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Getting Started with Trading and the TradeStation Desktop

®

20090707-A

TradeStation Securities
®

Member NYSE, FINRA, NFA and SIPC

Getting Started with Trading and the TradeStation Desktop

Important Information and Disclaimer:
TradeStation Securities, Inc. seeks to serve institutional and active traders. Please be advised that active trading is generally not appropriate for someone of limited resources, limited investment or trading experience, or low risk tolerance, or who is not willing to risk at least $50,000 of capital. This book discusses in detail how TradeStation is designed to help you develop and test 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 securities derivative products. Any securities symbols referenced in this book are used only for the purposes of the demonstration, as an example; not a recommendation. Finally, this book shall 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. All proprietary technology in TradeStation is owned by TradeStation Technologies, Inc., an affiliate of TradeStation Securities, Inc. The order execution services accessible from within TradeStation are provided by TradeStation Securities, Inc. pursuant to a technology license from its affiliate and its authority as a registered broker-dealer and futures commission merchant. All other features and functions ® ® of TradeStation and EasyLanguage are registered trademarks of TradeStation Technologies, Inc. “TradeStation”, as used in this document, should be understood in the foregoing context.

Option Risk Disclosure
Option trading carries a high degree of risk. Purchasers and sellers of options should familiarize themselves with option trading theory and pricing, and all associated risk factors. Please read the Characteristics and Risks of Standardized Options available from the Options Clearing Corporation website: http://www.optionsclearing.com/publications/risks/riskstoc.pdf or by writing TradeStation Securities, 8050 SW 10 Street, Suite 2000, Plantation, FL 33324. Copyright © 2002-2009 TradeStation Technologies, Inc. All rights reserved. Licensed to its affiliate, TradeStation Securities, Inc. (Member NYSE, FINRA, NFA and SIPC)

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Getting Started with Trading and the TradeStation Desktop

Table of Contents
TradeStation Desktop ................................................................................................................................. 1 Live Trading vs. Simulated Trading .......................................................................................................... 1 Desktop Components ............................................................................................................................... 2 Workspaces and Windows ....................................................................................................................... 3 Copying and Pasting Windows ................................................................................................................. 4 Managing Windows in a Workspace ........................................................................................................ 4 Multiple Desktops and Multiple Monitors .................................................................................................. 5 Backup / Restore ...................................................................................................................................... 6 Manual Order Placement ............................................................................................................................ 7 TradeStation Order Bar ............................................................................................................................ 7 Top row - Order Information Fields ...................................................................................................... 7 Second row – Order Placement Buttons .............................................................................................. 8 Third row – Market Information and Messages .................................................................................... 8 Advanced Order Features .................................................................................................................... 9 Market Depth Window ............................................................................................................................ 10 Matrix ...................................................................................................................................................... 11 Matrix Window Geography ................................................................................................................. 12 Placing Orders from the Matrix Window ............................................................................................. 13 OCO/OSO Orders ................................................................................................................................... 14 Setting Order Entry Preferences............................................................................................................. 15 Stop/If Touched Trigger Types ............................................................................................................... 16 Order and Account Management ............................................................................................................ 17 Position Graph Bar ................................................................................................................................. 17 TradeManager ........................................................................................................................................ 18 Account Orders and Positions in Charting .............................................................................................. 19 TradeManager Analysis .......................................................................................................................... 21 Macros ........................................................................................................................................................ 22 Command Line and Order Entry Macros ................................................................................................ 22 Hot Keys and Toolbar Icons ................................................................................................................... 23 TradeStation Support Resources ............................................................................................................ 24 Using the TradeStation Help................................................................................................................... 25 Using the TradeStation Support Center ................................................................................................. 26 Tutorials, Seminars and Books ............................................................................................................... 27 Recommended Learning Resources ....................................................................................................... 29 Online Tutorials ....................................................................................................................................... 29 LiveOnTheWeb Seminars....................................................................................................................... 29 QuickTips ................................................................................................................................................ 29

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click on the Simulated Trading button. When logged on to Live Trading. 1 .Getting Started with Trading and the TradeStation Desktop TradeStation Desktop Live Trading vs. To switch from Simulated Trading to Live Trading or vice versa. any orders placed will not be real nor will any profits or losses be real. When logging on to Simulated Trading. The Live Trading button will log you in to your real funded brokerage accounts. The Status Bar displays “Trading: SIM” in light blue to confirm you are using simulated trading. Your account numbers should start with the letters “SIM” to confirm that you are using simulated accounts. trades will be real and profit and losses will affect your funds. Simulated Trading The TradeStation Network Logon dialog allows you to choose whether to trade in your actual brokerage accounts or on a trading simulator. the confirmation window below is displayed. the Status Bar shows “Trading: Live” in green. double-click on the “Trading” or “Data” indicators on the Status Bar to log off the TradeStation Network. To practice trading with simulated accounts. Double-click again to return to the Logon dialog.

