About Chart Trading

TradeStation Chart Trading is an application that allows you to quickly and easily place trades, manage positions, and manage orders from a chart. It integrates click-and-drag order placement functionality, keyboard trading, and an ease-of-use trading panel to a Chart Analysis window.


Similar functionality as above is available in the Mobile and Web Trading versions of TradeStation.

To apply chart trading to the active chart in the desktop platform, select Chart Trading from the shortcut menu or click the Chart Trading icon from the Chart Analysis toolbar. The Chart Trading panel appears and docks to your chart window. Using Chart Trading also appears with popular speed keys for placing trades.

 VIDEO - Enabling Chart Trading in Chart Analysis

If the Chart Trading icon does not appear on the toolbar, use the View > Application Toolbar > Customize menu sequence (main menu) to access the Customize dialog, and under the Commands - Chart Analysis Toolbar category drag Chart Trading to the position you want the icon to appear on the Chart Analysis toolbar.

 VIDEO - Placing Limit and Stop Orders Using Chart Trading

Trades can be placed by clicking on the various order entry buttons in the Order Panel or by clicking directly on the chart. The chart trading order bar is much like the Quick Trade Bar and integrates click-and-drag order placement functionality that is similar to that found in the Matrix.

 VIDEO - Placing Breakout Trades Using Chart Trading

Placing Orders Using the Chart Trading Panel

Order Settings  

  • Account Number - The Account to use for your trades in this chart. If account alias is selected in order entry preferences, the account alias is displayed.
  • Order Quantity - The number of shares, contracts, or lots to trade.
  • P (position button) – Click to enter the position quantity into the quantity spinner.
  • Order Duration - The duration type of the order.
  • Attach OSO - Check to attach the listed OSO order type.
  • OSO Order Types - Drop-down list of available OSO orders.

Place Order  

  • Buy - Buy Limit at the best Bid price (Bid size shown under Bid price).
  • /\ or \/ - Upward or downward market direction if the Bid.
  • Sell - Sell Limit at the best Ask price (Ask size shown under Ask price).
  • Buy Mkt - Buy at current market price.
  • Sell Mkt - Sell at current market price.
  • Take - Buy Limit at the best Ask price.
  • Hit - Sell Limit at the best Bid price.
  • Buy Trl - Buy with trailing stop.
  • Sell Trl - Sell with trailing stop.
  • % or Pts - Trail by percent or number of points.
  • Amt - The value (% or Pts) for the trailing order.
  • Place OCO Order button - Click to place the listed OCO order.
  • OCO Order Types - Drop-down list of available OSO orders.

Manage Orders/Position  

  • Cxl All - Cancel all open orders for the chart symbol and account.
  • Cxl Active - Cancel selected open orders.
  • Reverse - Reverse the side of your open positions.
  • Close - Close your position for the chart symbol and account.
  • VWAP - Volume weighted average price of the chart symbol.
  • Position - Size (shares/contracts) of current position.
  • AvgPrice - The average price of current position.
  • OpenP/L - The profit (positive) or loss (negative) of the current position.
  • OpenP/L% - The percent profit (positive or negative) of the current position.

Other Features

Enable keyboard trading - When checked, allows keyboard trading using mapped keys.

Edit keyboard mapping - Accesses the keyboard mapping dialog.

Preview OCO EXIT orders - When checked, allows you to preview OCO exit orders before placing the trade.

Disable - When checked, disables the order panel.

Settings - Displays the Chart Trading settings dialog.

Help- Displays online help.

Place Orders by Clicking in a Chart

When placing orders by clicking on the chart, Ctrl + Left Click mimics the behavior of clicking on the bid side in the Matrix window and Alt + Left Click mimics clicking on the ask side in the Matrix window.

  • Open orders can be moved to new price levels by simply dragging and dropping their corresponding order lines.
  • Right-clicking an order line will allow you to edit the order's quantity and/or price using the Edit Order dialog (see below). From this dialog, you can also covert the order to a market order or cancel the order.
  • Selecting an order line and pressing the delete key will cancel the order.

The following table summarizes the various key and mouse click combinations that may be used to place orders by clicking directly on the chart:

Key + Mouse Click Combination Order Action
Ctrl + Left Click (Above the Ask) Buy Stop Market @ selected price
Ctrl + Left Click (Below the Ask) Buy Limit @ selected price
Alt + Left Click (Above the Bid) Sell Limit @ selected price
Alt + Left Click (Below the Bid) Sell Stop Market @ selected price
Shift + Left Click (Above the Ask) Buy Stop-Limit @ selected price (stop is at selected price, limit is set by offset amount set in the Chart Trading settings dialog (see below)
Shift + Left Click (Below the Bid) Sell Stop-Limit @ selected price (stop is at selected price, limit is set by offset amount set in the Chart Trading settings dialog (see below)
Drag & Drop Open Order Line Cancel/Replace Price
Right Click on Open Order Line Edit Order Quantity and/or Price
DELETE key on Open Order Line Cancel Order

Place Orders using the Keyboard

At the bottom of the Chart Trading panel is the Enable keyboard trading check box that allows you to use the keyboard to place orders. See keyboard trading for more about this feature and keyboard mapping for actions that can be mapped to keys.

Edit Order Dialog

The Edit Order dialog allows you to modify the properties of an open order selected on a chart.

Access by right-clicking on an open order line in the chart.

Settings  

  • Quantity - Select new quantity.
  • Limit Price or Stop Price - Select new price.
  • Replace Order – Click to cancel/replace the order with the new quantity and/or price.
  • Convert to Market Order - Click to convert the order to a market order.
  • Cancel Order - Click to cancel the order.
Related Topics

Chart Trading Settings

Keyboard Trading

Keyboard Mapping

Keyboard Order Preview

OCO Exit Order Preview

Chart Trading (Indicator)

Quick Trade Bar for Equities and Futures

Quick Trade Bar for Forex