Conditional Orders

Top  Previous  Next

A Conditional order is a pending order (order 2) that is attached to an existing, confirmed Stop/Limit/OCO order (order 1). Order 2 will become an active pending order only after order 1 is executed. Conditional orders allow you to trade without having to constantly monitor the market.

 

You can attach a Conditional order to each traded instrument by right-clicking on any confirmed Limit, Stop, or OCO order in the Orders window and choosing the Conditional Orders option from the context menu. A window will open, where you can place Conditional orders that will be attached to the selected order.

 
Note that Conditional orders CANNOT be attached to a Limit/Stop/OCO order which is attached to a position.

clip0176

 

Note: All Conditional orders attached to Logical orders will be Logical too. They will be purple in colour in the Orders panel when they become Confirmed, Executed or Cancelled.

 

Regardless whether you are working in Logical mode or not, prior the submission of each Conditional order, you must confirm that you are are aware of the special circumstances related to Conditional orders described in General Terms of Business. By default, this option is active. You can deactivate it form this dialog or the Settings window.

 

clip0338

 

 

After clicking on the clip0277 button on the status bar, the following window will appear:

 

clip0088

 

You can request up to 100 Conditional orders in the Conditional orders window.

 

From this window you can add a Conditional Orders to an existing Stop, Limit or OCO. In the Conditional Orders window you can:

select the type of order (Limit/Stop/OCO)
select the instrument
input of the Quantity
input of Limit/Stop price
check the Fee and Trade Value

 

If you hold an open position in that instrument, you can see the current information about it in the field at the bottom of the window. This information is constantly updated:

clip0294

 

You can change the currency of the P/L in the currency of the account or that of the instrument by double-click Currency column in the Positions panel.

Note: You can track the charged fee for all executed conditional orders in My Account - tab Accounts Transactions.

 

Depending on the quantity, the fee is calculated and charged when the Conditional order gets an Executed status. You can check the ID numbers of Confirmed orders by hovering over the title (type of the order):

clip0089

 

You can add up to 100 Conditional orders by clicking on the "+" button in the status bar. The confirmed Limit/Stop/OCO order to which the Conditional orders are attached is the primary order.

 

A "*" will appear in front of each order that has Conditional orders assigned to it, and also in front of all Conditional orders in the Orders window.

You can cancel a Conditional order with a Requested status by clicking on the clip0177 button. You can cancel a Conditional order even if it is attached to another Conditional order, subsequent orders will also be cancelled:

clip0178

 

You can copy any of the orders in the Conditional Orders window and the orders assigned to it by clicking on the clip0301 button in the upper-left corner of the order's window. At the top of the Conditional orders window, you will see an End Copy button, which indicates that you have copied one or more orders; and those orders are marked with a darker colour:

clip0320                                              

 

This feature facilitates your actions when you want to submit the same sequence of orders, with the same parameters. Just hover over the order to see whether you can submit already copied orders.

You will see a notice:

Paste here - just click on the order to paste the copied orders;
You cannot paste on this order - cannot paste the copied orders;

clip0299

 

When you click on the order, the copied orders will be attached to it:

clip0300

 

Note: When you submit orders this way, if the Conditional orders warning message option is active, you must confirm that you are aware of the circumstances related to Conditional orders described in General Terms of Business.

To exit Copy mode, click the End Copy button - clip0303.

 

clip0302

 

 

Click the Info button to see additional information about the selected branch of orders. This information will be formed from all orders marked in red, including the root order:

Exp Position - Calculates what will the quantity of the position be at the moment when the marked orders get executed (from the root to the last order) and what will be the average price of this position;
Exp pos P/L - Calculates what will the Profit/Loss of the position be at the moment when this order is executed (from the root to the selected order) and the execution price of this selected order;
Exp P/L - Calculates what will the total Profit/Loss of all orders be (from the root to this selected order).

 

Note: No matter what mode you are in, all orders attached to logical based orders will be placed as Logical orders.

 

Navigation Menu

Last order button - opens the last Conditional orders tree for this instrument. If you select Conditional orders from the context menu of Positions/Quotes panel or Conditional orders clip0309 button, you will always see the last created/changed Conditional orders tree for this instrument if it has:

clip0321

 

If there are no orders in this instrument in the Conditional orders tree, you will see the New Conditional Order window for this instrument.

 

New Order button - opens New Conditional orders window for this instrument:

clip0322

 

Attach to button - after placing the order, you can find this pending order in the Attach to list. There you can see all Confirmed Stop/Limit/OCO orders to which you can attach Conditional orders. Those are the orders that still do not have Conditional orders attached to them:

clip0323

 

In the upper-left corner of the window, you can use the "X" button to remove the filter of the pending orders list for the particular instrument:

clip0324

 

Base orders button - opens the list of all Base orders which have a Conditional order attached to them. They are marked with " * " in the Conditional orders window and the Orders panel. When attaching a Conditional order to a Confirmed Limit/Stop/OCO, it becomes a base order and is moved to the Base list:

clip0325