Shortcut Bar Tools: Add windows to your workspace. 2 . EasyLanguage: Access EasyLanguage PowerEditor and documents. Note: Desktop elements may be removed or enabled using the View Menu. Workspace Area Desktop area for creating and displaying windows: charts. etc. Toolbar Buttons for accessing tools specific to the currently selected window. lock and unlock manual order-entry tools. Help: Access support resources. Order Bar Used for manually placing orders in your TradeStation brokerage accounts. Status Bar Current summary of your brokerage account as well as network connection status.Getting Started with Trading and the TradeStation Desktop Desktop Components Menu Bar Tool Bar Order Bar Position Graph Bar Shortcut Bar Workspace Area Status Bar Menu Bar Drop-down menus to access general program features and features related to the currently selected window. quotes. Position Graph Bar Displays the status of positions in your TradeStation brokerage accounts.

3 . and so on. Save Workspace As…. Workspace tabs TradeStation displays a tab for each open workspace. and Move Workspace. To create a New Workspace click on File – New – Workspace menu sequence. the workspace containing the window with the Alert or Strategy must be open. a group of stocks. it is blank. TradeStation includes sample workspaces so you can get an idea of how they look. In fact. Right-click on any of the workspace tabs and use the shortcut menu to create. and move workspaces. You then add windows to the workspace—Chart Analysis. each workspace is a file containing the windows you have placed in it. Save All Workspaces. you can create additional workspaces. Create your workspaces so that they help you organize your trading ideas. save. Save Workspace. forex or any other information that you want to view together. Right-click menu Note: For an Alert to be triggered or Strategy Automation to be active. When you want to analyze other stocks. When you first create a workspace. RadarScreen. You can create workspaces with any variety of windows for a single stock. You may click these tabs to switch between them. Matrix. or markets. an industry. and want to keep your ideas separate. save and re-open as a group. You may also click-and-drag workspace tabs to change their order.Getting Started with Trading and the TradeStation Desktop Workspaces and Windows Workspaces are groups of TradeStation windows that you want to view. close. Other useful functions from the File menu are: Open Workspace. futures. industries.

To restore the window to its original size. Other options in this menu are: Arrange Horizontally. right above the Workspace tabs. The Paste Window command will place that window into the active workspace. click the second (lower) Restore Down button at the top right corner of the TradeStation Desktop. You may click and drag any of the side borders of a window to resize it. Arrange Vertically. These commands are available from both the Edit menu and right mouse-button shortcut menu for each window. Maximized windows cover the whole workspace area and other open windows are behind it. clicking and dragging the corners of the window will resize the width and height of the window simultaneously. The copy is fully functional and may be edited or saved in the same ways as any other window. click on any of them to restore it and make it the active window. Move Windows Click and drag the title bar of a window to move it to another location within the workspace. Click on Window from the menu bar to see a list of windows in the workspace. Arrange Windows Click on Window – Arrange All menu sequence to evenly resize all open windows and arrange them to fill the whole workspace area. applied Analysis Techniques or columns. and any window formatting settings.Getting Started with Trading and the TradeStation Desktop Copying and Pasting Windows You may copy and paste windows within a workspace or from one workspace to another. 4 . Maximize and Minimize Windows To maximize a window click the Maximize button on the top right corner of the window. Note: Strategy Automation is automatically disabled in a Chart Analysis window that is being pasted. and Cascade. The Copy Window command makes an exact duplicate of any TradeStation window including symbol settings. Minimized windows appear as icons at the bottom of the workspace. Managing Windows in a Workspace Resize Windows All windows in TradeStation are created using a default size.

Save All Desktops. Once installation is complete.Getting Started with Trading and the TradeStation Desktop Multiple Desktops and Multiple Monitors TradeStation allows you to create multiple instances of the TradeStation desktop.Save Desktop As…. When you first install TradeStation.Save Desktop File . TradeStation should open a new desktop on each of the monitors selected. All workspaces associated with this desktop will open. To open a saved desktop. To create an additional TradeStation Desktop. The new desktop should automatically open on any available monitor. and then click the desktop’s title bar and drag it to the desired monitor. Each TradeStation desktop may then be placed on any of the monitors connected to your computer. each with its associated workspaces. You may open as many additional desktops as needed. click on File – New – Desktop menu sequence. click on File – Close Desktop menu sequence or click button on the top right corner of the desktop. Use these menu sequences: File . If it opens on the incorrect monitor. Desktops may also be saved. To close a desktop. or File . the installation process will recognize all monitors connected to your computer and will prompt you to select how many monitors to use for TradeStation. on the “Close” 5 . click on File – Open Desktop menu sequence. Each desktop is a complete version of TradeStation with access to all of its features. so that you can retrieve the desktops when needed. click on button located between the “Minimize” and “Close” buttons on the top the “Restore Down” right corner of the desktop.

