Conditional

A conditional order is an order that will automatically be submitted or cancelled ONLY IF specified criteria for one or more defined contracts are met. You can use stocks, options, futures or security indexes to trigger a conditional order.

 

To create a conditional order

1. Select an order line.
2. From the right-click menu, select Modify and then select Condition.
3. From the Conditional tab on the order ticket click Add Condition.
4. Enter contract information for the contingent asset in the Conditional Order box.
5. Enter the trigger information for the contingent asset:

• Select the trigger method.
• Select whether the price of the contingent asset should be less than or equal to (<=) or greater than or equal to (>=) the trigger price.
• Enter the trigger price.

If you select the double bid/ask trigger method, the greater than or equal to operator (>=) will use the BID price and the less than or equal to operator (<=) will use the ASK price.

6. Click OK. The condition appears in the Current Conditions list.

To set multiple conditions, use the Add Condition button and click AND or OR in the Current Conditions area.

Field/Button	Description
Add Condition	Invokes the Conditional Order entry box.
Delete	Deletes the selected condition.
Modify	Opens the Conditional Order entry box for the selected condition to allow you to make changes.
Allow condition to be satisfied...	Lets the selected condition activate the order if it is satisfied outside of regular trading hours.
Action to take...	If selected conditional order is satisfied, you can elect to have the primary order submitted OR cancelled.

 

To find out more about using Conditional orders, see the Conditional Orders page.