How to Place A Buy Order With A Trendline
Placing a buy order based on a trendline allows TC2000 to automatically modify the order up (or down) the trajectory of the trendline. This provides the opportunity to follow a stock's movement and attempt to buy it within the natural movement of its trend. Below are the steps to placing this kind of order.
If you have a trendline drawn on the chart, click on that trendline and choose Buy Limit from the drop down menu.
3. This initiates a Trendline drawing tool and the AutoTrack feature needed to automatically modify the Trendline order.
5. This places a limit order ticket on the chart with the initial order being placed at the price level represented by the trendline under the last bar on the chart.
The trajectory of the trendline into the future will serve as the path up which the order will be automatically modified.
6. Modify the path of the trendline by clicking and dragging the blue dashed line in the projection space. (Optional)
This order will automatically modify up the trajectory of the trendline at the selected interval. If the stock price moves down and hits the modified stop level the order may be filled.
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.