will not

receive your order when that price is hit because your computer has to send the

order at that time. Your order is invisible to others - it would not be included in

market depth.

Synthetic orders placed from the Multiple Order Target window have an “s” in front of the order type. For example a synthetic Limit would be “sL” and a synthetic stop that was not a BreakEven stop would be “sS”. The other feature of a synthetic stop on your Trade Window is that the background tab behind the synthetic order will be white.

If the order does not have the “#” then that means that the order goes directly to the exchange and it will not matter if your computer has a problem. If there is a waiting line for orders at a particular price this will put your order in that queue. Your order would be included in the market depth.

Orders that are resting on the exchange will have a color behind the order on the Trade Window - either a blue for a buy order or a red for a sell order.

With the OCO (One Cancels Other) orders you will have 2 orders sitting at the exchange (unless you are using synthetic orders). Your computer must send the cancellation for the second part of your OCO order. For example if your stop loss was hit first your computer would have to send a message to the exchange to cancel your profit target.

If you place a synthetic order with a “#” and call your broker and he would not see your order. If you place an order without the “#” and call your broker he should see your order.

No orders are saved on TradeMaven servers. It is either on your computer or at the exchange you are trading.

Open Application Options and set up trading preferences.

1) Select Options: Application Options menu item.

Under “Auto Profit/Loss (Trade Window Sensitive)” you must choose a

Profit order type and a Loss order type. You can choose the order type from

the drop down menu below the “Profit” and the “Loss”.

If you choose any type of “Stop Limit” you must set the number of “Ticks” below your order entry for the limit part of the “stoplimit” order. So StopLimit is composed of a Stop order (Market) and a Limit order (must be price2 or better).

For example if you had a stop limit placed at 1100 with “Ticks” set at 10 then you are telling the exchange that you except a fill at either your price or 10 ticks away from your price. But you will not accept a stop loss more than 10 ticks away from your price. (The order types set for Profit and Loss in Application Options ONLY apply to Profit/Loss targets placed from the Trade Window.)

1. In the Dome/Orders tab you have the choice of

a. New Order on Amend

If this option checked if you have a limit order sitting on the Trade

Window and want to add more contracts to that limit order at the same

price, TM will add the additional contracts as a new order. This will allow

you will keep your place in line on the exchange with the first limit

order. The new contracts will be added at the same price but will be in a

different place in line on the exchange.

If you leave this option unchecked then when you add more contracts to

an existing limit order it will amend your original order and you will lose

your original place in line at the exchange. Now your total order will be added to the end of the line in the exchange when the new order is

placed.

b. Confirm Order Entry

Check this box if you want a confirmation window to appear prompting

you to buy/sell before the order is actually placed or to cancel.

Uncheck this box if you want the order to be placed immediately without any prompt to confirm.

c. Color Dome on Fill - Check this box if you want the Trade Window background color to change to blue when a long position is established or red when a short position is established.

Uncheck this box if do not want any Trade Window background to change

indicating whether you are currently in a long or short position.

d. Use Multi Brackets

Check this box if you want to involve multiple brackets when you place

your order. This mainly applies to trades with Profit/Loss targets placed

via the Trade Window. You can place multiple order targets from the

Multiple Order Target Window (Trading: Strategies: Multiple Order

Targets) with this checked or unchecked.

When using the Profit/Loss from the Trade Window with “Use MultiBrackets” checked your orders Profit targets will have “a ML” in front of the lot size and the Loss Target will have “a MS” in front of the lot size.

If “Use MultiBrackets” is unchecked the Profit target placed from the Trade Window will have “a L” in front of the lot size and the Loss target will have “a S” in front of the lot size.

If “Use MultiBrackets” is unchecked when you Scale In a new Position your new Profit target will automatically be added to the existing Profit target on the Trade Window. The new Loss target will automatically be added to the existing Loss target. There will always be just ONE Profit target and ONE Loss Target creating a SINGLE bracket around your entry price.

e. Audio Off

Check this box if you do not wish to hear any audible confirmation of your order placement and fills. You select the different Sounds for Order fill types under Options: Application Options: Sounds.

Profit and Loss Orders placed from Trade Window with “Use MultiBrackets” unchecked will show “aL” for the Profit target and “aS” for the Loss target regardless of order type set in Application Options window:

Profit and Loss Orders placed from Trade Window with “Use MultiBrackets” checked will show “aML” for the Profit target and “aMS” for the Loss target regardless of order type set in Application Options window:

If the order is a synthetic order then there will be no color behind the order. If the order is being held on the exchange there will be a blue color behind buy orders and a red color behind sell orders.

For more detailed instructions on placing various types of orders please see below.

Limit Orders

Note: In the following snapshots the “Confirm Order Entry Box” is checked. If it is unchecked your order will be placed immiediately without the small confirmation window popping up when you click on the Trade Window to place your order.

Also all the Profit and Loss Targets were set up in the Multiple Order Targets Window so the code Letters next to the price show the Profit and Loss order types set up in MOT.

To enter a buy limit order, left-click below the currently traded price in the blue bid column. If you have Confirm Order Entry option checked, a blue confirmation box will pop up. Click “BUY” to send the order to the exchange or “Cancel” to Cancel.

After you have decided to submit the order(s), the Trade Window show that they have been placed as working order at the price level you have indicated.

