Orders

Managing orders is a core functionality for day-to-day trading activities. In Empirica application, notion of orders covers:

  • orders created manually by the user,
  • orders created automatically by strategies.

All orders are displayed and managed in the same way, as they are a documentation of trader’s activity.

Creating orders manually

You can invoke New order frame frame by:

  • selecting inside menu Orders\New Order,
  • using keyboard shortcuts (default [Ctrl]+[N]),
  • clicking new order icon New order Icon on the toolbar,
  • double-clicking position inside the Quotations window.
Orders frame

Basic fields of the Order frame:

  • Instrument - instrument to trade (can be entered manually or via instrument browser),

  • Side - list of direction of the trade from which you can choose:
    • Buy,
    • Sell,
    • Buy minus,
    • Sell plus,
    • Sell short,
    • Sell short exempt;
  • Volume - how many instruments (for instance shares) will be bought or sold,

  • Price - price which the order will be placed with,

  • Type - order type field is a list from which you can choose:
    • Limit,
    • Market,
    • Stop,
    • Stop limit,
    • Market on close,
    • Limit on close,
    • Peg,
    • TSL;
  • Broker - broker to which order will be sent. Default value is taken from instrument assignment and it cannot be edited. In the demo version its value equals to “simulated exchange”,

  • Feed - shows the feed provider; non-editable. In the demo version its value equals to “esimulator”.

Note

Some of Side and Type values are supported only in LIVE and PAPER modes.

Creating an order directly from a Quotation window facilitates fast order placement. Double clicking on specific instrument’s best offer quotation (positions inside Bid, Ask, VolBid and VolAsk columns) opens New order frame with pre-filled values:

  • Instrument,

  • Side:
    • Buy - in case of clicking on Ask or VolAsk,
    • Sell - in case of clicking on Bid or VolBid;
  • Price:
    • Ask price - in case of clicking on Ask or VolAsk,
    • Bid price - in case of clicking on Bid or VolBid;
  • Volume:
    • Ask volume - in case of clicking on Ask or VolAsk,
    • Bid volume - in case of clicking on Bid or VolBid;

Additionally when clicking quotation below the best offer on the market, the order will have all fields automatically filled in, to consume all the positions from the top of the book, up to the selected quote, i.e. the quantity will be summarized and the price will be taken from the selected order.

Auto-filled-in orders can also be placed with the keyboard. When the focus (blue highlight) is set on a quote the [+] key opens an auto-filled Buy order, as if double-clicking on the position highlighted; the [-] key opens a pre-filled Sell order in the same convention.

Note

Creating orders manually is not allowed in BACKTEST mode.

Orders Monitor

Orders Monitor is a frame used for browsing of active and historical orders. It comes with a set of filters to facilitate querying.

You can invoke Orders Monitor frame by:

  • selecting inside menu Orders\Orders Monitor,
  • using defined keyboard shortcut (default [Ctrl]+[T]),
  • using Orders Monitor Icon button from the Menu & Tool bar.

Orders Monitor consists of two tables: Active and Completed. The first only shows orders with statuses: New, PendingNew, Partially Filled and Replaced; Completed lists all the other orders: Filled, Rejected, Canceled.

Active tab allows for the following actions on orders (available via right-click):

  • Modify order (available via right-click and double-click),
  • Cancel order,
  • Order history,
  • Copy,
  • Copy with headers
  • Find.

Completed tab allows for the following actions on orders (available via right-click):

  • Orders’ details (available via right-click and double-click),
  • Resend order,
  • Order history,
  • Copy,
  • Copy with headers,
  • Find.
Orders Monitor frame

Orders Monitor supports filtering. Simply click on Filters panel to expand. You will see several filters that can be used to limit list of displayed orders. Filters are activated by ticking check-box to enable selected filter widget and specifying filter parameter.

Another useful function is copy orders table content. You can copy whole table or just some selected orders (if you want to copy whole table you should select all rows, for example with [Ctrl] + [A] key-combo), and paste it to Excel or notepad.

Two actions invoke table content copying:

  • [Ctrl]+[C] or [Ctrl]+[Shift]+[C] shortcuts (second one copies table content with columns’ headers names),
  • Right mouse click and context menu items.

Note that due to performance reasons this frame contains only last 1000 orders, If you want to list older orders, you should go to Data Search window described later in this document.

FIX Messages

Fix Messages table shows details of communication between TradePad and Exchanges. This view displays all FIX messages that came in or out to TradePad. Although intended for advanced users, this view can be very helpful when tracing order steps (tracing order status). You can invoke FIX Messages frame by:

  • selecting inside menu Tools\FIX Messages,
  • using defined keyboard shortcut (default [Ctrl]+[I]),
  • using the FIX messages Icon button from the Menu & Tool bar.
FIX messages frame

As in the Orders Monitor tables, you can copy the contents of this table as well.