The Quick Trade Bar is a fast order-entry interface that allows traders to place buy and sell market and limit orders by using a one-click method. To open the Quick Trade Bar, select View from the main menu and choose Quick Trade Bar. The Quick Trade Bar appears, as shown in Figure 4.
Figure 4: TradeStation\'s Quick Trade Bar is a highly visual one-click order-entry interface.
The upper section of the Quick Trade Bar displays the selected symbol, Low and Hi price of the day, Open P/L, Percent, Position (size) and Average Price. The middle section displays one-click Buy/Buy to Cover and Sell/Sell Short buttons (based on the current account position) along with the current market price, and the Bid and Ask prices. The arrows displayed above the Buy/Sell amount indicate the direction of the market. The lower section of the Quick Trade Bar contains preset quantity buttons, allowing traders to quickly choose 100, 200, 500 or 1,000 shares (for equities), and "Buy Mkt," "Sell Mkt," "Take," "Split," "Bid + 1," "Ask - 1" and "Hit" buttons.
To place an order, select the desired symbol, order size and account and click on the appropriate button. Figure 5 shows the confirmation box that appears after clicking the large "Buy" button. Clicking "Close" will close all open positions, while clicking "Cancel All" will cancel all pending orders.
Figure 5: A confirmation box appears after placing a trade. Click Yes to place the order.
SEE: The Basics Of The Bid-Ask Spread
How To Place A Trade With TradeStation Trading Software: Matrix
Small BusinessUnderstand what costs go into starting and running a bar, as well as what earnings can be expected. Learn whether or not it is smart to own a bar.
TradingWhile range bars are not a type of technical indicator, traders can employ this useful tool to identify trends and interpret volatility.
TradingWide range price bars often generate important signals that traders can use for timely entry or exit.