How do I place a trade?

How do I place a trade?

Placing trades with Marketech is easy!

Watch a quick walk-through with sound here on how to place trades.




How to make a trade


1. Select the correct account

Click on the  icon in the top left-hand side of the screen to bring up the portfolio summary side menu.

Select the account you wish to trade with via the drop-down menu.




2. Choose an order

Click on the BUY or SELL icons located in the bottom right-hand corner depending on which type of trade you would like to initiate.


       A popup window will allow you to select your price type for the order.


Selecting the ‘Limit’ order will create an order at a price of your choosing.

Selecting the ‘Market’ order will create an order at the current market price.

 


Limit orders

If you select ‘Limit' a dotted blue line will appear on the chart.



You can click and drag the price line from the blue tab on the right-hand side of the chart or click the UP and DOWN icons for more accurate adjustments. This will increase or decrease the limit price to the desired level.

Once you are happy with the limit price click the  icon to proceed to the ‘Place Order’ screen.

Alternatively, clicking the  icon will cancel the trade.



3. Place the order

The ‘Place Order’ window allows you to adjust and confirm the details of your order before continuing.



The different sections of the ‘Place Order’ window allow you to:


Change the trading account you wish to use for the order.

     

Change the stock you wish to trade.

    

Change the Order type.

 

     

Change the Price type.

 

  1. Limit - a limit order is an order to buy or sell a stock at a specific price (the “limit price”). If the order is filled, it will only be at the specified limit price or better.
  2. Market - a market order is an order to buy or sell a stock at the market’s current best available price ie a SELL order will match the highest buyer and a BUY order will match the lowest seller.  A market order typically ensures immediate execution of the order, however, it is important to note that these are sent as market-to-limit orders.  Market orders are optimal in larger stocks with substantial volume and low volatility (price movement), when the primary goal is to execute the trade immediately. However, please be aware for stocks that are moving quickly, or have a low level of liquidity, Market-to-Limit orders convert to a limit price when they are entered, therefore they may not be completed at the desired price if there is insufficient volume at that price step.
  3. Stop - a stop order (or conditional order) allows you to trigger a buy or sell order once a certain price event (trigger price) has occurred. If the stock reaches the trigger price, the order becomes a market order and is filled at the specified price. If the stock fails to reach the trigger price, the order is not executed. Stop/conditional orders are only available to Focus subscribers. For more information on stop/conditional orders click here.
  
Change the Price.


      

Choose to trade by either quantity of shares or overall value.



The funds available to buy, or the shares available to sell.


Set the duration for the order.

  1. Good Till Cancelled - order will remain in the market until removed.
  2. DO (Day only) - order will remain in the market until the end of the current trading day and automatically cancel any unfilled order volume.
  3. GTD (Good Till Date) - order will remain in the market until specified date.

Choose which notifications you would like to receive.


Once you are satisfied with your order click on PLACE ORDER to progress to the confirmation screen.

Placing an order will transfer the order amount plus brokerage fees from ‘Available cash’ under ‘Summary’ into the ‘In use’ section of your trading account.


NOTE: this cash is now being held separately from your available cash to fulfil the order and will be unavailable to you to trade or transfer while the order is in place.


Once a Limit order has been placed the blue dotted line on the chart will change colour to:

GREEN for BUY orders

RED for SELL orders


Amending an order.

Orders can be amended by accessing the Portfolio Summary side-menu through the  icon at the top left of the screen.


You can view orders that have been placed on the bottom portion of the Portfolio Summary side menu under ‘Orders’.  Click the icon to the right of the order and select Amend order.


You can also amend your order by clicking directly on your order
 on the right side of the chart and then clicking on the amend/arrows or the cancel/trash icons.



Cancelling an order.

Orders can be cancelled by accessing the Portfolio Summary side-menu through the  icon at the top left of the screen.


You can view orders that have been placed on the bottom portion of the Portfolio Summary side menu under ‘Orders’.  Click the  icon to the right of the order and select Cancel order.

Problems placing an order?

  1. The stock may not be trading at this time eg trading halt/suspension.
  2. There may not be enough cash available in your 'Available cash' account to cover the trade and brokerage fees.
  3. You may already have entered the order.
  4. The stock may already have sold.

Changing the order ticket experience

Click the My details  icon in the top right and click Settings.

Under Order Ticket, select either Chart Mode


or Popup Mode

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