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Place TWAP, Iceberg and Trailing stop orders in EXANTE trading terminal

We've updated the trading terminal to version 5.152.3, adding these new features:

  • Trailing stop, TWAP and Iceberg order types are available in the Order tab;
  • the Chart now features aggregated trades.

Chart

We've changed the logic behind the chart markers, that display filled orders. Now, when you have more than 20 trades placed at a similar price, they are displayed on the chart as a pentagon resembling a tiny house (or two, if you bought and sold the instrument). To see the average price and the amount purchased and sold, simply hover a mouse pointer over the chart marker. With this change, charts will load quickly even for the most high-frequency trading.

Orders

We've added several new order types to the Order tab. Now they are available for the MICEX exchange (all new types) and for all Forex instruments (TWAP and trailing stop). We plan to add more exchanges, so keep an eye on our news feed.

Trailing Stop is a Stop Loss order that follows the price. Using a trailing stop you minimize losses without having to limit your profits.

When placing this type of order, you need to specify the quantity and price distance in the currency of the instrument. If the market moves in the direction you want, the stop order follows along and triggers only after the specified distance is passed against the desired movement.

For example, you may place a Trailing Stop order to buy with the price distance of 10 at the time when the share price was at $200 – Buy Trailing Stop 210. The market moves down by 2. Your order will follow it and will be automatically replaced at the new lower market price at the same price distance, that is, as the Buy Trailing Stop 208. Let’s say after that the price rек ккises by 4, meaning the market goes in a direction unfavorable to you. The bid will remain at the same level and the distance will be reduced to 6.

If the price continues to rise, and grows by 6 or more, the trailing stop triggers. If the price falls by less than 4, the order remains where it is. If the price falls even lower, the sliding stop will move to keep the distance of 10.

TWAP and Iceberg orders are similar in that they both allow implementing a strategy for buying (or selling) large quantities in multiple parts and vary in the ways they are executed.

TWAP is an abbreviation of the time-weighted average price. This order type requires you to specify the total desired quantity, the size of each part ("chunk") and an interval in milliseconds. Following this, the order will be split into parts of a specified size so that they are placed in turns at a given time interval at the market price.

Iceberg orders are named so because their bigger part remains invisible to other market participants, just like an iceberg is mostly hidden under water. This is a limit order for which you specify the total quantity, price and the visible part. Then we divide the order into several parts so that only the specified quantity would be seen in the Market Depth at the moment. Similarly to TWAP, the order is executed in sequential parts.

Upgrade your EXANTE terminal to try new order types in the demo mode and successfully implement them in live trading!

The information in this text is provided to you for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here.

Read more

Looking to invest in crypto, but don’t want any legal trouble? EXANTE Director of Sales for Europe and the CIS Guntars Pupelis will talk about the legal aspects of cryptocurrency investing at the conference Funds and cryptocurrencies: the Development and the Technology, set to take place on June 14 in Cyprus.

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