TradeStation Help

Matrix Trade Bar and Advanced Orders

TradeStation clients can use the Trade Bar in the Matrix window to rapidly place or change orders without needing to fill in the standard TradeStation Order Bar.

 Access from the Matrix window using the menu bar View > Trade Bar sequence or the shortcut menu View Trade Bar item.

Matrix Trade Bar

The Matrix Trade Bar is used to specify the type and size of orders that can be placed from the Matrix window. The specified order parameters (type, size, etc) remain active for all Matrix buy and sell orders until changed. By default, a scroll bar will appear when the Matrix window is sized too small to display all of the Trade Bar settings.

 See About Matrix Orders for more information about placing Buy and Sell orders from the Matrix window.

Field Type Description

Order Type		 Auto Order Types
  • Auto (LMT/STP)- Specifies the automatic selection of a Limit or Stop-Market order depending on whether the selected cell is above or below the current price in the Bid Size or Ask Size column.
  • Auto (LMT/STL) - Specifies the automatic selection of a Limit or Stop-Limit order depending on whether the selected cell is above or below the current price in the Bid Size or Ask Size column.

Orders placed from a cell in the P/L column will always utilize (LMT/STP) Limit and Stop-Market logic.

Fixed Order Types

  • Limit - Specifies that a Limit order will be placed using the selected Bid Size or Ask Size cell as the Limit price
  • Stop Market - Specifies that a Stop-Market order will be placed using the selected Bid Size or Ask Size cell as the Stop price.
  • Stop Limit - Specifies that a Stop-Limit order will be placed using the first selected Bid Size or Ask Size cell as the Stop price and the second cell as the Limit price.

Fund Source		 Selects the type of funding to use for the order (Cash, Standard Margin, or Negotiated Margin). See Fund Source for more information.

Taxation		 Selects the method of taxation to use for the order (Tokutei or non-Tokutei). See Taxation for more information.

Quantity		 The # or ¥ specifies whether the value in the Quantity field refers to the number of shares or a currency value to purchase for the next buy or sell order. The ten most recently entered quantities will be saved in the area beneath the Quantity box; any value can be reused by simply clicking on it.

Duration		 The value in the Duration box represents the length of time that an order will remain valid in the market. For example, Day represents the standard market session hourswhile AM represents just the morning session hours.

Lot Selection
Selects the lot selection method (FIFO, LIFO, Low Cost, High Cost) for closing multiple lots in a margin position that is being closed.

OSO Order

Check Attach OSO and select an OSO Order template (from the OSO drop-down list). The order(s) specified in the OSO template will be sent when you place an order from the Matrix window. These secondary OSO orders will become active when the primary matrix order is filled. To change settings for a selected OSO template, click .

For more information, see About OCO and OSO Templates or Order Cancels Order & Order Sends Order - Order Bar.

Market Order 		Clicking the M Buy Mkt, M Sell Mkt, M Short Mkt, or MBtoCMkt button lets you select the type of market order to be placed using the default quantity. You'll be asked to confirm the order values and when filled, you should see the resulting position reflected in the Matrix P/L column.

Trl Stop Order (trailing stop)		 Clicking the M BtoC Trl Stp or M Sell Trl Stp button lets you select the type of trailing stop order to be placed using the default quantity. You can choose a trailing stop price based on either the Pts (currency) or % (percent) amount in the Amt field. You'll be asked to confirm the order values and, when filled, you should see the resulting position reflected in the Matrix P/L column.

OCO Order

To place an OCO order, select the desired OCO template (from the OCO drop-down list) and click the Place OCO Order button. To change settings for a selected OCO template, click .

For more information, see About OCO and OSO Templates or Order Cancels Order & Order Sends Order - Order Bar.

Manage Orders		 Clicking on one of these buttons will immediately perform the following cancel or close action for the active symbol:
  • Canceling All Open Orders - Clicking the Cancel All button cancels all open Stop and Limit orders only for the current symbol in the active Matrix window. GTC/GTD orders will not be canceled unless directly clicked on in the Orders column. In addition, open orders for other symbols will not be canceled.
  • Reversing a Position - Clicking the Reverse All button will reverse the current position. For example, if you're long 100 shares your position will be reversed to be short 100 shares in one action. It will work the same way when going from short to long, for example a position that is short 500 shares will be reversed to be long 500 shares. For equities symbols that are not 'shortable', the long position will be canceled resulting in a flat position.
  • Closing a Position Immediately - Clicking the Close All button will immediately exit the current position by placing the appropriate market order. You can also click on a cell in the P/L column to instantly place a limit order at the corresponding price. If there is an existing open order to sell any portion of the position, then that order will be canceled and replaced with a new order to close the entire position.
Reset VWAP (on desktop toolbar) Clicking the Reset VWAP button on the desktop toolbar lets you to select one of three base times for calculating the VWAP marker in the Matrix window. These include:
  • Now (in exchange time) - Recalculates the VWAP based on current exchange time.
  • As of session start - Recalculates the VWAP based on the session start time for the selected symbol.
  • As of... - Recalculates the VWAP based on a user specified date and start time.

Advanced Order Bar

The Matrix Advanced Order Bar is used to select advanced parameters for Matrix orders. By default, a scroll bar will appear when the Matrix window is sized too small to display all of the Advanced Order Bar settings.

Access from the Matrix window using the menu bar View > Advanced Trade Bar sequence or the shortcut menu View Advanced Order Bar item.

The following advanced order options are available based on the symbol and order route selected: