1. How To Place A Trade With TradeStation Trading Software: Introduction
  2. How To Place A Trade With TradeStation Trading Software: Order Bar
  3. How To Place A Trade With TradeStation Trading Software: Chart Trading
  4. How To Place A Trade With TradeStation Trading Software: Quick Trade Bar
  5. How To Place A Trade With TradeStation Trading Software: Matrix
  6. How To Place A Trade With TradeStation Trading Software: Conclusion

The Matrix order-entry interface allows traders to view and trade an instrument from one window. The Matrix can be used to place orders by loading the appropriate symbol and using one of the various order selection methods. To open a Matrix window, select File from the main menu > New > Window, and click on Matrix. Figure 6 shows an example of the Matrix.

Figure 6: TradeStation\'s Matrix order-entry interface. The Bid Size and Ask Size columns are highlighted.


The right side of the Matrix contains the Trade Bar, used to specify the type and size of orders that can be placed within the Matrix. Orders can either be placed using the buttons in the Trade Bar, or by clicking in the appropriate cell of the Matrix once the fields have been selected in the Trade Bar:

Placing Buy (Cover) Orders
To place a Buy (Cover) order, click on the cell in the Bid Size column at the appropriate price level. If the order type Auto (LMT/STP) or Auto (LMT/STL) has been selected from the drop-down menu in the Matrix Trade Bar, the Matrix will automatically specify a Buy Limit, Buy Stop-Market or Buy Stop-Limit order depending on if the selected Bid Size is above or below the current price. If the order type Limit, Stop Market or Stop Limit is selected, the Buy (Cover) order will always be that type.

Placing Sell (Short) Orders
To place a Sell (Short) order, click on the cell in the Ask Size column at the appropriate price level. If the order type Auto (LMT/STP) or Auto (LMT/STL) has been selected, the Matrix will specify a Sell Limit or either a Sell Stop-Market or Sell Stop-Limit order depending on if the selected Ask Size is above or below the current price. If the order type Limit, Stop Market or Stop Limit is chosen, the Sell (Short) order will always be that type.

Canceling and Closing Orders
Click the "X Bids" button on the Matrix Trade Bar to delete open bid orders or click the "X Ofrs" button to delete any open offer orders. To cancel an open order, click on any cell in the Orders column of the Matrix that contains an open order, and the order will automatically be canceled. Clicking the "Cancel All" button in the Matrix Trade Bar cancels all open Stop and Limit orders for the symbol that is active in the Matrix window (orders for other symbols will not be effected). Click the "Close" button on the Matrix Trade Bar to exit the current position by placing the appropriate market order.

How To Place A Trade With TradeStation Trading Software: Conclusion

Related Articles
  1. Trading

    How To Place A Trade With TradeStation Trading Software: Order Bar

    The Order Bar allows traders to place market, limit, stop market and stop limit orders directly into the market. Multiple tabbed sections represent equities, options, futures and forex orders. ...
  2. Trading

    Beginner's Guide To Fidelity's Active Trader Pro: Trading

    To access the trade entry screens, from the Main Menu > Tools > Trade > [choose order type]. There are four primary trade entry screens within ATP: Stocks/ETFs & Options: For equities and ...
  3. Trading

    Beginner's Guide To ScottradeELITE Online Trading - Trading

    Traders and investors can use the ScottradeELITE platform to place orders for stocks, ETFs and options. Placing a Stock or ETF OrderThe ScottradeELITE Order Entry window is where orders to ...
  4. Trading

    How To Place A Trade With FXCM Markets: Placing A Trade

    FXCM's Trading Station makes it very easy for traders to place five different types of orders via either their online or offline platforms. These orders include: Market Order - Orders to ...
  5. Trading

    How To Place Trades With Interactive Brokers' WebTrader: Market View And Modify An Order

    Orders can also be placed directly from the Market View window. To open the Market View window, click on the Market tab at the top of the WebTrader screen. To create an order in the Market View: ...
  6. Trading

    Intermediate Guide To MetaTrader 4 - Placing Orders

    An Order window will have to be opened to place an order in the market. To open an "Order" window (see Figure 21): 1. Right-click on a currency pair in the Market Watch window and select ...
  7. Trading

    Beginner's Guide To FXCM: Trade Management

    There are quite a few ways to enter and manage orders in both the main platform and also in the charting platform. Orders can be categorized into two main sections - market orders and limit orders. ...
  8. Trading

    How To Place A Trade With TradeStation Trading Software: Chart Trading

    TradeStation's Chart Trading order-entry interface is used in conjunction with a Chart Analysis window (a price chart). The interface supports click-and-drag order-entry functionality, allowing ...
  9. Trading

    How To Place A Trade With MetaTrader 4 - Placing An Order

    Opening the Order Window The MetaTrader 4 Order window is used to place trades. The Order window can be opened using any of the following methods (see Figure 2): 1. Right-click on a currency ...
  10. Trading

    How To Start Trading: Order Types

    The types of orders you use can have a large effect on your trading performance, so understanding the different order types is important to your success.
Trading Center