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Manage orders

Marketcetera supports traders at every step of order execution. In these topics, read about how to use Marketcetera to place, monitor, and view filled orders. Each action to manage orders starts from the Trade menu.

Place an order​

Orders start with tickets, instructions for brokers to buy or sell an asset.

To place an order, go to the top menu and select Trade > Order Tickets. Then follow these steps:

  1. Select the parameters for the trade you want to execute.

    Some parameters are optional, and others are conditional on the type of order. To to configure all order parameters, refer to the Order reference.

  2. After you have confirmed the trade parameters, select Send. If sending succeeds, track it from Trade > View Fix Messages.

    If the broker accepts the order, it stays in the Open Orders pane until it's filed. After it fills, view it in the Fills pane.

Monitor an order​

No matter the outcome, every order has a set of FIX messages that inform about its status through the order execution.

To view Fix messages, follow these steps:

  1. From the top menu, select Trade > Fix messages.
  2. Use the column headers to sort orders. You have many ways to find an order. For example:
    • To find recent orders, sort by Transact Time and Sending time
    • To find a specific order, sort by OrdId
    • To find canceled orders, sort by OrdStatus.

Manage open orders​

Some time always passes between when a trader makes an order and when the broker fills it. During this period, an order is Open. Limit orders especially might remain open for some time.

While an order is open, you can review, replace, or cancel it. To monitor open orders, follow these steps:

  1. From the top menu, select Trade > Open orders. This opens the Open Orders pane.
  2. Sort orders with the column headings.
  3. To further explore an order, right-click its row, then select View Fix Message Details. You can also copy the row's data to your clipboard.

To modify an open order:

  1. Right-click the order row.

  2. Select either Replace or Cancel.

    A canceled order is immediately removed from the row. If you want to replace an order, Marketcetera opens a new pane to replace the order. The process is the same as Place an Order.

View filled orders​

After an order is filled, view it from the Fills pane.

  1. From the top menu, select Trade > Fills. This opens the Fills pane.
  2. Sort orders with the column headings.
  3. To further explore an order, right-click its row, then select View Fix Message Details. You can also copy the row's data to your clipboard.

To view high-level aggregated statistics about your filled orders, select Trade > Average price.