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Types of orders available in paper trading account? Rate this Topic:
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Typhoon Flyer
Posted : Monday, February 8, 2016 11:22:07 PM
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Joined: 1/22/2016
Posts: 9

Don't see a forum for V16 so I'm asking here.  Have searched various places (PDF manual, this forum & website) and can't find any explanations of the order options in the fake "paper" trading account I set up in TC2000.  I'm specifically looking for how to enter short sales and buybacks.  Do I use the normal sell and buy orders (will TC2000 figure out what I'm doing?) or are there special choices I just haven't found yet?  Thanks.

Bruce_L
Posted : Tuesday, February 9, 2016 9:37:26 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You can use sell when you don't have a long position for an equity to go short.

You can use buy when you are in a short to exit. You may be beter off using the close option to buyback though. If you just place a buy order, there is a chance you could end up long or still short if you don't pay attention to how many shares you are purchasing.

There really isn't anything in the way of documentation for the paper trading feature yet.



-Bruce
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Typhoon Flyer
Posted : Tuesday, February 9, 2016 5:38:33 PM
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Joined: 1/22/2016
Posts: 9

Thanks

Typhoon Flyer
Posted : Wednesday, February 10, 2016 11:53:58 AM
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Joined: 1/22/2016
Posts: 9

Oops, maybe I should have asked.  How do I close it without buying the shares back?  Don't see any choice for that.

Bruce_L
Posted : Wednesday, February 10, 2016 12:10:01 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

If you are actually in a position there should be options for Buy, Sell and Close. Creating an order with the Close option to close the position will buy the shares back if you are short and sell the shares if you are long.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Typhoon Flyer
Posted : Wednesday, February 10, 2016 9:05:21 PM
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Joined: 1/22/2016
Posts: 9

I only have Buy and Sell bracketing the symbol in the title bar.  When I select the Trading menu item and look at Order Templates there are only various ones for Buy and Sell.  I don't see the word "Close" or anything similar.  Where is this option supposed to be?

Bruce_L
Posted : Thursday, February 11, 2016 8:54:32 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

It should be along the bottom of the chart to the right of Buy and Sell in TC2000 v16, but only if you are actually in a position.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Typhoon Flyer
Posted : Thursday, February 11, 2016 8:45:52 PM
Registered User
Joined: 1/22/2016
Posts: 9

Ahhhh....in the left lower corner!  I was distracted by the Buy/Sell links in the title bar and the items under the Trading menu.  Thanks again.  Just a suggestion for the future - they could add Close to those two other areas and it would be more obvious, especially since none of it is documented.  Overall I'm very pleased with this product.

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