New Order

New Order

The screens in this article are based on the Android operating system. iOS screens may differ slightly.

You can place orders on the New Order screen. There are 2 ways to open the New Order screen:

  • Tap a symbol line in Market Watch.
  • Select Charts in the main menu, select a symbol, tap  > Trade > Go to New Order.

An Order is a client's instruction to the TickTrader to perform a trade operation. Available order types:

  • Market
  • Limit
  • Stop
  • Stop Limit

Market Order

Market Order (a simple Buy or Sell order) is an order to buy or sell currency at the current market price. Market Order is an order that lets you fill your order the fastest way. You can almost always expect your order to be filled, but this might not be at the best price you want. During volatile times, the difference between the price you see when you enter the order and the price you get your order filled at may be wide, but when the market is fast moving this might be the only option in order to fill your position before the market moves further away.

To place a Market order:

  1. Select Market at the top of the screen.
  2. Set the order volume (under the Buy button). In the Enter order volume pop-up, you will see available asset volumes. If you want to use all the available currency volume in the order, tap the corresponding Available volume.
  3. If you want to change the default slippage value, select the Def. slippage check box, and then enter your slippage value.
  4. If you want to change the current symbol, tap the symbol name at the top left of the screen, and then select the symbol.
  5. Tap the corresponding trade button (Buy or Sell). Confirm the execution of the order (required if the Confirm trade operations option is enabled in Trading Settings).

VWAP allows you to see the best prices on the Buy and Sell trade buttons depending on the order volume that you set.

Pending order

Pending order is the client's instruction to a brokerage company to buy or sell a trading instrument at predefined conditions in the future. When placing pending orders, the indicated execution price is not checked. The execution price can be higher than the current Ask price (for Buy orders) or lower than the current Bid price (for Sell orders). 

Pending order types:

  • Limit order is executed at a specified or better price. A Buy Limit order can only be executed at the Limit price or lower, and a Sell Limit order can only be executed at the limit price or higher.
  • Stop order. A Stop order is placed below the current market value of that currency for Sell positions and above for Buy positions. When the price reaches the level of Sell Stop or Buy Stop, the position will be opened automatically at the current market price similar with Market Order execution. The order execution price may not always be the price you set up.
  • Stop Limit orders combine the features of Stop and Limit orders. Once the Stop price is reached, it becomes a Limit order with a new ID. Then the order is executed like a regular Limit order – at a specified or better price.

To place a Pending order:

  1. Select the order type by tapping LimitStop or Stop Limit at the top of the screen.
  2. Select the order side by tapping Buy or Sell.
  3. Set the order volume. In the Enter order volume pop-up, you will see available asset volume, order execution price, asset volume required to ensure the order execution, and the Stop / Limit price (for Stop Limit orders). If you want to use all the available currency volume in the order, tap the Available volume.
  4. For Stop orders: If you want to change the default slippage value, select the Def. slippage check box, and then enter your slippage value.
  5. If you want to change the current symbol, tap the symbol name at the top left of the screen, and then select the symbol.
  6. Set the order execution price (At price). For Stop Limit orders, set the Stop Price and Limit Price.
  7. The following options affect the volume of the order visible in the Market Depth (only for Limit orders):
    • Hidden order: Select the Visible volume checkbox if you do not want to show the order in the Market Depth.
    • Iceberg order: If you want to show only a portion of the order in the Market Depth, select the Visible volume checkbox and enter the volume that you want to be displayed. The remaining volume is hidden.
  8. Set the order execution type:
    • GTD (Good Till Date): The order is valid until the specified date and time unless it has been filled or canceled.
    • GTC (Good Till Canceled): The order is valid until you cancel it unless it has been successfully filled.
    • IOC (Immediate or Cancel)(For Limit orders only.) The order is immediately executed, and any portion of the order that cannot be filled immediately is canceled.
  9. Tap Submit. Confirm the execution of the order (required if the Confirm trade operations option is enabled in Trading Settings).



    

Order book

At the bottom of the screen is an order book with the best Bid and Ask prices (Level2). You can change the maximum depth of Level2 in Trading Settings.

Market Depth contains orders currently available on the market. The order book includes the following information:

  • Highest Bid prices: The best prices that traders are willing to accept to sell.
  • Lowest Ask prices: The best prices that traders are willing to accept to buy.
  • Ask and Bid volumes.

Placed Limit orders are indicated by an asterisk in Level2: green — Limit order, yellow — Iceberg Limit order, red — Hidden Limit order.

The total Bid/Ask volume and the VWAP Bid/Ask prices are displayed in the total line.

The last received tick is displayed below the Level2 section.

Tick chart

To view the tick chart for the selected symbol, swipe left on the Level2 section.

Tick chart reflects the change in the price of a financial instrument with an accuracy of one tick. Ticks show each new price value, which is immediately printed on the chart.

Time & Sales tape

To view the T&S tape, tap  or swipe right on the Level2 section.

The Time & Sales tape (T&S) displays the most detailed market trading information. The tape is an order flow that shows the time, price and volume of the last executed trade operations. The data is refreshed in real time, so you can see what just happened in the market a second ago. At the top of the tape, you can see the date, the total number of displayed trades and the total volume of orders.

To go to T&S settings, tap  > T&S settings on the T&S screen.

  • Max number of trades in the T&S: Maximum number of displayed trades in the T&S tape.
  • Histogram in T&S: Show volume-based histogram in the T&S tape.

Tip: In landscape mode, the volume of the second asset is displayed.


Go to other screens

To go to the chart, tap  (Android) or View Chart (iOS).

To access Trading settings, tap  > Trade Global Settings (  in landscape mode).

To go to the Orders tab, tap  > Go to Orders.


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