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How To Place A Trade Using MultiCharts Trading Software: Modifying Orders

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Price levels and order quantities can be modified for orders that have not yet been filled. To adjust the price level:
  • Drag the order marker on the price chart and drop it to the new level.

  • To cancel the price level adjustment, press the Esc key on the keyboard before releasing the mouse button (see Figure 7).
To change the quantity of an order:

  • Right-click the order marker on the price chart to open the shortcut menu, select "Change Quantity" and select the quantity, or

  • Click on the volume value on the order marker and modify the quantity in the Trading Calculator.
Figure 7: Modify orders directly on the price chart.
Source: www.multicharts.com




Canceling Orders
Orders can be canceled by any of the following methods:

  • Click on the "Close" button on the order/strategy marker,

  • Right-click the order marker on the price chart to open the shortcut menu, and select "Cancel Order" or

  • Click the appropriate button in the Chart Trading panel ("Cancel Bids," "Cancel Asks" or "Cancel All").
Note: The "Cancel Asks" button cancels all pending buy orders. The "Cancel Bids" button cancels all pending sell orders. The "Cancel All" button cancels all pending orders.

Closing Orders
Traders can close a position by using one of the following methods:

  • Right-click the order marker on the price chart to open the shortcut menu and select "Close Position,"

  • Click on the "Close" button on the Chart Trading Panel or

  • Click on the "Close" button on the position marker on the price chart.

Next: How To Place A Trade Using MultiCharts Trading Software: Depth Of Market »


by

Jean Folger

Jean Folger
Jean Folger is a technical analyst and system researcher with PowerZone Trading, author of the award-winning book Make Money Trading: How to Build a Winning Trading Business, and a private trader specializing in the e-mini markets. Jean is an affiliate of the Market Technicians Association, a regular contributor to Futures magazine and was previously a real estate broker.

PowerZone Trading develops commercial technical trading indicators and trading systems for the TradeStation, NinjaTrader and MultiCharts trading platforms. The company is a TradeStation EasyLanguage Specialist and Add-on Developer and provides custom programming and consulting services for active traders.

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