This tutorial will discuss how to play stop and limit orders on open positions from a chart window.
First make sure you have selected show Open positions and show orders located in the flag icon of the charts toolbar. There are two ways to place a stop, limit or trailing stop on an open position. The first is through the position triangle right click menu. Right click on the position triangle and select stop, limit or trailing stop from the menu. In the order dialog box select the desired execution rate and click OK. The order will appear as a peach colored line with a triangle marker. Since this is an order to close the parent position the triangle will point in the opposite direction from the current position. An upward triangle represents the Buy order, a downward triangle represents a sell order.
The second way to place a conditional order on an open position is by dragging the position triangle up and down to the desired order rate. In order to do this press and hold the control or shift key and click and drag the position triangle vertically. Notice the outline of the conditional order following the cursor. The order will be a stop or limit depending on whether the mouse is released below or above the parent position. When the mouse is released the order dialog box will open. Here you can find-tune the exact order right and click OK to place the order. Quickly modify the rate of the order by dragging the orders up or down while holding the control of shift key.
The mouse overhands for open positions include information on any stop limit orders that position may have. To quickly identify the child orders of the position DoubleClick on the position triangle. The triangle markers of the child stop and limit orders will blink several times. Likewise DoubleClicking on a stop or limit order will make the parent position triangle blink several times. The mouse overhands for stop and limit orders will include a parent position number. To remove a stop or limit order right click on the order triangle and select remove order. Click ok to confirm.