Click Trading Window

Description

Click trading shows each price level in the middle column (price), with buy order's at each price level on the left (bid size), and sell orders at each price level on the right (ask size). Orders placed by the user will show up in the Buy and Sell columns.

It enables you to quickly place orders. The view presents an ascending vertical list of prices centred between the current bid/ask levels. The outermost columns displays all your active and pending orders in the selected portfolio. Bid Size and Ask Size columns shows the order depth volumes at their respective price levels. The mid column displays the price based on tick size.

Access requirements

•Access to a trading service

•Access to Click Trading

•Access to level 2 orderbook data

How to access

Right-click on a symbol Select Trading > Click Trading

1. Hit Ask and Hit bid allows you to trade at the market price even if the exchange does not support at market orders.

2. Tick Bid and Tick Ask allows you to place an order that is one tick better than the current market price

3. Join Bid and Join Ask will place an order on the the current price level in the order book.

4. Details allows the user to edit the default conditions of the click trading template.

5. A visual indication of your gain/loss for the current instruments against the traded price has been added

6. Price Indicators have been added for High/Low, VWAP and previous close, it is possible to turn this off in the setup menu.

7. A position bar at the bottom shows the Volume, Avg. Price and the result of the current instrument.

Description of Columns

Price column: Displays the prices based on tick size levels

Bid Size and Ask Size columns: Displays the order book volumes at their respective price levels.

Buy and Sell columns: Displays all active and pending orders on the currently selected portfolio.

How to place an order

To place an order select the Portfolio you want to trade on and the Volume you want to place in the market. Then click with the left mouse-button on the Bid Size (for buy order) or the Ask Size (for sell Order) at the desired price level.

Please note:

•To cancel an order, click on the order in the buy or sell column

•Clicking several times in the bid size or ask size at a certain price level will add multiple orders at that level

Gap Handling

•Gap handling allows you to remove levels in the orderbook where no orders have been placed. This is especially useful on instruments with very small ticksizes and big gaps between orders. To enable this feature click the wrench icon followed by Setup.

Selectable fields

Portfolio: Select the Portfolio you want to trade on

Volume: Select the Volume you want to use per order

Consolidate Click trading window

The click trading window supports consolidation, which allows you to view available markets consolidated by right clicking or using the shortcut Ctrl+G. When these windows are in consolidated mode a Σ will appear before the Bid and Ask size columns.

Other Buttons

•Cancel Buy: Cancels all pending and active Buy orders

•Cancel Sell: Cancels all pending and active sell orders

•Cancel All: Will remove all pending and active orders

•Center view: Will centralize the bid and ask price view

•Lock: While lock is enabled, it is not possible to enter orders in the click trading window

Drag-and-drop

The Click Trading Window supports drag-and-drop from one level to another to change the price. Select the order you want to move and drag it to a different price level. Moving an order from buyside to sellside and vice versa is also supported.

Optional settings

Click Trading options can be found in the window tool menu

•Enable / Disable Hints (on/off)

•Conditional orders support (possible to define the order type)

•Price delta based on Tick size

•Gap handling off/1/none allows you to select the amount of space between price levels with no orders.

•Clear Volume after sending order – clears the volume field after each order has been placed

•Focus Volume field after sending order – the volume field gets highlighted after an order has been sent which lets the user quickly change the volume

•Double-click to place order – User must double-click in the click trading window in order to place an order.

Enhancements

There have been a number of improvements and enhancements to the Click Trading window, including:

•Window remembers the last used window size

•Configurable background colors used in the cells that shows your order volumes.

•You can display, create and cancel conditional orders directly from the Click Trading window (this assumes that your trading provider supports conditional orders). To insert a conditional order, Ctrl+Click on the desired trigger price level in the Bid Size or Ask Size columns. Conditional orders are displayed with a question mark (?) in front of the volume.

•You can also configure Ctrl+Click to insert conditional orders. For instance, Ctrl+Clicking on the Ask level 100 will create a conditional order to sell the symbol when the Last price equals (or is below) than 100. With a price delta of 2, the order price will be 99 (assuming the tick size is 0.50). Note that the conditional orders generated are checking the Last price.

•Note that conditional orders show up at the price level that they will trigger. In the example above order shows up at 100 - because the conditional order will trigger (become active) when the last price equals 100. At that time, the order will become active, with an order price of 99 (making it very likely that it will match the market).

•The Click Trading window shows graphically an indication of profit or loss - as determined from the difference between your last traded price and the current market price of the symbol.