04. A checkmark next to each component indicates that it will be restored. This is useful to save custom configurations and to efficiently move settings between computers or to a newer installed version.00. The archive file is stored by default in C:\Program Files\TradeStation Archives directory. use the File – Backup/Restore TradeStation menu sequence and choose the Backup TradeStation… sub-menu.Getting Started with Trading and the TradeStation Desktop Backup / Restore The TradeStation backup feature makes it easy to save all of the changes you may have made while working with workspaces.4. it is recommended that you not perform backups and restores during your regular trading hours. choose the Restore TradeStation Archive… option from the File – Backup/Restore TradeStation menu sequence. Backup archive files may be created as needed or they may be generated automatically on a regular schedule. To restore saved data. To create a backup. templates. 2009 at 9:10 am. and created on March 27. Therefore.1683 – 2009-03-27 0910)” means that it was created using the Monthly backup configuration. an archive file named “Monthly (8. The archive file name is made up of the backup configuration name selected from the drop-down at the top of the dialog. Browse to find the name of the archive file you would like to restore. place a check mark next to those components that you want to include in a specific archive. For example. the TradeStation version number. using TradeStation version 8. Note: TradeStation stops updating during a backup or restore cycle and automatically reconnects when completed. You may choose a different location by clicking on the Browse… button. and dialogs into a single archive file. 6 . and the date and time. From the TradeStation Backup dialog.

The Options tab of the Order Bar includes access to spread orders. Stop Price: stop price for Stop Limit and Stop Market orders. or split. and selecting the most viable route for each order. Route: path of execution for an order. Quantity: number of shares or contracts for the order. futures or forex symbol. futures and forex. or buttons to increase or (Position): fills the Quantity box with your current open position for the selected symbol. : automatically sets stop price to settings such as join. or buttons to increase or : automatically sets limit price to settings such as join. option. direct-access order routing technology. It is designed to simplify your order placement by examining all available order routes. • • Duration: length of time the order will remain valid in the market. or split. Stop Limit and Stop Market. options. Account No. use the decrease the limit price incrementally. improve.Order Information Fields • • • • • • • • • • Symbol: stock. Notes: Order information fields will vary for equities. routes. 7 . improve. Intelligent order routing is TradeStation's proprietary. based on your order conditions. Market. all order routes offered by TradeStation are direct-access routes. Limit Price: limit price for Limit and Stop Limit orders. use the decrease the quantity incrementally. Some combinations of orders. Order Type: the four basic order types are Limit.Getting Started with Trading and the TradeStation Desktop Manual Order Placement TradeStation Order Bar Top row . advanced order settings and durations may be mutually exclusive.: account for which the order is entered. #/$: use to change quantity from shares/contracts (#) to currency ($).

also used to view all open orders. Sell to Close. A: Current Ask for selected symbol. click to populate Limit and Stop price fields. Sell to Open. sends a sell order (to liquidate a long position). sends an order to sell short (establish a short position). L: Current Last trade price for selected symbol. Show Only. click to populate Limit and Stop price fields. and Notes: The Futures and Forex tabs of the Order Bar have only Buy and Sell order-placement buttons. displays a drop-down list that allows you to cancel as well as cancel/replace orders. sends an order to buy to cover (cover a short position). Route. creates an Order Cancels Order or Order Sends Order from an OCO/OSO template or using custom parameters. click to populate Limit and Stop price fields. Message Line: last message regarding orders sent/received to/from the TradeStation network. 8 .Getting Started with Trading and the TradeStation Desktop Second row – Order Placement Buttons • • • • • • • • • Peg. and Buy to Close orderplacement buttons. Order Type. displays TradeStation’s Advanced order settings such as Trailing Stop. Third row – Market Information and Messages • • • • B: Current Bid for selected symbol. The Options tab of the Order Bar has Buy to Open. stages an order in the TradeManager for later use. sends a buy order (to establish long position). sets the Quantity. and Duration fields back to their default values.

