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PreferredTrade
6.2
Futures
Trading
From the Futures tab, the order
entry window contains boxes to enter a future order and buttons
to send the order for confirmation and execution. The boxes have
selection lists or up and down arrows. Click on an empty box
allows you to type or click in information. Below are the
explanations for each box.
IMPORTANT: There
will be no additional displays of your orders to verify their
accuracy or to acknowledge or approve once you click the send
button. This will enable the system to give you the fastest
transmission possible. Be very certain the symbol, contracts,
price and other conditions of your order are correct before
sending your order. In the event the order is not correct, you
may attempt to cancel the order by right clicking on the Order
number under Working Orders once it is live, i.e., confirmed with
a "Yes."
Buy/Sell Box
Choose Buy or Sell from
the drop down list by highlighting the correct choice to fill in
automatically.
Contracts Box
Enter the number of contracts you wish to trade by entering the
number to fill in automatically.
Symbol Box
Enter the symbol of the
future to buy or sell by typing in the symbol or by highlighting
the commodity from the drop down list.
Price Box
The system automatically fills in the ask price for buys and bid
price for sells. This creates a limit order that can be adjusted
by using the up/down arrows next to the price field. Use the
radio button to switch to a "market" order. The price
in the price box is frozen after it is entered or adjusted and
does not update automatically. To update the price, unlock the
price field.
Stop Box
Specify a stop price. If buying, a stop makes your order go live
when the stop price is reached that is higher than the current
market. If you are selling, a stop price makes your order go live
when the stop price is reached that is lower than the current
market. A stop price can be used with either a market or limit
order. Once the stop price trades your order becomes a live
market or limit order depending what is entered in the Price Box.
If you do not want to use a stop, please leave this box blank.
Duration Box
The default for duration are Day (DAY) orders.
Commodity Box
Choose from the drop down list all available future commodities
that you can trade. This will automatically load the future
symbol and current price.
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