TC2000 Help SiteTrading Stocks & Options Trading StocksHow To Place A Buy Market Order From The Chart

How To Place A Buy Market Order From The Chart

Placing a Market order instructs TC2000 to buy or sell a certain amount of a stock at the current Market price. This order type is often used when getting filled is the primary and price is a secondary concern.  A Market order is not guaranteed to fill but fills as long as there are willing buyers & sellers. The simplest way to place a Buy Market order in TC2000 is using the on-chart order ticket.

1. Click the Buy button at the bottom of the price pane to open the Buy order menu

2. Select Buy {Sym} at Market

This places the On-Chart Order Ticket at the left of the chart with the fields pre-filled based on the current market ask price. The P&L Zones to the left of the chart show where potential profit and loss begin (the break even point). If no changes are desired, simply click Buy {Sym} and confirm to place the order.

3. Make Edits to the Order ticket

The on-chart order ticket contains these fields which can be edited on the fly:

  1. Order Type
  2. Qty
  3. Duration (GTC)
  4. More
  5. OCA
  6. Conditional order menu
  7. Estimated cost of trade
  8. Toggle to large order ticket
  9. Buy button
  10. OTA dropdown arrow
  11. Live Bid & Ask

4. Set Quantity

Click the Qty button to choose the desired quantity for the order. Quantity can be set on any one of these four basis:

  • Number of shares--the actual number of shares desired
  • Dollar Value--a dollar amount (the program will select the closest number of shares to that dollar value)
  • Percent of Buying Power--some percent of the available buying power in the account
  • Percent of Cash--some percent of the available cash in the account

The typing fields for Shares or Dollars allow user-defined values not shown on the tables.

5. Set the Duration

The time-in-force field is used to choose the duration, either GTC (good-til-cancelled) or Day (good for the current trading session only).

6. Add the order to an existing OCA (one-cancels-all) or create a new OCA group with any outstanding order.

By clicking the OCA button and selecting any order from the list, an OCA group is created. (This step is optional and only used if an order dependency is desired.)

7. Attach a stop or target to the order (optional)

Attach to the order a Stop/Trailing Stop order or a Profit target.

Select a Stop and Target to create a bracket order.

The OTA ticket is pre-filled with the user-defined values for a bracket order.

8. Click the Buy {Sym} button

9. Confirm to place order

The trading tools work on either a LIVE brokerage account or a PAPER (simulated) trading account. Live market trading requires an account with TC2000 Brokerage (www.TC2000Brokerage.com).