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Placing an Order

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Now that you have money in your simulated account, you can start placing orders. There are two ways to place an order. You can click on the Buy/Sell button on the Simulation Toolbar then on the chart where you want to place your order. The Account tab will open in your control panel with the order placement box filled out with the correct information:

Order Placement: Choose to "Buy" or "Sell," then the quantity, the order type (see the list of definitions for each order type in this section), and the price at which you want your order to be filled. Once your order is placed, it will not show in your Accounting Simulator until the order is filled.

Trailing Stop: This can only be used on a Stop Order. Check the box to use a Trailing Stop on your order. Your Trailing Stop will follow an open position and protect profits by trailing a market rise or decline. You can choose to set your Trailing Stop by Dollar amount, Price Bars Back, or by following the PSAR or Zig Zag Indicators.

*If you have purchased the Bulls' n Bears Trading System then you will also have the option to follow the BNB Blue Light.

Trailing Stops

A trailing stop is a feature that helps you protect profits. As opposed to a Stop Loss order that is set to a certain price, a Trailing Stop moves with the market and follows an order, changing it's price as it follows the parameters set in the order. Track 'n Trade will watch each of your positions. Each time one of your long positions goes up, Track 'n Trade adjusts your Trailing Stop according to the setting you set at the time you placed your order. If the prices moves back down a predetermined amount, you will hit the trailing stop, and the order will automatically sell your shares. Short positions work the same way, but the direction is reversed.

Stock Order Types

Stop Order - Place a buy stop order above the market price; place a sell stop order below the market price. A stop order becomes a MARKET ORDER when the specified price is reached. Track 'n Trade fills these orders at the specified price if the price is within the trading range of the fill date, or at the opening price of the fill day.

Market Order - A market order does not specify a price, it is executed at the best possible price available. A market order can keep you from "chasing" a market. Track 'n Trade fills these orders at the opening price of the next day's trading.

(MOO) Market On Open -  This is an order that you wish to be executed during the opening range of trading at the best possible price obtainable within the opening range. Track 'n Trade will fill these orders at the opening price of the next day's trading.

(MOC) Market on Close Order - Market On Close orders will be filled during the final minutes of trading at whatever price is available. Track 'n Trade will fill these orders at the closing price of the next day's trading.

(MIT) Market If Touched -  Similar to a limit order, orders to buy are placed below the current price; orders to sell are placed above the current price. MIT orders fill once the limit price is touched or passed through. Track 'n Trade will fill limit orders at the limit price on the day your order fills if that price is in the trading range, or at the opening price of that day.

Limit Order - Limit Orders to buy are placed below the current price; limit orders to sell are placed above the current price. The market may touch a limit price several times without filling. In most cases, the market must trade BETTER than the limit for the order to fill. Track 'n Trade fills limit orders when the market trades BETTER then the limit price.

Changing an Order

You have the ability to edit an order and change the properties by right-clicking on the order.

To Edit an Order

Right Click on the order you want to edit and the window will appear. Enter your changes in the top portion of the screen, which is a copy of your original order screen (see Placing an Order paragraph for details). The bottom half of the screen is a history of the order, which can not be changed.

To Cancel or Delete an Order

The option to cancel an order is only shown when an order is not filled. An order cannot be canceled until after it is filled, it can only be deleted. Canceled orders will still show on your chart, but will have an X through them. Deleted orders will completely disappear from the chart.