Bookmap enables placing Limit and Stop orders with One-click action directly from the Bookmap chart or from the Trading DOM column. This offers a tremendous advantage for pinpointing trade location and expediting trade execution.
- Cyan dots mark the entry of buy orders. The cyan line extends from the entry time until the order is either filled or cancelled. A filled buy order is marked by a cyan triangle.
- Magenta dots mark the entry of sell orders. The magenta line extends from the entry time until the order is either filled or cancelled. A filled sell order is marked by a magenta triangle.
It is possible to define what type of order information will be displayed on the chart. By default, pending, cancelled, and executed orders are all presented on the chart.
To change the default settings click Settings⟶Configurations and uncheck the relevant information on the Order Display section.
See the figure below for details of the various orders markings on the chart:
Legend: 1. Pending(sell) order 2. Executed (sell) stop order 3. Pending (buy) stop order 4. Cancelled (sell) order 5. Modified (buy) order 6. Number of contracts & (Number of orders)
Every time the Bookmap chart opens, the One-click Trading feature is disabled for precautionary measures. To enable One-Click Trading, click the lock icon above the Bookmap chart. It will open the Trading Configuration Panel. Check Enable One-Click Trading and specify the number of contracts per click (Size box).
NOTE: When One-click Trading is enabled the lock icon will open.
Approximation of Order Queue
When One-click Trading add-on is enabled, Bookmap can display an approximation of the position of the trader’s orders in the queue. Bookmap approximates the position in the queue according to a FIFO matching algorithm using a more pessimistic scenario relating to cancelled orders. The accuracy of the displayed queue position ultimately depends on the quality of data provided through the trader’s trading platform.
Bookmap presents queue approximation with white vertical lines on top of the current order book histogram. The place in the queue is illustrated by the position of the line over the bar representing the current size of a pending order at any given price level.
In order to activate the presentation of the queue approximation, click Settings→Configuration and check Orders Queue.
Placing Limit And Stop Orders
To follow up on your orders, position and P&L status you can either use the Trading Configuration Panel or the Trade Status Panel.
- To open or close the Trading Configuration Panel, use the lock icon above the chart.
- To close or open the Trade Status Panel click Settings→Configuration and check/uncheck the Show Trade Status Panel checkbox.
The Bookmap chart is divided into 2 areas separated by the current time line. Orders can be placed with one click action only from the area right vertical time line. To place an order, follow the instructions below:
- To place a Buy Limit order, click the left mouse button at or below the current bid at the desired price level. Note that clicking the left mouse button at or above the current ask will result in a buy at current market price.
- To place a Sell Limit order, click the right mouse button at or above the current ask at the desired price level. Note that clicking the right mouse button at or below the current bid will result in a sell at market price.
- To place a Buy Stop order, press SHIFT + left mouse button at or above the current ask at the desired stop price level. To place a Sell Stop order, press SHIFT + right mouse button at or below the current bid at the desired stop price level. Note that stop orders can be either stop market of stop limit orders, as explained below.
- A single mouse click places an order for the number of contracts specified by the trader in the trade configuration settings window. Each additional mouse click will add another order for a similar number of contracts.
Quick Order Entry
Use Quick Order Entry to Place Market Buy or Sell orders or place a Buy or Sell Limit at the bid or ask.
Send Order Confirmation
By default, a pop-up confirmation window will appear after sending orders.
Each order will need to be confirmed before it is actually sent for execution via the connected trading platform or API.
To disable the order confirmation pop-up, click Settings→Orders Confirmation and uncheck any order type for which you do not want to get a pop-up order confirmation window.
There are four different order durations that can be set in Bookmap through the Trading Configuration Panel:
- Day – order expires at the end of the regular session
- GTC – order stays in effect until cancelled
- FOK – fill or kill
- IOC – immediate or cancel
NOTE that order duration setup will be kept for all orders until changed or until the one-click trading is disabled, in which case the duration setup will revert to default.
NOTE that stop order duration is set separately from limit order duration to allow greater flexibility. The stop order setup will be kept for all stop orders until changed or until the one-click trading is disabled, in which case the stop order setup will revert to default.
Cancelling Pending Orders & Exiting All Positions
Pending orders can be cancelled and open positions closed in two ways - either by one-click interaction on the Bookmap Chart, or from the Trading Configuration Panel.
From The Bookmap Chart:
You can cancel orders and close an open position using order labels or price level lines:
- Order Labels: You can cancel a pending order by clicking the middle mouse button over the order label. If there are several pending orders at a specific price level, you will see the total size of all orders and the number of separate orders in brackets. You can cancel all orders by clicking the orders total label. To cancel an individual order where multiple orders are placed, simply click the small arrow next to the total label. You’ll then get an extended view showing each order label separately and can click the relevant label to cancel the specific order that you want to remove.
- Price Level Lines: To cancel pending orders, place the mouse pointer over the relevant price level and click the middle mouse button. When multiple orders are placed at the same price, Bookmap will cancel the last order placed. To cancel all pending orders at a specific price level, place the mouse pointer over the desired price level and press CTRL + the middle mouse button.
From The Trading Configuration Panel:
- To cancel all pending orders, click the Cancel All button on the Trading Configuration Panel. To cancel ONLY buy or sell orders, click the buy or sell X buttons on the Trading Configuration Panel.
- To exit all open positions, click the Flatten button on the Trading Configuration Panel - this will also cancel all pending orders.
Your trading data is displayed in the window above the chart. It shows your current position, average price, the open number of buy and sell orders in the current market, the amount of volume you’ve traded, and your profit and loss.
Orders generated directly from your trading platform will also be displayed and updated on the Bookmap chart opened for the same instrument. You can control what trade indications will be displayed on the chart itself from the general configuration panel. Click Settings >> Configuration for the general configuration panel.
To modify the price of an existing order, simply left-click and drag the relevant pending order label to the new price, then release the left-click to change the order price. This can be done either to the total orders label or to individual order labels. Watch this video to learn about price and size modifications.
- To change the quantity of a pending order, click the related order label. This will open an order size ladder - then, click the new order size you want to change the order to. The button CLX at the bottom of the ladder will cancel the order.
- If there are multiple pending orders at a single price level, and you modify the total orders label rather than an individual label, the modification will first apply to the newest order.
- To change the order size of new orders, either use the size box on the Trading Configuration Panel or use the number buttons below it to quickly increase or decrease the size. When increasing size simply click the relevant size buttons; when decreasing the size, SHIFT + click the relevant size buttons. You can set any preferred number on the size buttons - simply right-click any of the size buttons and then click the customize sizes, then enter any size of preference and close the customize sizes window.