Trading Account Settings: What are They and How to Use Them?
You can set certain parameters for the trading account to customize your trading. These parameters are:
These options control the automatic filling in of the quantity field in the trading ticket when you invoke trading on a symbol. The quantity settings can be customized differently for stocks and options.
- Trans Value $ - The total transaction value for the trade.
- QTY Min and Max - Minimum and maximum share quantities.
- Round Qty - The method of rounding the quantity to a round lot.
- Use Portfolio Position - If checked, instead of using the above values, the position quantity in the portfolio, if it exists, is placed in the Qty field.
- Use Account Position - If checked, instead of using the above values, the position quantity in the account, if it exists, is placed in the Qty field.
These options control the automatic filling in of the price field in the trading ticket when you invoke trading on a symbol.
- Always Price Peg - The trading ticket allows you to peg the transaction price to a real-time price value - bid, ask, or last, with an offset.
- Peg Offset from Price - If pegged, what the offset is.
- Bracket Low %
- Bracket High %
Controls how price and quantity are incremented when clicking on the arrows in the trading ticket.
For each price or quantity level, there is a corresponding increment.
Sets what the visible actions are and what some settings default to when you open a trade ticket
- Available Actions - Select which actions should be shown on the trade ticket. For example, if you never go short, there is no need to check the Short and Cover options
- Default Order Type - Set the default order type that will show up when you open a new order ticket.
- Default TIF - Set the default Time In Force option that will show up when you open a new order ticket.
- Default Route - The default route for the order (for those brokerages that support specifying routes).
- L II - Route to Selected MMID - If the trade ticket is created from a Level II window, set the route for the order to be the MMID that was selected on that window.
- P&L Calculation Method - The Profit & Loss calculation method for the positions display.