How To Place A Trade With TradeStation Trading Software: Matrix
  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

How To Place A Trade With TradeStation Trading Software: Matrix

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

  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
RELATED TERMS
  1. BCG Growth Share Matrix

    A planning tool that uses graphical representations of a company’s ...
  2. Above The Market

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

    An order placed with a brokerage to buy or sell a set number ...
  4. Day Order

    An order to buy or sell a security that automatically expires ...
  5. Bracketed Buy Order

    A buy order that is accompanied by a sell limit order above the ...
  6. Dog

    One of the four categories or quadrants of the BCG Growth-Share ...
RELATED FAQS
  1. How do companies with a large product portfolio use BCG Analysis?

    Understand what BCG analysis is, and learn how companies use the BCG Matrix to analyze the performance of their product portfolios. Read Answer >>
  2. 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 >>
  3. What is the difference between a buy limit and a stop order?

    Learn the difference between buy limit orders and stop orders, including stop loss orders, and understand the risks of the ... Read Answer >>
  4. 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 >>
  5. 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 >>
  6. How can I use a buy limit order to buy a stock?

    Learn how a buy limit order is used by an investor who wants to buy a stock at a certain price, and understand how limit ... Read Answer >>
Hot Definitions
  1. Labor Market

    The labor market refers to the supply and demand for labor, in which employees provide the supply and employers the demand. ...
  2. Demand Curve

    The demand curve is a graphical representation of the relationship between the price of a good or service and the quantity ...
  3. Goldilocks Economy

    An economy that is not so hot that it causes inflation, and not so cold that it causes a recession. This term is used to ...
  4. White Squire

    Very similar to a "white knight", but instead of purchasing a majority interest, the squire purchases a lesser interest in ...
  5. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  6. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
Trading Center