Non-display: order will not be reflected in either the Market Depth display or ECN books. bypassing all market makers. All or None (options only): order will be filled in its entirety or not at all. Selecting “Intelligent” route allows TradeStation to automatically choose the route that offers the options you selected. • TradeStation Advanced Order Features • • • • Activation Rule: allows you to determine when an order will become active based on specified Time and/or Price conditions. Notes: Advanced options will change based on your order route. 9 . order is held until a counterparty bids or offers to match or beat your offer or bid. If Touched: lets you specify a price that. allows the reflection of a lower Bid price or a higher Ask price than you might ultimately be willing to accept.Getting Started with Trading and the TradeStation Desktop Advanced Order Features ECN Advanced Order Features (Requires the use of Limit or Stop Limit for Order Type) • • • • Show Only (a. orders are matched with the ARCA book or immediately routed for execution to a select group of market participants. Advanced orders on the Options.k. Trailing Stop: Used with a Stop Market order type to set a trailing stop of a specified number of points or percentage from the current price. ECN Sweep: routes limit orders to ECNs only. if touched. will place the selected type of order. Futures and Forex tabs of the Order Bar contain a subset of those features found under Equities.a Reserve): displays only the specified number of shares at a time out of the total number of shares in the order. instead. Peg: creates a dynamic Limit order pegged to the best displayed bid/ask or the mid price between them. Discretionary: adds or subtracts the specified amount to or from the limit for a buy or sell order. This is only available for Market and Limit orders. limit price will never exceed the user specified limit in the limit price field.

Advanced Order Bar: advanced order settings for orders placed via the Trade Bar. • Detail Pane: displays Bid prices (left) and Ask prices (right) grouped by price level. Right: graph of the relative size or depth of Bid and Ask for each level. depending on your data subscriptions. Market Depth is available for stocks.Getting Started with Trading and the TradeStation Desktop Market Depth Window Quote Bar Summary Pane Detail Pane Trade Bar Advanced Order Bar • • Quote Bar: shows basic price and order information for specified symbol. Trade Bar: order-entry tools for the current symbol in the window. Your open positions and open orders for this symbol will be highlighted at the appropriate price row in the Detail Pane. electronic futures and options. • • Notes: Detail pane may be formatted to sort by Best Market and Time or Best Market and Size then Time. Summary Pane: Left: lists the Bid and Ask for each price level. 10 .

Matrix is automatically tied in to the TradeManager reflecting any open positions or active orders for the symbol.Getting Started with Trading and the TradeStation Desktop Matrix The Matrix window combines market information from the Market Depth window. Market Depth window. etc. Quote Bar Detail Pane Order Status Bar Trade Bar Advanced Order Bar 11 . and all the features and advanced features of the Order Bar. automated strategies. placed by any means (Order Bar. TradeManager information about your orders and positions. The Matrix also displays the day’s price information and includes Volume at price and VWAP (Volume Weighted Average Price).) in addition to those placed through the Matrix. You may place. cancel and cancel/replace orders directly in the Matrix window.

12 . • Orders: displays all open orders in the symbol. includes the share/contract volume of the last trade. Detail Pane Default columns displaying data at each price level: • P/L (USD): displays a scale consisting of the position's break-even point with profit and loss values in the currency of the account. . P/L in Symbol Currency is also available as an additional column in the Detail Pane. • Bid Size: displays current Bid Size for each price level. Order Status Bar Displays the last message sent or received for an order. Advanced Order Bar Advanced order settings for orders placed via the Trade Bar. buy orders will be preceded by a ‘B’ and sell orders by an ‘S’. position size is displayed in the Quote Bar. • Price: a column of prices.g. • Position (Avg Price): average price of the open position is highlighted across all columns. each open order cell displays two numbers: the number of shares/contracts filled followed by the number of shares/contracts still working on the order. o Open. depth is shown in parentheses. o Last: noted with a yellow background in the price cell. e.Getting Started with Trading and the TradeStation Desktop Matrix Window Geography Quote Bar The Quote Bar displays basic price and order information for the specified symbol. depth is shown in parentheses. The darker the shade. • Vol: number of shares/contracts traded at each price level. Notes: The Matrix Quote Bar and Detail Pane may be customized using the Format – Columns menu sequence for each section. in minimum increments for the symbol. • Vol Bars: color-shaded bars indicate volume at each price level during each of the day’s 30minute time periods. values are displayed only when there is an open position in the symbol. the earlier in the day the volume occurred.01 for stocks. • Ask Size: displays current Ask Size for each price level. o VWAP: VWAP (Volume Weighted Average Price) is noted with a small ‘v’ in the Price column. High and Low: noted with green lines at the appropriate price cells. Trade Bar Order-entry tools for the current symbol in the window. color-coded cells identify traded prices between the high and low of the day.

