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

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

  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. Paper Trade

    Using simulated trading to practice buying and selling securities ...
  2. Demo Account

    A trading account that allows an investor to review and test ...
  3. Application Programming Interface - API

    An interface or "go-between" that enables a software program ...
  4. Mobile Trading

    The use of wireless technology in securities trading. Mobile ...
  5. Trading Software

    Computer programs that facilitate trading of financial products ...
  6. Trading Platform

    Software through which investors and traders can open, close ...
RELATED FAQS
  1. What happens if a software glitch fails to execute the strike price I set?

    If you've ever suffered the frustrating experience of having an order not filled or had a strike price fail to execute because ... Read Full Answer >>
  2. What is the difference between business intelligence and competitive intelligence?

    Competitive intelligence is the act of understanding a company's industry and industry rivals so the company can make better ... Read Full Answer >>
  3. Should I attempt to trade futures myself using software, or is this better left in ...

    The question of whether to do your own futures trading or opt for a managed account that a professional trades on your behalf ... Read Full Answer >>
  4. How do I place a limit order online?

    Nearly all trading orders can be placed online through a trading platform usually provided by a broker. A limit order is ... Read Full Answer >>
  5. How do you trade put options on E*TRADE?

    To trade put options with E-trade it is necessary to have an approved margin account. Investors may sign up for margin accounts ... Read Full Answer >>
  6. How do you trade put options on Ameritrade?

    To trade put options with TD Ameritrade, you need a margin account funded with more than $2,000 that is authorized to trade ... Read Full Answer >>

You May Also Like

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!