Submit Market Orders

The Submit Market Orders element allows users to place market orders within their trading strategy. This element is essential for executing trades based on the conditions defined in the strategy.

Market Order Properties

When submitting a market order, various properties can be customized to fit the trader's requirements:

1. Action (Buy or Sell): Specifies whether the market order is to buy or sell the asset.
   
   

2. Comment: Allows adding a comment to the market order for reference or tracking purposes.
   
   

3. Time in Force: Determines the duration for which the order remains active:
   
   

   • Good Till Cancelled (GTC): The order remains active until it is explicitly cancelled.
     
     
   • DAY: The order is valid for the current trading day and expires at the end of the day if not executed.
     
     
   • Good Till Date: The order remains active until a specified date.
     
     

4. Position Size Method: Defines the method for calculating the size of the position. Available money management methods in the app include:
   
   

   • Fixed Contract: A specified number of contracts or shares.
     
     
   • Fixed Fractional: A fixed fraction of the available capital.
     
     
   • Fixed Ratio: A position size based on a fixed ratio formula.
     
     
   • Measured Fixed Fractional: A variation of fixed fractional with additional measurements.
     
     
   • Periodical Fixed Fractional: A fixed fractional method adjusted periodically.
     
     

5. Wait for Execution: Determines whether the strategy waits for the order to be filled before proceeding. This can be configured based on the strategy's logic:
   
   

   • Synchronous Execution: The strategy waits for the order to be filled before continuing.
     
     
   • Asynchronous Execution: The strategy continues without waiting for the order to be filled.
     
     

6. Stop Loss: Sets a stop loss level to limit potential losses.
   
   

7. Take Profit: Sets a take profit level to secure potential gains.

Notes

• The flexibility of the Submit Market Orders element allows traders to tailor their order submission process to their specific trading strategy.
  
  
• Both synchronous and asynchronous execution options are supported, providing versatility in how trades are managed.

Conclusion

The Submit Market Orders element is a powerful tool for executing trades within the MSB. By customizing various properties, traders can precisely control their trading actions, ensuring that orders are placed and managed according to their strategic requirements. This functionality enhances the overall effectiveness and responsiveness of trading strategies within FinStudio.