Limit. click on any active order in the Orders column to cancel it. then click the Sell Trl Stp button for Long positions or the Cover Trl Stp button for Short positions. 13 . To Place a Sell order. click on Buy Mkt or Short Mkt buttons from the Trade Bar.Multiple exit orders To place Profit Targets and Stops on open positions. Cancel orders To Cancel an Order. put a check mark in the checkbox for Attach OSO. Cancel All Offers. Reverse position Click on the Reverse button to reverse your current position from Long to Short. it will have the specified exits automatically attached to it. and Cancel All Orders. then click on the Place OCO Order button to place your orders. Buy and Sell orders To place a Buy order. and vice versa. select the number of targets and stops from the drop-down menu under the Place OCO Order button. See following page for additional information on OSO orders. In the drop-down menu button to select the type of exit orders you wish to attach. click in a Bid Size cell to place a Buy order at the price level for that row. Close position Click the Close button to immediately exit the current position by placing the appropriate market order. click the ellipsis adjust the quantities for your exits. Order Cancels Order . click and drag an active open order in the Order column from its current Limit or Stop price to the new Limit or Stop price. Market orders To place a Market order.Getting Started with Trading and the TradeStation Desktop Placing Orders from the Matrix Window Placing orders through the Matrix is as simple as clicking in the Bid Size or Ask Size column for the price at which you want to buy or sell on Stop. specify the trail amount by Pts or % and enter the amount in the Amt field. or Stop Limit. Click the ellipsis button to adjust the target and stop amounts. Order Sends Order – Entry order with attached exit(s) orders To automatically send your profit targets and stops with your entry order. Orders may also be cancelled using one of the three Cancel buttons in the Manage Order(s)/Position section of the Trade Bar: Cancel All Bids. Trailing Stops To place a Trailing Stop on an open position. and then proceed to place your entry order. click in an Ask Size cell to place a Sell order at the price level for that row. Cancel/Replace orders To cancel-replace an order. Once the entry order is placed. See following page for additional information on OCO orders.

A Bracket OCO consists of two or more exit orders for the same symbol. blue rows are Bracket OCO segments. 14 . • The Order Cancels Order & Order Sends Order – Order Bar is available from the TradeStation Order Bar by clicking the OCO/OSO button. partially or in full. Market Depth or Matrix using pre-formatted OCO/OSO Templates or by defining custom order segments. Each row in the grid represents an order segment and the indent level indicates that segments are controlled by the next higher level. If one of the orders is filled only partially. the other order is cancelled. and white are individual OSO segments. Bracket OCO. Rows are color coded to specify their type.An OCO order consists of a group of two or more orders that are linked so that if one of the orders is filled. the quantity of the other order is automatically decremented by the same amount. and OSO (Order Sends Order) are types of conditional orders that can be placed from the TradeStation Order Bar. For example. where yellow rows are OCO segments. and the limit order is partially filled for 500 shares. the stop remains open and automatically decrements to 500 shares to match the remaining open position. Bracket OCO . When one of the orders is filled.An OSO order consists of a primary order that will send one or more secondary orders when the primary order is filled. if you have a sell limit order for 1000 shares and a sell stop order for 1000 shares. then all of the other orders are cancelled.Getting Started with Trading and the TradeStation Desktop OCO/OSO Orders OCO (Order Cancels Order). • • Order Cancels Order (OCO) . and clicking Custom OCO/OSO Order. Order Sends Order (OSO) .

It may be accessed using the File – Preferences menu sequence or from the shortcut menu by right-clicking in the Order Bar. Select Validations & Confirms on the left navigation pane for each asset class to disable confirmation windows that appear when placing orders from the Matrix. or Order Entry Macros. 15 . Validations will generate a warning message only if your order is outside the specified range of values. or Market Depth windows. You may uncheck any of these options to disable these warning messages.Getting Started with Trading and the TradeStation Desktop Setting Order Entry Preferences Default order entry settings may be customized in the Order Entry Preferences dialog. Order Bar. Matrix. Market Depth.