To enter a sell limit order, left-click above the currently trade price in the red off (ask) column. If you have Confirm Order Entry option checked, a red confirmation box will pop up. Click “Sell” to send the order to the exchange or “Cancel” if you change your mind.

After you have decided to submit the order(s), the Trade Window will show that they have been placed as working order(s) at the price level you have indicated.

Once the market trades at or through the limit price (buy or sell) and produces a fill, TradeMaven will report and reflect that event by color coding the fill price (blue for long and red for short) and if the Color Dome on Fill is checked, then the entire Trade Window background will change color.

You can cancel any individual working order by clicking on the “X” next to the working order tag or you can cancel all your placed order by clicking on the Cancel All button at the bottom left of the Trade Window.

You can also cancel your order from the Order View window.

To cancel/replace (amend) the price of the working Limit order left-click on the desired working order tag and drag-and-drop to a new price level.

To cancel/replace (amend) the lot size of the working Limit order, right-click on the working order tag. A mini pop-up window of lot size ladder will appear. Scroll up or down the ladder and click-select the new lot size to amend (or click on the Cancel to cancel this particular operation)

Please Note: that if you enter a buy limit order above the currently traded price in the blue BUY/bid column or if you enter a sell limit order below the currently traded price in the red SELL/ask column, that order will be executed as a market order.

StopLimit and StopLimit# Orders

The difference between StopLimit and StopLimit# order is that the former is submitted directly to and is resting on Globex as a working order while the latter is a synthetic order sitting on and is held in your computer within TradeMaven. A StopLimit order will be triggered by Globex when the market trades at the Stop price. A StopLimt# will be triggered by TradeMaven when the market trades at the Stop price and then be sent to the exchange for execution.

To enter a sell StopLimit (or sell StopLimit#) order, right-click on a price below the currently traded price in the blue bid column. This price will be the Stop portion of your StopLimit order. A mini menu of order choices will appear. Select StopLimit (StopLimit#) from the menu.

Once you have done that, another mini price ladder window will pop op asking you to select the price which is your Limit portion of the StopLimit order.

You can make the Limit price to be the same or higher than your buy Stop price.

A StopLimit order gets triggered on the Stop price and becomes a Limit order awaiting execution at the Limit price (or better).

If you have Confirm Order Entry option checked, a blue confirmation box will pop up. Click “Buy” to send the order to the exchange or “Cancel” to cancel the order.

After you have decided to submit the order(s), the Trade Window will show that they have been placed as working order at the price you have indicated.

To enter a buy StopLimit (or sell StopLimit#) order, right-click on a price above the

currently traded price in the red bid column. This price will set the Stop portion of your StopLimit order. A mini menu of order choices will appear. Select StopLimit (StopLimit#) from the menu.

Once you have done that another mini price ladder window will pop up asking you to select the price that is your Limit portion of the StopLimit order.

You can make the Limit price to be the same as or higher than your sell Stop price.

After you have decided to submit the order(s), the Trade Window will show that they have been placed as a working order at the price level you have indicated.

In the following screenshot, a buy StopLimit was placed above the market at xxxxx and a synthetic sell StopLimit# was placed below the market at xxxxx with the Trade Window showing both are working ( the SLi4 will be on Globex and sSLi4 will be held in TradeMaven on your computer).

Notice that because the StopLimit order (SLi) is resting as a working order on Globex, its tag is colored (blue). The synthetic StopLimit# order (sSLi) tag is in white to show the difference.

You can cancel any individual working StopLimit order by clicking on “X” next to the working order tag or you can cancel all your placed orders by clicking on the “Cancel All” button at the bottom left of the Trade Window.

You can also cancel your order from the “Order View” window.

To cancel/replace (amend) the price of the working StopLimit order left-click on the desired working order tag and drag-and-drop to a new price level.

This new price will be your new Stop price. When you do that, TradeMaven will open a mini price ladder window to prompt you for the new Limit Price.

Stop# and MIT# Orders

Both the Stop# and the MIT# (Market If Touched) orders are synthetic orders that are held locally on your PC with in TradeMaven. A Stop# is basically a Stop-Market order so that when TradeMaven detects that the price has traded at the Stop# price, the software will send the order to the exchange for execution as a market order. The same works for the MIT#. The difference is that MIT# sell orders and the Stop# buy orders placed above the currently traded price while the MIT# buy orders and Stop# sell orders are placed below the currently traded price.

The following shows how the order tags would look on the Trade Window for the respective MIT# and Stop# orders placed using the same method described in the previous section.

1. Synthetic Buy Stop# for 4 lots at 134.250 (sS4)

2. Synthetic Sell MIT# for 4 lots at 134.250 (sMIT4)

3. Synthetic Sell Stop# for 4 lots at 134.170 (sS4)

4. Synthetic Buy MIT# for 4 lots at 134.70 (sMIT4)

Amending a Stop# or MIT# order price simply involves left-clicking the desired order tag and drag-and-drop to a new price level. Changing the lot size is performed in the same manner described in the previous sections.

Note: If the sequence is reversed such at a MIT# sell order or a Stop# buy order is placed below the current market price, that order will automatically be sent for execution at the exchange for a market order fill. This applies also if the MIT# buy or Stop# sell is placed above the current market price.

This is also true of the StopLimit and StopLimit# orders.