4.2.1. One-Click Trading
Bookmap enables placing Limit and Stop orders with One-click action directly from the Bookmap chart or from the Trading DOM column. This offers a tremendous advantage for pinpointing trade location and expediting trade execution.
- Cyan dots mark the entry of buy orders. The cyan line extends from the entry time until the order is either filled or cancelled. A filled buy order is marked by a cyan triangle.
- Magenta dots mark the entry of sell orders. The magenta line extends from the entry time until the order is either filled or cancelled. A filled sell order is marked by a magenta triangle.
It is possible to define what type of order information will be displayed on the chart. By default, pending, cancelled, and executed orders are all presented on the chart.
To change the default settings click Settings⟶Configurations and uncheck the relevant information on the Order Display section.
See the figure below for details of the various orders markings on the chart:
Legend: 1. Pending(sell) order 2. Executed (sell) stop order 3. Pending (buy) stop order 4. Cancelled (sell) order 5. Modified (buy) order 6. Number of contracts & (Number of orders)
Every time the Bookmap chart opens, the One-click Trading feature is disabled for precautionary measures. To enable One-Click Trading, click the lock icon above the Bookmap chart. It will open the Trading Configuration Panel. Check Enable One-Click Trading and specify the number of contracts per click (Size box).
NOTE: When One-click Trading is enabled the lock icon will open.
4.2.2. Approximation of Order Queue
When One-click Trading add-on is enabled, Bookmap can display an approximation of the position of the trader’s orders in the queue. Bookmap approximates the position in the queue according to a FIFO matching algorithm using a more pessimistic scenario relating to cancelled orders. The accuracy of the displayed queue position ultimately depends on the quality of data provided through the trader’s trading platform.
Bookmap presents queue approximation with white vertical lines on top of the current order book histogram. The place in the queue is illustrated by the position of the line over the bar representing the current size of a pending order at any given price level.
In order to activate the presentation of the queue approximation, click Settings→Configuration and check Orders Queue.
4.2.3. Placing Limit And Stop Orders
To follow up on your orders, position and P&L status you can either use the Trading Configuration Panel or the Trade Status Panel.
- To open or close the Trading Configuration Panel, use the lock icon above the chart.
- To close or open the Trade Status Panel click Settings→Configuration and check/uncheck the Show Trade Status Panel checkbox.
The Bookmap chart is divided into 2 areas separated by the current time line. Orders can be placed with one click action only from the area right vertical time line. To place an order, follow the instructions below:
- To place a Buy Limit order, click the left mouse button at or below the current bid at the desired price level. Note that clicking the left mouse button at or above the current ask will result in a buy at current market price.
- To place a Sell Limit order, click the right mouse button at or above the current ask at the desired price level. Note that clicking the right mouse button at or below the current bid will result in a sell at market price.
- To place a Buy Stop order, press SHIFT + left mouse button at or above the current ask at the desired stop price level. To place a Sell Stop order, press SHIFT + right mouse button at or below the current bid at the desired stop price level. Note that stop orders can be either stop market of stop limit orders, as explained below.
- A single mouse click places an order for the number of contracts specified by the trader in the trade configuration settings window. Each additional mouse click will add another order for a similar number of contracts.
4.2.4. Quick Order Entry
Use Quick Order Entry to Place Market Buy or Sell orders or place a Buy or Sell Limit at the bid or ask.
4.2.5. Send Order Confirmation
By default, a pop-up confirmation window will appear after sending orders.
Each order will need to be confirmed before it is actually sent for execution via the connected trading platform or API.
To disable the order confirmation pop-up, click Settings→Orders Confirmation and uncheck any order type for which you do not want to get a pop-up order confirmation window.
4.2.6. Order Duration
There are four different order durations that can be set in Bookmap through the Trading Configuration Panel:
- Day – order expires at the end of the regular session
- GTC – order stays in effect until cancelled
- FOK – fill or kill
- IOC – immediate or cancel
NOTE that order duration setup will be kept for all orders until changed or until the one-click trading is disabled, in which case the duration setup will revert to default.
NOTE that stop order duration is set separately from limit order duration to allow greater flexibility. The stop order setup will be kept for all stop orders until changed or until the one-click trading is disabled, in which case the stop order setup will revert to default.
4.2.7. Cancelling Pending Orders and Exiting All Positions
Pending orders can be cancelled and open positions closed either by one-click interaction on the Bookmap chart or from the Trading Configuration Panel.
Cancelling orders and Closing an Open Position from the Chart:
- To cancel pending orders, place the mouse pointer over the relevant price level and click the middle mouse button. When multiple orders are placed on the same price, Bookmap will cancel the last order placed.
- To cancel all of the pending orders at a certain price level, place the mouse pointer over the relevant price level and press CTRL + the middle mouse button.
- To cancel all pending orders, click the Cancel All button on the Trading Configuration Panel. To cancel just buy or sell orders, click the buy or sell X buttons on the Trading Configuration Panel.
- To exit all open positions, click the Flatten button on the Trading Configuration Panel. This will also cancel all pending orders.
4.2.8. Order Display
Your trading data is displayed in the window above the chart. It shows your current position, average price, the open number of buy and sell orders in the current market, the amount of volume you’ve traded, and your profit and loss.
Orders generated directly from your trading platform will also be displayed and updated on the Bookmap chart opened for the same instrument. You can control what trade indications will be displayed on the chart itself from the general configuration panel. Click Settings >> Configuration for the general configuration panel.
4.2.9. Order Modifications
- To modify the price of an existing order, use the mouse cursor to hover over the order line mark in the area to the left of the vertical timeline. When the cursor is over the order line, left-click and drag the order mark to the new price, then release the left-click to change the order price. Note: order modification is done from the area to the left of the vertical timeline. Performing this action from the area to the right of the timeline will result in a new buy limit order, which may be executed immediately.
- If there are multiple orders at a single price level, the order modification will apply to the newest order at that level. To move all orders resting at the same price level, hold CTRL + the middle mouse click and drag the orders to the new price.
- To change the quantity of a pending order, use the mouse cursor to hover over the order line mark in the area to the left of the vertical timeline. When the cursor is over the order line, left-click and release. This will open an order size ladder. Click the new order size you want to change the order to.
- If there are multiple pending orders at a single price level, the modification will first apply to the newest order.
- To change the order size of new orders, either use the size box on the Trading Configuration Panel or use the number buttons below it for a quickly adding or reducing size. When adding size simply click the relevant size buttons; when reducing the size, SHIFT+click the relevant size buttons. Users can set any preferred number on the size buttons. Simply right-click any of the size buttons and then click customize sizes. Enter any size of preference and close the customize sizes window.