Buy/Cover Orders: One Bid tick must print within your stop price to trigger your stop. Sell/Short Orders: Two consecutive Bid ticks must print within your stop price to trigger your stop Buy/Cover Orders: Two consecutive Bid ticks must print within your stop price to trigger your stop. Sell/Short Orders: Two Ask ticks must print within your stop price to trigger your stop. One trade tick within the National Best Bid or Offer must print within your stop price to trigger your stop. Buy/Cover Orders: Two consecutive Ask ticks must print within your stop price to trigger your stop. number. Two trade ticks must print within your stop price to trigger your stop. These settings may be accessed using the Triggers link for each asset class in the Order Entry Preferences dialog. Sell/Short Orders: One Ask tick must print within your stop price to trigger your stop. Sell/Short Orders: One Bid tick must print within your stop price to trigger your stop. Buy/Cover Orders: One Ask tick must print within your stop price to trigger your stop. Sell/Short Orders: Two Bid ticks must print within your stop price to trigger your stop. Buy/Cover Orders: Two Ask ticks must print within your stop price to trigger your stop. Type Single Trade Tick (STT) Single Trade Tick within NBBO (STTN) Single Bid/Ask Tick (SBA) Single Ask/Bid Tick (SAB) Double Trade Tick (DTT) Double Trade Tick within NBBO (DTTN) Description One trade tick must print within your stop price to trigger your stop. and pattern of ticks that will trigger the activation of a stop or if touched order. Buy/Cover Orders: Two Bid ticks must print within your stop price to trigger your stop. Two consecutive trade ticks must print within your stop price to trigger your stop.Getting Started with Trading and the TradeStation Desktop Stop/If Touched Trigger Types The trigger type allows you to specify the type. Two consecutive trade ticks within the National Best Bid or Offer must print within your stop price to trigger your stop. Sell/Short Orders: Two consecutive Ask ticks must print within your stop price to trigger your stop. Two trade ticks within the National Best Bid or Offer must print within your stop price to trigger your stop. Double Bid/Ask Tick (DBA) Double Ask/Bid Tick (DAB) Twice Trade Tick (TTT) Twice Trade Tick (TTTN) Twice Bid/Ask Tick (TBA) Twice Ask/Bid Tick (TAB) Note: Double refers to two consecutive ticks and Twice refers to two non-consecutive ticks in the same day. 16 .

A right mouse-button click on a Position Graph opens a menu which includes selections to close the position. Allowing the mouse pointer to hover over the Position Graph will generate a data tip of information about that position. or the last time you logged on to TradeStation. To customize the list of symbols displayed and the settings for the display of open positions. Displayed are the last and net change for a customizable list of symbols and Position Graphs illustrating the current profit or loss status of each of your open positions. The numbers to either side of the Position Graphs display the maximum Run-up and Draw-down since the position was opened. The plus sign “+” to the left of the symbol indicates Long positions. 17 . and from the menu click on Format Position Graph Bar.Getting Started with Trading and the TradeStation Desktop Order and Account Management Position Graph Bar The Position Graph Bar appears below the Order Bar by default. whichever occurred last. right-click in the background of the Position Graph Bar. whereas a minus sign “-“ indicates Short positions.

as displayed individually in the message line of the Order Bar. open orders cancelled. Strategy Positions: actual and hypothetical positions generated by strategies with automation enabled. Balances: real-time account-balance information. these may be edited directly in the TradeManager. 18 . Strategy Orders: actual and hypothetical orders generated by strategies with automation enabled. real-time and in a single window. tabbed at the bottom of the TradeManager window. Average Price: average prices of the day’s filled orders. Staged Orders: orders that you have prepared for placement but remain staged until you decide to place them. In addition.Getting Started with Trading and the TradeStation Desktop TradeManager The TradeManager window displays all your trade and account activity. Messages: a log of all the day’s order-related messages. The TradeManager information is displayed on nine pages. Market Depth or Matrix. and current positions closed directly from the TradeManager. Open Positions: all your open positions and their status. allows retrieval of historical orders. • • • • • • • • Orders: the day’s orders and their status. allows retrieval of historical average price information. Staged Orders may be sent.

Position entries show up as blue (long) or red (short) entry arrows and white arrows show where the positions were closed. Active and cancelled orders are marked with horizontal lines indicating the period during which they were active. On the Data tab uncheck the checkbox under the Status column. in a Chart Analysis window.Getting Started with Trading and the TradeStation Desktop Account Orders and Positions in Charting Account Orders and Positions displays your orders. and the order quantity. an initial for the order type. filled and cancelled. open. To disable this feature on all new Chart Analysis windows. uncheck the option to Automatically enable Account Orders & Positions on new Chart Analysis windows and for new data series at the bottom of the dialog. To disable the display of Account Orders and Positions. 19 . such as ‘L’ for limit order. right-click on the background of the Chart Analysis window and from the menu click on Format Account Orders and Positions….

20 . and the style and color in which they are displayed. You may also select which orders to display on Chart Analysis windows.Getting Started with Trading and the TradeStation Desktop The Format Account Orders & Positions dialog is accessible from the Format menu and from the right mouse-button shortcut menu.

