Inputs - TradeStation TradingApp® Store
TSAlgos gives traders access to a variety of trading algorithms designed to improve fill prices and reduce market impact when placing large orders. The following sections describe the inputs used to create an order, actions available to initiate or cancel an order, and feedback available to monitor an order’s progress.InputsThese are the values that need to be set by the user prior to sending the order.SymbolThe symbol to use when placing the order.AccountThe trading account to use when placing the order.QuantityThe total number of shares to buy or sell.PositionIf a position exists for the given symbol, clicking on the ‘P’ button will fill the quantity with the position’s total number of shares.StrategyThe trading algorithm to use, can be one of the following.VWAPThis strategy attempts to match VWAP (Volume Weighted Average Price). Historical and current volume distributions are taken into account and used to adjust the speed of execution. Clients can customize their orders, selecting start time and end time, limit price, and Max % Vol.TWAPThis strategy’s trades are based on time intervals to match TWAP (Time Weighted Average Price). Trades strictly on the clock, and does not adjust the speed of execution based on historical volume data. Clients can customize their orders, selecting start time and end time, limit price, and Max % Vol.POVThis strategy trades based on real time market volumes to match the client’s indicated POV (Percent of Volume) instructions. Clients can indicate their percent by selecting from 3 aggression levels: Patient: 10% of volumeNormal: 20% of volumeAggressive: 30% of volumeClients can customize their orders, selecting a start time and end time, as well as a limit price, Max % Vol, and Min % Vol. Due to the variability of market volumes, this order type may complete early or may not complete by the end time.TypeThe order type to use, can be Market or Limit.LimitThe order’s limit price when Type is set to Limit.Start TimeThe time of day the order commences execution, in local time.End TimeTime of day the order expires, in local time.Max % VolMaximum percent of volume. The strategy will not trade above this percentage of the stock’s trading volume. Can be a value from 0 – 99. If no value is entered, a default value of <?????> will be used.Min % VolMinimum percent of volume used when executing with the POV strategy. The strategy will not trade below this percentage of the stock’s trading volume. Can be a value from 0 – 99. If no value is entered, a default value of <?????> will be used.StyleThe trading style used when executing with the POV strategy. It can be Passive, Neutral, or Aggressive. An Aggressive style will increase the chance of execution, but also increases the risk of impacting the market.ActionsThe action buttons can be used to initiate or cancel an order.BuyInitiate a buy order.SellInitiate a sell order.CoverInitiate a buy to cover order.ShortInitiate a sell short order.CancelCancels the outstanding order, stopping execution of the algo.FeedbackThe status labels and tabs provide valuable real-time feedback.StatusThe Status label will display the current status of the algo, including the total number of shares filled, number of fills, and status of the last order.PositionThe Position tab will display the current side, quantity, average price, total cost, and market value of the position associated with the ticker entered in the Symbol textbox.Market DataDisplays the last, bid, bid size, ask, and ask size of the entered symbol. If the algorithm is currently running, the VWAP and Initial Price (the symbol’s price when the algo was initiated) will also be displayed.Order BlotterThe Order Blotter tab displays the filled time, order type, order quantity, filled quantity, leaves quantity, limit price, filled price, VWAP, order status, strategy, and order# for each fill.Fill ChartThis tab displays a graphical representation of the order’s progress over time. Each fill is shown along with the VWAP, bid, and ask at the time of the fill. Placing the cursor over one of the prices will display a data tip that describes the type of the data point along with its value and fill time.Performance ChartThe Performance Chart seeks to show how the algorithm is performing relative to the current VWAP price, as well as to the initial price. For the current VWAP comparison, values are obtained by taking the difference between the actual fill price and the VWAP price at the time of the fill, and then multiplying by the fill quantity. For each new fill, the value is calculated and added to the prior value, giving a cumulative dollar amount running total. For the initial price comparison, values are calculating by taking the difference between the actual fill price and the symbol’s price when the algo was initiated, and then multiplying by the fill quantity. As with the VWAP comparison, each new value is added to the prior value, so that a cumulative total is displayed. Placing the cursor over one of the values will display a data tip that contains more detailed information for that data point. Symbol LinkingSelecting the symbol linking button in the upper right of the TSAlgos TradingApp will link the TradingApp to other windows, such as the TradeStation Chart Analysis window. This can be useful if you wish to see a chart of the ticker being traded. Note that you cannot change the symbol in a linked window while an algo is executing. Attempting to do so will cause the following warning message to appear.HelpClicking on the help link at the bottom right of the TSAlgos TradingApp will display additional information in the default browser window.Important DisclosuresAll support, education and training services and materials on the TradeStation website are for informational purposes and to help customers learn more about how to use the power of TradeStation software and services. No type of trading or investment advice is being made, given or in any manner provided by any TradeStation affiliate. This material may also discuss in detail how TradeStation is designed to help you develop, test and implement trading strategies. However, TradeStation does not provide or suggest trading strategies. We offer you unique tools to help you design your own strategies and look at how they could have performed in the past. While we believe this is very valuable information, we caution you that simulated past performance of a trading strategy is no guarantee of its future performance or success. We also do not recommend or solicit the purchase or sale of any particular securities or derivative products. Any symbols referenced are used only for the purposes of the demonstration, as an example – not a recommendation. Finally, this material may discuss automated electronic order placement and execution. Please note that even though TradeStation has been designed to automate your trading strategies and deliver timely order placement, routing and execution, these things, as well as access to the system itself, may at times be delayed or even fail due to market volatility, quote delays, system and software errors, Internet traffic, outages and other factors.TradeStation Group, Inc. Affiliates: All proprietary technology in TradeStation is owned by TradeStation Technologies, Inc. Equities, equities options, and commodity futures products and services are offered by TradeStation Securities, Inc. (Member NYSE, FINRA, CME and SIPC). TradeStation Securities, Inc.’s SIPC coverage is available only for equities and equities options accounts. ................
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