June 27, 2018
Reserve orders (iceberg orders)
Just the tip! When you are working on larger than normal orders, you may want to hide your full intent. If that is the case, the solution is as simple as changing the price type in your order ticket. The new Price Type choice is called Reserve and is added to the growing list of price types.
- To find the Reserve Price Type, bring up your order as you normally would, click on the Price Type drop down menu, and select Reserve.
- Choosing Reserve may alter your quantity—this is because this price type needs at least two full order lots: one to show and one to hide.
- For options, you need a quantity of at least two contracts; for stocks, you need at least two hundred shares.
- Once you determine your total quantity, you will see a new field in the Order Ticket labeled Display Quantity.
- Display Quantity will be the amount that is shown to the street.
- The difference between the Display Quantity and the total quantity will be the amount that the street does not see. The orders are sent to the street, and as soon as any part of the Display Quantity is filled, the quantity is refreshed and the total quantity is shown. The order is then processed the same as other orders.
Pattern day trades counter
If trading is a part of your day, then Day Trading is probably part of your life. Whether you love them or hate them, the pattern day trading rules can affect your trading. These rules determine the amount of funds needed in your account in order to participate in more margin leverage for the trading day. We are now displaying the number of round trips you made in a five-day rolling period.
- If you are in a margin account, the Day Trades counter will appear at the bottom of your account widget.
- This field will only show when you are in single account view.
- The Day Trades value will let you know how many day trades you have made in the five-day rolling period defined by FINRA 4210.
After hearing your encouraging feedback from our last Detail Tiles update, we decided to add another tile to your Orders page.
- The new Quote Tile can be found on all of your orders on the Orders page.
- You access this tile in the same manner, click on the bento box menu next to the symbol.
- The data in the Quote Tile is related to the actual order, whether it is a spread, single leg option, stock, etc.
We all know why we are here and what’s important to us: our positions! For that reason, we wanted to be sure that the Position page was concise as possible, yet rich with the information you need. We therefore removed the Totals from this page and have rolled all of the data associated with that row either to the Multiple position row or the top row.
- This is an improvement to the look and feel of the Positions page; it is not a feature you need to turn on or off.
- We consolidated rows so that when a position is expanded (and you see the stock and all associated option positions), the top level will show you all the information related to the underlying rows. In the case that you only have one option position, the data will be related to that option. This change saved an entire row of space per position, space that will quickly add up if you have several positions.