Order Type - Sierra Chart Saxo Market

This phase lists the numerous supported order sorts. It affords a description for them and describes every of the inputs which might be particular to them. If an order type also can be used as an Attached Order, then the Attached Order inputs are also described.

The following are the strategies by which an order of any of those Order Types may be submitted:

• Through the Trade Window.
• Through the Chart or Trade DOM. Make sure you add the Order sorts to the Chart Trade Shortcut Menu.
• If the Order Type is supported as an Attached Order, it may be used as an Attached Order.
• These orders types are also supported via ACSIL.
• Some, but now not all, order kinds can be submitted through the Chart/Trade DOM / Order Entry Ladder.

When this documentation makes reference to a parent order or figure rate, it's miles regarding the primary order that Attached Orders are connected to. This is referred to as the figure order.Market

A marketplace order will fill on the modern market price. No other fee inputs are required.

In the case of a Buy order it's going to fill at thelowest availableSell limit order inside the market.In the case of a Sell order it'll fill at the very best available Buy limit order inside the market.Execution need to be on the spot, so long as there may be a matching order.

A market order will offer the fastest execution Limit

This is a popular Limit order kind. A Limit order is an order to shop for or promote at a selected rate.

A purchase limit order can only be finished at the limit rate or lower, and a promote restriction order can only be done on the restrict price or better.

A Buy Limit order which is at or above the current Ask charge will fill immediately.

A Sell Limit order that's at or beneath the currentBid fee will fill right away.Limit Order Inputs (Trade Window >> Main)Limit

This is the rate field for the Limit rate. Enter a rate or choose one from the drop-down list. Refer to Price Formatting.Attached Limit Order Inputs (Trade Window >> Targets)Limit Offset

This is the offset value from the determine order rate.Stop

This is a widespread Stop order type. A Stop order is an order to shop for or sell once the fee of the symbol reaches a specific rate, known as the Stop price. When the desired price is reached, your Stop order becomes a market order.Rejection of Stop Orders Beyond Last Trade Price

With a number of the supported Trading services, a Stop order price cannot be above the current marketplace charge for a Sell forestall or below the contemporary market fee for a Buy forestall. If the Stop order rate does not meet those rules, the Trading provider will reject the order. You will see this rejection for the Stop order displayed inside the Trade Service Log and also the Trade Activity Log. The particular reason for the rejection will be given via the buying and selling provider.

These rejections are from the exchange. In the case of when usingTrade Simulation Mode, Sierra Chart will not reject theseStop orders.

Whenis enabled, then Sierra Chart will nevertheless receive a Buy stop order if it's miles below the modern-day price with the aid of a few ticks and nonetheless be given a Sell Stop order if it's far above the present day charge by way of a few ticks, and send it to the linked Trading carrier. However, the Trading provider still might also reject the Stop order. When this selection is disabled, Sierra Chart performs no test on a Stop order fee with regards to the modern market rate.Stop Order Inputs (Trade Window >> Main)Stop

This charge box is for the Stop charge. Enter a rate or choose one from the drop-down list. Refer to Price Formatting.Attached Stop Order Inputs (Trade Window >> Targets)Stop Offset

This is the offset fee from the determine order charge whilst this order type is used as an Attached Order.Stop-Limit

This is a general Stop-Limit order type. A Stop-Limit order is an order to buy or sell that mixes the functions of a Stop order and a Limit order. Once the forestall price is reached, the Stop-Limit order will become a Limit order to buy or to promote at the required fee.

When modifying a Stop-Limit order,the Limit fee might be adjusted to preserve the identical offset it currently has to theStop rate.

Refer to the Stop segment for the reasons whya Stop-Limit order may be rejected upon order submission. Stop Limit Order Inputs (Trade Window >> Main)Stop

This price box is for the Stop charge. Enter a price or choose one from the drop-down list. Refer to Price Formatting.

The Limit charge is robotically set and may be the desired number of Ticks (by way of default) faraway from the Stop fee. To set this Limit offset, Open the Trade Window. Select the Set tab.

Set the Stop-Limit Order Limit Offset >> Primary Orders setting as some of Ticks or Percentage. For more records, talk over with Stop-Limit Order Limit Offset.Attached Stop Limit Order Inputs (Trade Window >> Targets)Stop Offset

This is the Stop offset value from the parent order rate. The Limit price is mechanically set and could be the specified range of Ticks (by default) far from the Stop price. To set this Limit offset, Open the Trade Window. Select the Set tab. Set the Stop-Limit Order Limit Offset >> Attached Orders putting as a number of Ticks or Percentage. For greater records, confer with Stop-Limit Order Limit Offset.Market If Touched

This is a fashionable Market If Touched (MIT) order kind.

In the case of a Buy MIT order, it turns into a Market order while the ultimate trade fee is identical to or less than the Trigger Price. In the case of a Sell MIT order, it will become a Market order whilst the closing alternate price is equal to or greater than the Trigger Price.

Based on the above, when using Sierra Chart Trade Simulation Mode,the order does not want to be touched for it tobecome a marketplace order.In the case of aBuy Market if Touched order, if the ultimate alternate price is clearly under that order,the order will become a market order right now.The contrary is real for a SellMarket if Touched order.

This order type is not supported with all the supported Trading offerings that Sierra Chart works with. If it is not supported, then while filing an order of this kind, it is going to be rejected by way of the buying and selling carrier or internally by using Sierra Chart if Sierra Chart knows in advance of time that the trading provider does no longer aid this order type.Market If Touched Order Inputs (Trade Window >> Main)Trigger Price

This charge box is for the Trigger charge of the order. Enter a charge or select one from the drop-down list. Refer to Price Formatting.Attached Market If Touched Order Inputs (Trade Window >> Targets)Trigger Offset

When used as an Attached Order, that is the Trigger offset cost from the discern order price. For instance, if this is set to one as a Price, then the trigger price for the order might be exactly 1.0 from the discern order price.Limit Chase

The Limit Chase order type is a Limit order kind this is robotically adjusted to follow (chase) the modern market price.

To use this order type you may either pick this order kind from the list of Order Types at the Trade Window and enter the Limit charge. Or you may permit theoption on the Trade Window menu. In this last case, when submitting a ordinary Limit order, it will likely be transformed to a Limit Chase order.

The Limit Chase order type is also supported as an Attached Order. In this unique case, theoption at the Trade Window menu does now not observe to Attached Orders.

When theoption at the Trade Window menu is enabled, then a Limit order entered from the Trade Window, the Chart DOM, the Trade DOM, the chart, or an automatic trading system, might be converted to a Limit Chase order.

The most chase amount in Ticks is about thru Set >> Max Chase for Chase Limit Orders at the Trade Window. Refer to the picture underneath for the place of this putting.

When using the Limit Chase order type, the order will mechanically be changed up in the case of Buy Limit orders and down within the case of Sell Limit orders.

After the order is submitted, and the ultimate change fee rises in the case of a Buy order, then the order is adjusted up by means of the quantity the final trade charge accelerated by using, no extra than the desired Set >> Max Chase for Chase Limit Orders quantity.

If there's no final exchange price available, then the common of the Bid and Ask charges will be used if those are to be had.

If the ultimate exchange charge declines in the case of a Sell order, then the order is adjusted down with the aid of the quantity the remaining change fee decreased by using, no greater than the specified Set >> Max Chase for Chase Limit Orders quantity.

It is suggested to run a Chart Replay and experiment with the Limit Chase order kind to get an know-how of the way it works.

In the case of whilst the use of an Attached Order, the chase action does not begin until the parent order fills.

Limit Chase Order Inputs (Trade Window >> Main)Limit