21 . Click on the TradeManager Analysis icon from the Tools section of the Shortcut Bar to create the report. You may select the date range and the symbols (equities.Getting Started with Trading and the TradeStation Desktop TradeManager Analysis TradeStation also uses the information from the TradeManager to generate a detailed analysis of your actual trades. futures and forex) to include or remove from the analysis. options.

Getting Started with Trading and the TradeStation Desktop Macros Command Line and Order Entry Macros A Command Line Macro is a group of commands that are executed in sequence once the Macro is run. 22 . or can populate the Order Bar with the order information. click on the Run button on the right of the dialog. To run a Macro once it is selected. To access the Macros dialog. The Macros dialog will list built-in Command Line Macros and Order Entry Macros. For additional information on setting up custom Command Line Macros or Order Entry Macros click on Help – TradeStation Help. Click on any of these Macros and the Description box will display the command or sequence of commands that it executes. An Order Entry Macro contains order instructions that can be sent either directly to the market. click on View – Macros… menu sequence. You can create a Command Line Macro employing one or more of these commands. click on the Create… button and the Create Macro wizard will guide you through the steps. There are over 200 different commands that allow you to create and modify TradeStation windows. Also refer to Command Line Rules for information on how to use commands. Macros are listed under TradeStation Desktop on the Contents tab. bypassing the Order Bar. To create your own custom Macro.

From the Macros dialog. Click on the Toolbars… button from the Macros dialog to access the Customize toolbar dialog. and then click Assign at the bottom of the dialog. click on Help – TradeStation Help menu sequence. they will be assigned the default Macro button. or they can be assigned to a Toolbar button or Hot Key to increase the speed of performing a function or entering an order. You may add and/or remove other buttons from the toolbars displayed while the Customize dialog is open. To see these pre-assigned hot keys. click inside the Press new Hot Key: box. press the desired Hot Key on the keyboard. All built-in and custom Macros will be listed in this dialog. Many common commands have already been assigned to Hot Keys. click on Toolbars… or Hot Keys… to assign a shortcut to the Macro. Macros dialog.Getting Started with Trading and the TradeStation Desktop Hot Keys and Toolbar Icons Macros can be run from the Command Line. EasyLanguage. Once the desired button is selected. To assign a Hot Key to a Macro. find and click the Macro to highlight it. You may select a different button by clicking on Modify Button…. and you may also assign your favorite Command Line Macro or Order Entry Macro to Hot Keys. Toolbar buttons can also be used to run Macros. You may re-assign these if you choose. 23 . click-and-drag the button from the Commands box into any toolbar. Hot Keys are keys that execute a single command or Macro. Look for TradeStation Desktop – Hot Keys – Default TradeStation Layout.

24 . The Learning Center contains links to TradeStation Tutorials and other educational resources that explain the different features of the platform. The Learning Center may be accessed at anytime by using the Help – Learning Center menu sequence. These provide useful information on how to get started using TradeStation.Getting Started with Trading and the TradeStation Desktop TradeStation Support Resources New clients who log on to TradeStation for the first time will be greeted with the Learning Center and a welcome video that automatically starts playing when the platform is opened.

The TradeStation Help is your ready reference to descriptions of product features and detailed procedural instructions on their use. TradeStation Help includes definitions of EasyLanguage Analysis Techniques. Index. click on the Favorites tab and then click on the Add button at the bottom. Favorites: Create your own list of pages that you refer to frequently or wish to revisit. It is installed on your computer when you download and install TradeStation. you may click on any of the column headers to sort the list. Functions.Getting Started with Trading and the TradeStation Desktop Using the TradeStation Help The TradeStation Help is accessible from the Help menu. Index: The Index tab lists keywords and phrases to help guide you to related topics within the Help. Click the – to collapse a category. Click on a topic name to view the related topic. or Search tabs. then click Display to view the related topic. and from the Help section of the Shortcut Bar. 25 . Search: Use this tab to find occurrences of word(s) within help topics. To add topics to the Favorites tab. find the information using the Contents. TradeStation Help provides you with multiple ways to locate TradeStation information. Contents: This tab groups help topics by category. Type a keyword or select it from the list. In addition. Once a list of topics is displayed. You may remove topics by selecting the topic and then clicking on the Remove button. Click the + to the left of the purple books to expand a category. Once the topic information is displayed. and Strategies along with other conceptual topics relating to the use of the TradeStation platform.

