How to Use the On-Chart Order Ticket (Equities)
Trading directly from the chart is streamlined with the on-chart order ticket. This article will review each item on the order ticket to aid in using it effectively.
3. The chart is populated with the order ticket, limit order price line and the appropriate P&L Zones.
This is called the "trade slider" because you can click and drag the line to set the limit price.
Note: the details for how this order is placed on the chart is based on your default order ticket settings. For more on how to set these defaults Click Here.
Live Bid/Ask prices are shown in yellow and continue to update until the order is placed. Estimated cost of order is also on the order ticket.
Order Type-- click to set order type (Lmt is set because that was chosen when the order was selected). Order type can be changed from the drop down. For more on these order types, Click Here.
Limit Price--click to open the menu for setting the basis of the limit order
Spinner--lets you adjust the limit price. Alternately, just highlight the price and type a new price in.
Select a specific price point from the list (notice the current Bid/Ask prices are noted in the list)
Select Dollars or Percent as the basis for the set up
Set desired basis by clicking on the button
- Market is current market price
- Ask + the current ask price plus the offset
- Ask the current ask price
- Ask - the current ask price minus the offset
- Midpoint the midpoint between the current bid and ask
- Bid + the current bid price plus the offset
- Bid the current bid price
- Bid - the current ask price minus the offset
- Offset set the amount of the offset desired (will be + or -)
Set "Step to" order
- Step to Market step from starting point to current Market price
- Step to Ask + step from starting point to current ask price + offset
- Step to Ask step from starting point to current ask price
- Step to Mid step from starting point to current ask price - offset
- Step from set the starting point for steps (either bid or midpoint)
Quantity -- click to set the desired quantity for the order
- Number of shares --actual number of shares desired
- Dollar value -- amount of money to spend on the order (program will select number of shares closest to the amount selected)
- Percent of Buying power -- set a percent of the Buying Power in the account (buying power is the total cash plus the maximum margin available)
- Percent of Cash -- set a percent of the available cash in the account
Duration -- click to select either day order (good only in current active session) or GTC (good til canceled; order stays in effect until filled or canceled by user)
More -- click to select either or both of 2 choices
- Allow outside Regular trading hours (allows the order to be filled in either pre- or post-market extended hours trading. For more on pre/post markets Click Here.)
- All or None -- places the order for a specific quantity which must be filled. Does not allow partial fills.
OCA (Once Cancels All) -- click to add the order to
- An existing OCA
- Create an OCA with any other single order.
Contingent Orders -- click to set contingent orders for sell/profit target. (Click more than one tick box to set up a bracket of a stop and target. Click Here for more on how.)
- Attach Profit Target -- place an order based on a projected potential gain
- Attach Stop -- place an order based on a projected potential loss
- Attach Trailing -- place an order based on a projected potential loss that automatically tracks increasing price by the selected %
Note: click on the x% to change the default percentage basis for the target/stop.
Delete -- click to delete order ticket and not place the order.
Switch Order Ticket -- click to change from the on-chart to a standard order ticket. The settings in the on-chart will carry over to the standard order ticket.
Confirmation screen will display order as set. Click Place Order to submit the order.
Confirmations can be disabled for one-click order. Click Here to learn how.
Click and drag the blue limit line to modify the order. (Click Here for more on modifying orders.)
Click the delete icon (x) to cancel the 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. Click Here for more.