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PreferredTrade
6.2
Stock Trading
The stock order entry window
contains boxes to enter a stock 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 stock symbol, shares, 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, Buy Close, Sell Long or Sell Short from the drop
down list by highlighting the correct choice to fill in
automatically.
Shares Box
Enter the number of shares you wish to trade by using the drop
down box or by typing in manually. Defaults to your quantity as
defined in the preference screen.
Symbol Box
Enter the symbol of the stock to buy or sell by typing in the
symbol or by highlighting the symbol on the drop down list. The
symbol box can automatically be loaded
from the window from which a bid/ask price was selected or by
left clicking on an existing position. Symbols entered during the
day will be maintained in the drop down box until the application
gets closed.
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" or "market on
close" (MOC) 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.
Route Box
Select from the drop down menu where to route the order. OTC/NASDAQ stocks can be routed via, AutoTrade, ARCA, or PT Desk. Listed orders are transmitted using AutoTrade. Listed orders may also be sent to NYSE, NY Amex, NY Direct, and ARCA during market hours. Note: If you do not see a routing option in the drop down menu, it currently is not available.
Stop Box
Specify a stop price by typing in the stock price in decimals. 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 is a Day (DAY) order. Good 'Til Date (GTD) orders can be placed for stocks on a limit and stop limit basis. Opening (OPG) orders are only accepted for listed stocks. All open Day orders not executed during market hours are automatically canceled at the market close.
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