This section describes new RealTick
8.0 order types and quick, convenient functionality
around placing orders.
Select from the following:
*Video available.
 Trading from Charts
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system requirements
You can now place trades and view
orders and positions directly from a
RealTick chart.
Custom Conditional Orders
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system requirements
RealTick 8.0 allows you to place trigger orders when
custom conditions have been activated. Simply associate
conditions with an order, then place the order.
Order Send Order
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system requirements
Order Send Order links two orders together: 1) a trigger
order, and 2) a dependent order. The fill of the trigger
order places the dependent order. The dependent order
amount can vary based on your custom parameters.
When filling out the order box, check Conditional
Order and choose Order Trigger
from the Trigger Type drop-down list:
Adjust
Dependent Volume parameters changes the
quantity of the dependent order, based on the partial
fills of the trigger order.
Adjustments can
be made on:
- Trade
Volume: The dependent order is placed
for the same number of shares executed on the
trigger order.
- Ratio
of Fill: The dependent orders size is
a percentage of the trigger orders total filled
quantity. The percentage is defined as the dependents
specified quantity divided by (/) the original
quantity of the trigger order.
- Ratio
of Fill: The quantity of the dependent
order is proportional to the trigger order. The
ratio used is the dependent orders specified
volume divided by (/) the trigger orders original
volume.
- Market
Value: Using the price and number of
shares executed in the trigger order, RealTick
places the dependent order for the same transaction
cost.
Order Cancels Order
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system requirements
Order Cancel Order (OCO) optimizes your trading strategy
by simultaneously placing a stop loss and a profit
target order. RealTick monitors the markets, mitigates
the risk of an open order, and frees you from having
to watch the markets move constantly.
An OCO links two orders
together such that if one order is filled, the other
automatically cancels. An OCO can be used to step
into a position or to exit out of an existing position.
These orders can be placed on all stocks, options,
and futures. While both orders can be placed
on different destinations, the symbol needs to be
the same.
RealTick sends both legs
of the order simultaneously: the first leg to the
destination, while the trade server continues to
manage the stops. Whether the first leg receives
a partial order or completes the trade, the server
cancels the stop order to avoid risk of double placement.
RealTick margins on half of the total transaction
cost of the OCO. To avoid double placement and incorrect
margining, RealTick will not accept an OCO unless
there is at least $1 difference between the two
legs of the order as show below.
Placing an OCO in the
Order Entry window:
To access OCOs, click
on the extended menu in the MarketMaker
window and select the order view.
RealTick 8.0 displays
your live orders and position information directly
on a chart:
Trail Stop Limit
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system requirements
Similar to a trailing stop, a trailing stop limit
order trails the market of an instrument by your own defined
amount, until the market reverses. When the market
reaches the stop price, an order is placed using the
stop price, plus or minus the offset as the limit
price.
RealTick 8.0 supports conditional
changes on stop-limit and trailing stop limit orders.
If the market price of the instrument is greater
or less than, or equal to the profit objective (as
defined by the limit order price), RealTick changes
the trail amount to the user-defined value.
Conditional change orders may be placed from the
OCO order view or through the change order functionality
available in an OrderMinder.
Example: You have a position
of 1000 ABC @ $70, and a profit objective of $72. You place
a trailing stop limit order with a $1 trail amount
and a limit offset of $.50.
Scenario 1 trailing stop limit:
The market reverses and hits a stop price of $69.
The stop price is determined by the last price minus
or plus the trail amount. A limit order sell is
placed at $68.50. The $68.50 reflects the stop price
minus the limit offset. You may not be able to sell
all of this before the market goes below the
limit.
Scenario 2 trailing stop limit
with a conditional change: The market goes
up and hits a profit objective of $72. In lieu of
placing a limit order at $72.00, you continue to
ride the rising market and tighten your downside
risk. In order to do so, you place a conditional
change order that changes the trail amount from
$1.00 to $.10 when the market meets the profit objective.
At this point the stop price changes from $71.00
to $71.90. A reversal of $.10 will trigger
the stop order and place a limit order at $71.40,
reflecting the $.50 limit offset.
The trade server manages the trailing stop limit
order while RealTick manages the conditional change
functionality. Trade Serve III and RealTick 8.0
support trailing stop limits with conditional changes.
These orders may be placed on an instrument in any
asset class.
Slicer
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system requirements
The RealTick Slicer window allows you to distribute
large orders over certain time and volume increments.
Configure your orders to the price limit and daily
volume; choose a maximum order size per sliced
order, or, use passive mode with a reserve
order. Specify time and force, and the slices for
your order will adjust accordingly.
You can also choose from various curved trend
lines to assign a trading pattern to your sliced
order. Additionally, you may stop and resume your
sliced orders at any time.
Toolbars
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system requirements
Assign a hot key to a button, and multiple buttons
to a toolbar using RealTicks Hot Key Toolbar.
Instead of creating a hot key for each action, concatenate
a series of actions together using a macro available
in the Actions Manager.
There is a new variation on the Cancel feature called
"Cancel Most Recent" for order actions (hotkeys,
buttons, etc.). This action will cancel the
most recent order placed for the selected symbol
in the selected account.
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