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 Trade Bar.

 Access using the Matrix Settings > Trade Bar menu sequence.

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.
Account No. Selects the account to be used for placing Matrix orders.
Quantity The # or $ specifies whether the value in the Quantity field refers to the number of shares/contracts 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 hours while Day+ represents pre and post session hours.
Route By default, Intelligent will appear in the Route box which will automatically select a route to the best available fill at the time the order is placed. You can choose a specific order route from the drop-down list from those available for the selected symbol and market.
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 the ellipsis button.

For more information, see About OCO and OSO Templates or Order Cancels Order & Order Sends Order - Trade Bar.
Market Order Clicking the Buy Mkt or Sell Mkt 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 Buy Trl Stp or 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 the ellipsis button.

For more information, see About OCO and OSO Templates or Order Cancels Order & Order Sends Order - Trade Bar.
Manage Orders Clicking on one of these buttons will immediately perform the following cancel or close action for the active symbol:
  • Canceling Open Bids or Offers - Clicking the X Bids button deletes open bid orders. Similarly, clicking the X Ofrs button deletes open offer orders.
  • 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 in the Orders column. In addition, open orders for other symbols will not be canceled.
  • Reversing a Position - Clicking the Reverse button will reverse the current position (Equities, Futures, and Forex). For example, if you're long 5 contracts your position will be reversed to be short 5 contracts 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 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.
Lock Check this box to prevent the route selection from being changed inadvertently. Uncheck this box to allow the route to be changed.
Reset VWAP (on desktop toolbar) Accessing the Data > Reset VWAP menu sequence 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 Trade Bar

The Matrix Advanced Trade 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 Trade Bar settings.

Access using the Matrix Settings > Advanced Trade Bar menu sequence.

The following advanced order choices may be available based on the symbol and order route selected:

Related Topics

About the Matrix Window