Order Options

Disclaimer: Trading involves significant financial risk and can result in substantial losses. Past performance does not guarantee future results. SageMaster does not provide financial advice. Users should ensure compliance with local regulations.

Written By Ehsaan XP

Last updated 4 months ago

Introduction

Order options in Strategy allow users to have more control over their trading strategy. This guide focuses on two key options: Order Type and Order Direction.

Order Type

Users can choose from three options for Order Type:

  • Market: accepts only market indicators.

  • Limit: accepts only limit indicators.

  • Neutral (default): Routes order type as specified in the original indicator.

Examples:

  • If you select "Market" and receive a Market indicator, it will route as a Market order. However, if you receive a Limit indicator, it will be ignored.

  • If you select "Limit" and receive a Limit indicator, it will route as a Limit order. However, if you receive a Market indicator, it will be ignored.

  • If you select "Neutral" and receive a Market indicator, it will route as a Market order. If you receive a Limit indicator, it will route as a Limit order.

Order Direction

Users can choose from three options for Order Direction:

  • Buy: Only routes Buy indicators, ignores Sell indicators.

  • Sell: Only routes Sell indicators, ignores Buy indicators.

  • Neutral (default): Routes both Buy and Sell indicators.

Examples:

  • If you select "Buy" and receive a Buy indicator, it will route the trade. If you receive a Sell indicator, it will be ignored.

  • If you select "Sell" and receive a Sell indicator, it will route the trade. If you receive a Buy indicator, it will be ignored.

  • If you select "Neutral" and receive either a Buy or Sell indicator, it will route the trade accordingly.

How to Set Up

  1. Navigate to the Strategy UI.

  2. After completing the 'Account/Pairs' section, find the new 'Order Options' section.

  3. For Order Direction, select from the dropdown: 'Neutral', 'Buy', or 'Sell'.

  4. For Order Type, select from the dropdown: 'Neutral', 'Market', or 'Limit'.

Benefits

  • Greater control over trading strategy

  • Potential reduction in costs associated with market spread and latency

  • Ability to focus on specific trade directions (Buy or Sell) if desired