Bracket Orders and Trailing Limits
Bracket orders help you limit your losses and lock in profits by bracketing an order with two opposite-side orders. If the main order is executed, the system automatically places the profit target and stop loss orders for you and cancels one when the other is filled. You can set profit targets and stop loss protection in ticks or currency value.
A bracket order is a multiple-leg Order Places Order (OPO). The first leg is an order with any regular order type (main leg). The second leg is an order-cancels-order (OCO) with two legs itself, a profit target leg and a stop loss leg. The profit target leg is a limit order and the stop loss leg is a stop order. Filling or partially filling the main leg triggers to profit/loss OCO. If one of those orders is filled, then the other order is cancelled.
Trailing Limit orders adjust limit price as the bid/ask prices change. Your trailing limit order will be cancelled and replaced with the adjusted new price. Trailing limits are managed by the CQG Gateway and may be set to follow the market by:
- Current bid on buys and current offer on sells
- Current offer on buys and current bid on sells
- Last trade
Trailing Limits can be a useful feature when working with best bid or best ask as the bid or ask changes, your order moves with the price.
Trading from the Enhanced Quote SpreadSheet
The Enhanced Quote SpreadSheet now has a Trade button on the toolbar. When activated, cells detailing contract Bid price and Ask price will send limit orders. Sweep mode is also available.
Additional cells from the preferences can be used for sending orders or detailing current orders and positions:
- BuyMarket
- SellMarket
- OpenPosition (Pos = number of contracts)
- OpenTradeEquity (OTE+P/L)
- Size (order size)
- WorkingBuyOrders (number of contracts working as buy orders)
- WorkingSellOrders (number of contracts working as sell orders)
- MarketDirection (last trade was an up tick or a down tick)
Time-Based TradeFlow Charts
Time-Based TradeFlow Charts use features similar to CQG’s TradeFlow bars except the bars are based on time. The bars detail the percentage of trades at the bid versus the ask price, and the color brightness and width of the bar are based on the level of volume relative to recent volume history.
Communications Toolbar
The new Communications Toolbar offers buttons for sending images in an IM, opening IM, and initiating Live Chat with CQG Customer Support.
Enhanced E-Mail Settings
The E-Mail Settings tab on the CQG Preferences window now includes: E-Mail Server, Server Port, SMTP server username, SMTP server mailbox, SMTP server password, encrypted connection, and default e-mail application settings.