Tutorials. Support: Discussion forums. contain links to sections of the Support Center. The Help section of the Shortcut bar (shown on the right).Getting Started with Trading and the TradeStation Desktop Using the TradeStation Support Center The TradeStation Support Center offers a variety of account and platform support resources. Seminars and Books: See next page. including access to balances. bypassing the main Support Center page. Trading Strategy Resources: The EasyLanguage Library and other analysis resources. and find out what is new in TradeStation as new versions are released. activity. 26 . and more. and Account Services. The navigation bar on the left has the following sections: • • • • • Account Services: Provides you the ability to open and manage accounts. Support Forums. and other account services. TradeStation Platform: Download a new version or reinstall TradeStation. These links will take you directly to those pages. such as TradeStation Training. and the Help menu. FAQs. positions. change features and services in your account.

etc. 27 . Note: Tutorials use a Flash plug-in and require that a properly configured version be installed on your system. To enhance your learning experience. Analysis Techniques. click the Online Tutorials header and select the title from the list that appears to the right. To start a tutorial. we encourage you to listen to the audio narration along with the video. The Online Tutorials are short audio-visual presentations designed to familiarize you with TradeStation's features: windows. Seminars and Books This section of the Support Center provides access to a range of TradeStation training resources for everyone from the new user to the experienced trader. strategy testing.Getting Started with Trading and the TradeStation Desktop Tutorials.

analysts. See how TradeStation's Matrix window combines order. class calendar. The LiveOnTheWeb header provides access to web-based classes on a variety of topics. Getting Started with TradeStation is a LiveOnTheWeb educational program designed to help you better utilize the power of TradeStation. TradeStation Books displays a variety of books. Live Classes and Events are held in our own offices and in major cities across the country. etc. Other LiveOnTheWeb presentations cover a range of topics from basic uses of TradeStation to more advanced concepts and EasyLanguage. To view a QuickTip. They are organized onto tabs labeled: • • • • • Essential Tools Market Analysis Strategy Trading EasyLanguage Special Events Note: Seminars require that a properly configured version of the Microsoft Media Player be installed on your system. given or in any manner provided by TradeStation Securities or its affiliates. in hard copy and digital formats. authors. advice or strategy is being made. The program is divided into three sessions.Getting Started with Trading and the TradeStation Desktop TradeStation QuickTips offer an easy way to learn about the many advanced features of TradeStation. The purpose of these classes and special events is to help you take full advantage of TradeStation features including advanced analysis and order execution capabilities. Here you will find descriptions of the classes. EasyLanguage. as well as strategy backtesting and automation. In the On-Demand Catalog you will find archived LiveOnTheWeb classes. No type of trading or investment recommendation. Find out how you can track your positions with TradeStation's realtime TradeManager. Each QuickTip is a short. you may do so in any order and as often as you like. Learn how to use TradeStation's Order Bar for manual order entry. and then how to automate your strategy orders. click on the Play button to the right of its description. on using TradeStation. Discover how to back-test your own trading strategies to simulate how they would have performed in the past. narrated video demonstration of a spotlighted feature. Click Schedule to see the list of upcoming presentations and register to attend. and on market topics. Some include conversations with noted guests: traders. education and training services and materials on the TradeStation Securities Web site are for informational purposes and to help customers learn more about how to use the power of TradeStation software and services and to help provide other customer support. including powerful advanced orders. Although we suggest that you view and participate in these sessions in sequence. and registration information. 28 . position and market information into a single order-entry and trade-management window. All support. each covering different aspects of using TradeStation.

Toolbar Icons.com/support/webinars/quicktips. and Hot Keys Placing Orders using the TradeStation Order Bar Understanding TradeStation’s Matrix window Using TradeStation’s OCO/OSO orders Using the TradeStation Support Center QuickTips Click the link below to access the QuickTips webpage: https://www.aspx • • • • • • • • • • • • • • • • Using Activation Rule Orders for Maximum Flexibility Placing Entry and Stop-Loss Orders Simultaneously Using Staged Orders for Speed and Convenience Customizing TradeStation Toolbars Backing up your workspaces and desktops in TradeStation Switch between live trading and simulated trading without leaving TradeStation Copy/Paste window feature is a real time-saver Creating TradeStation Desktops Stop and If Touched Triggers Protecting your work with TradeStation’s Backup/Restore utility Using and customizing Status Bar alerts Customizing the Order Bar Maximizing your desktop screen space Monitor open positions using the Position Graph Bar Placing and monitoring orders in the Market Depth window Monitor positions and Orders within a Chart 29 .Getting Started with Trading and the TradeStation Desktop Recommended Learning Resources Online Tutorials • • • • • • • • • TradeStation Desktop Overview Simulator Order Bar Matrix OCO and OSO Orders TradeManager TradeManager Analysis Market Depth Using the Support Center LiveOnTheWeb Seminars • • • • • • TradeStation Platform Introduction Creating Macros.tradestation.