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Trading Panel

Table of Contents

The Trading Panel is the pit-stop to start your trading. The Panel comprises of all the necessary controls required to place and modify your orders

The Trading Panel can be activated by clicking the Trade button in the bottom bar. The panel is draggable and has a bilt-in memory cooridnates system. This means that the user can place the panel per their convenience anywhere in the browser.

Main Components #

  1. Broker Selection Dropdown: Choose the broker of your choice once you have established connection using the API credentials

  2. Buy/Sell Side Buttons: Chose side of the order

  3. Order Type tabs: Choose the Order type. GoCharting supports the following four Order types

    • Limit Order: A limit order is an order to buy or sell a stock at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute.

    • Market Order:market order is a buy or sell order to be executed immediately at the current market prices. As long as there are willing sellers and buyers, market orders are filled. Market orders are used when certainty of execution is a priority over the price of execution.

    • Stop Order:stop order, also referred to as a stoploss order, is an order to buy or sell a stock once the price of the stock reaches a specified price, known as the stop price. When the stop price is reached, a stop order becomes a market order. A buy stop order is entered at a stop price above the current market price.

    • Stop Limit Order:stoplimit order triggers the submission of a limit order, once the stock reaches, or breaks through, a specified stop price. A stoplimit order consists of two prices: the stop price and the limit price. The stop price is the price that activates the limit order and is based on the last trade price.

  4. Order specific controls based on broker: Enter the important parameters of the Order. Typical ones are:

    • Limit Price
    • Stop Price
    • Quantity
  5. Take Profit/Stop Loss Entry

    • Take Profit: A take profit order is a standing order put in place by traders to maximize their profits. It specifies a certain price above the purchase price, which is chosen by the trader. If the price of a security reaches that limit, it will automatically trigger a sale.
    • Stop Loss: A stoploss order is an order placed with a broker to buy or sell a specific stock once the stock reaches a certain price. A stoploss is designed to limit an investor’s loss on a security position. For example, setting a stoploss order for 10% below the price at which you bought the stock will limit your loss to 10%.
  6. Risk/Reward Calculator

  7. Order Placement/Modification Button

PS: There can be more parameters required which are typical to the broker/exchange or type of transaction

Trade Panel in GoCharting

Can I set certain parameters as default to speedup the Order Entry process? #

Yes, GoCharting allows you to set your quantity, Time to Expiry and other broker specific parameters to be set as default

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