This topic describes how to create an order using the Order Load panel on the Market Maker window.
To create an order using the Market Maker window, perform the following:
Tips: You can click the Bid or Ask columns to automatically create an order entry.
Clicking on the Bid column will create a sell order at the current bid price
Alt-clicking on the Bid column, will create a buy order at the current bid price
Ctrl-Clicking on the Bid column will create a sell-limit order at the current bid price
Clicking on the Ask column will create a buy order at the current ask price
Alt-clicking on the Ask column, will create a sell order at the current ask price
Ctrl-Clicking on the Ask column will create a buy-limit order at the current bid price
From the Market
Maker window, make sure you can view
the Order Load panel.
NOTE: To display the Order
Load panel, right-click on the Market
Maker window and select Show Order
Load.
In the Quantity field, type the amount of securities to use for the transaction.
From the Order Method drop-down list, select the method used to buy or sell the securities.
From the Price Type drop-down list, select the type of order you want to place.
In the Price
field, enter a price for the securities.
NOTE: This field will be unavailable if the Price
Type drop-down list is set to Market (MKT) price.
From the TIF: (Time In Force)
field, select the amount of time for the transaction to be valid.
If you want to direct the order to a specific exchange for which there is no route button, click the Preference check box so that a check mark appears and then type the exchange ID into the Exchange ID field. If you want to preference an exchange, click the Preference check box so that a check mark appears and then type the exchange id into the exchange id field
From the order type option buttons, click the appropriate button to buy, sell, short, or cover the order.
The Order
Confirmation window appears if the Confirm Orders feature is enabled.
NOTE: The OK button of the Confirm Place Order window will appear in the following colors to indicate the type of transaction you are initiating:
- Green OK button
indicates you are placing a Buy
order
- Red OK button indicates
you are placing a Sell order
- Blue OK button
indicates you are placing a Short order
- Brown OK button
indicates you are placing a Cover order
Verify the transaction information is correct and click the OK button to confirm the order. The results of the order will appear in the Order Status window.
TIP: You can also add a speed key to quickly place an order.