How To Place A Trade Using MultiCharts Trading Software: Chart Trading
  1. How To Place A Trade Using MultiCharts Trading Software: Introduction
  2. How To Place A Trade Using MultiCharts Trading Software: Trade Bar
  3. How To Place A Trade Using MultiCharts Trading Software: Chart Trading
  4. How To Place A Trade Using MultiCharts Trading Software: Modifying Orders
  5. How To Place A Trade Using MultiCharts Trading Software: Depth Of Market
  6. How To Place A Trade Using MultiCharts Trading Software: Conclusion

How To Place A Trade Using MultiCharts Trading Software: Chart Trading

The Chart Trading panel allows traders to place manual orders directly from a chart. To show or hide the Chart Trading panel, click the Chart Trading panel button at the top-right corner of any chart. The Trade Panel, shown in Figure 3, appears at the right side of the active price chart. When using the Chart Trading interface, orders can be entered by:

  • Clicking the appropriate button in the Trade Panel,

  • Right-clicking at the desired price level on a price chart or

  • Using the drag-and-drop icons located at the bottom of the Trade Panel.
Figure 3: The Chart Trading interface appears at the right side of the active price chart.
Source: www.multicharts.com

Trading with Trade Panel Buttons
Chart Trading allows one-click order placements by using the Trade Panel buttons, shown in Figure 4. Similar to the Trade Bar, the trader must make selections for Account, Symbol, Quantity, Price and Time in Force. Once these fields have been defined, traders can enter Buy or Sell market orders by pressing the "Buy Mkt" and "Sell Mkt" buttons. The "Buy Ask," "Buy Bid," "Sell Bid" and "Sell Ask" buttons can be used to send buy and sell limit orders at ask and bid prices.

Figure 4: One-click orders can be placed using the Trade Panel buttons.
Source: www.multicharts.com


Trading Directly from a Price Chart
When using Chart Trading, be cautious because the price chart is cursor-sensitive, so right-clicking on the chart will generate an order at the clicked-on price level. To use this feature, hover the mouse over the appropriate price level on the price chart, right-click and select the order type and quantity from the list, as shown in Figure 5.

Figure 5: To trade directly from the chart, right-click on the appropriate price level and select the type and quantity from the list.


Different controls become active only if they are appropriate. For example, right-clicking above the price on a price chart will reveal Sell Limit and Buy Stop order options; clicking below the price will show Buy Limit and Sell Stop order options.

Trading with Drag-and-Drop Icons
Traders can also enter trades using the Place Order and Exit Strategy icons located at the bottom of the Trade Panel, shown in Figure 6. Additional icons can be viewed by clicking the scroll window button (which appears as a small arrow) above and below the Place Order or Exit Strategy icons, respectively, or by using the Expand/Collapse buttons. The icons are rearranged automatically; the most recently used icon will be displayed in the top left corner of the menu.

The Place Order and Exit Strategy icons can be applied by using one of the following methods:

  • Drag-and-drop the appropriate icon to the chart,

  • Right-click the appropriate icon and make a selection from the shortcut menu or

  • Double-click the appropriate icon.
Figure 6: Place Order and Exit Strategy buttons in the Trade Panel.
Source: www.multicharts.com


SEE: The Nitty-Gritty Of Executing A Trade How To Place A Trade Using MultiCharts Trading Software: Modifying Orders

  1. How To Place A Trade Using MultiCharts Trading Software: Introduction
  2. How To Place A Trade Using MultiCharts Trading Software: Trade Bar
  3. How To Place A Trade Using MultiCharts Trading Software: Chart Trading
  4. How To Place A Trade Using MultiCharts Trading Software: Modifying Orders
  5. How To Place A Trade Using MultiCharts Trading Software: Depth Of Market
  6. How To Place A Trade Using MultiCharts Trading Software: Conclusion
RELATED TERMS
  1. Bracketed Buy Order

    A buy order that is accompanied by a sell limit order above the ...
  2. Above The Market

    An order to buy or sell at a price set higher than the current ...
  3. Tender Panel

    A method of financing pursuant to the sale of Euro notes through ...
  4. Limit Order

    An order placed with a brokerage to buy or sell a set number ...
  5. Sell Plus

    An order to sell a quantity of stock at a price that is above ...
  6. Bracketed Sell Order

    A sell order on a short sale that is accompanied (or "bracketed") ...
RELATED FAQS
  1. What is the difference between a stop and a market order?

    Learn about market orders and stop orders, how they are used and executed, and the main difference between stop orders and ... Read Answer >>
  2. Is the high cost of installing solar panels justified by the money saved by going ...

    Find out whether solar panels pay off in the long run and about how long homeowners who purchase them have to wait to break ... Read Answer >>
  3. How do I place a limit order online?

    Learn how a limit order is placed, the types of stocks it is most useful for and the specifications placed with it to suit ... Read Answer >>
  4. What's the difference between a market order and a limit order?

    Buy and sell trades with market orders at the present stock price and execute limit orders if the stock price falls within ... Read Answer >>
  5. What is the difference between a stop order and a stop limit order?

    Learn the differences between a stop order and a stop limit order. Traders use these as stop losses and regular investors ... Read Answer >>
  6. How do I place an order to buy or sell shares?

    Read a brief overview of how to open a brokerage account, how to buy and sell stock, and the different kinds of trade orders ... Read Answer >>

You May Also Like

Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center