Displays the most important information related to your currently held positions and open orders such as direction, pricing and volume. It allows you to structure synthetic, multi-security positions you have in your trading portfolio so that they are presented in the most efficient and common sense way.
Information Fields
The general principles of the Order Displayer operation and the meaning of its columns and rows are similar for both of its modes. The Stealth© Order Displayer Form has two types of information rows:
Open Positions Attributes
Orders Attributes
The information fields will have different meanings depending on whether you are looking at the open position information, or at the order you are about to transmit, or at an already open order). The header row is divided into two lines.
The top line has the names of the information fields that are related to open positions.
The bottom line has the names that are related to the orders fields.
The fields in the row represent the information that is either related to an open position in your trading portfolio or to an order.
There are two rows of information:
Open QCOM position
Open “Buy-to-Cover” order
Symbol
The Symbol column is related to the open position and the orders that are directly underneath it. The QCOM symbol is related to the open stock position and the open order that is related to that open position. All of the orders related to a security appear directly underneath it and the orders are arranged from top to bottom, ranked by their limit price levels. Therefore, the closer a price is to the current price of the security, the higher it will appear in the hierarchy of the orders.
Position
The Position column is related to your currently held positions. There are no information fields in the order rows that are related to this column. The numbers in this column appear either in two colors:
Dark orange with a minus sign – number in this column represents the amount of shares/contracts that you are currently holding short. In the example above the position is -100, which means 100 shares short position in QCOM.
Green – position is long, with the number of shares represented by the green number. You can also have a 0 number in white, which means you do not hold a position in the security you are looking at (i.e., you are flat for this security).
AvgPx and Action
AvgPx is related to the open position. In the example above, it would be a short position in QCOM).
The numbers in this column related to open positions represent the average price at which you are currently holding this particular position. The average price is calculated as the cost per share that your opened position currently has as the result of all of your Buy/Sell transactions in this underlying security. The average cost is used to calculate the P&L of your position and it is constantly verified by the costs provided via your back office account API.
Example: If you 100 shares of RIMM at $71.00 a share and then you bought another 100 shares of that security at $70.00 a share, your average cost will be $70.50 plus the round trip commissions that you paid per share according to your broker’s commission rate. The reduction of the position (selling off portion of your long position or covering some of your short shares) will not change the average price value.
If you are not holding any position in the security that you are displaying in a particular row, the number under this column will be 0.
Action
The Action heading of the same column relates to the order rows. The information fields that relate to an order row have one of the following statuses:
Buy- This appears if you are either trying to go long on the security that you currently do not have any position in, or if you are trying to increase your current long position
Buy Cover- This appears if your open order or the order that you are about to submit is to reduce your current short position or to completely cover it (go flat).
Sell-This appears when you are selling your entire long position or you are trying to reduce its size.
Short-This appears if you are either trying to go short on the security that you currently do not have any position in, or if you are trying to increase your current short position.
NetPL
This column also relates to position rows and order rows. It has green positive numbers or dark orange negative numbers in position rows. These numbers represent your daily locked net P&L, which includes any commission costs incurred. If the number in this column is positive and green, then you have, on average, made money on all of the trades related to the security that you have closed down during the current trading day. However, if the number in this column is negative and orange, then you have, on average, lost money on all the closed trades that occurred during the current trading day.
Quantity
Quantity relates to the order size. In the example above, the open order is 100 (i.e., you are currently buying 100 shares of QCOM). To change this field:
Click the field and type the new amount of shares/contracts, or
Click the field and press the Up or Down arrow keys on your keyboard. The order size will be changed in increments of 50 shares for stock orders or ETFs of 1 for the futures and options orders.
If you hold a position in the security that this field is related to, click the field to update the Limit Order Size window in the Order Placement Panel and make this size equal to the amount of shares you are currently holding in your open position. This enables you to exit your position very rapidly.
Daily P&L
This represents the sum of your locked profits and losses related to the security and your P&L open position for the same security, without taking commission costs into account. The color scheme of this column is similar to the Net PL column.
Limit Px
This relates to the order rows and represents the price at which your limit order is submitted or is about to be submitted. To change this field:
Click the field and type the new price, or
Click the field and press the Up or Down arrow keys on your keyboard. The order size will be changed by the minimum tick amount specified for this security.
Net UPL
This information is associated with the positions rows. The fields in this column represent the unrealized net P&L of your currently opened position. This value is calculated using commission costs and “the worst case scenario Exit” (i.e., sell at Bid price, or buy at Ask price). If you hold an open short position, then your net UPL value will be calculated using the following formula: Net UPL = (Absolute Value [Holding Shares]) x (Average Position Price - Current Ask Price – 2 x Commission Rate per share) In the example above, the net UPL is calculated using this formula: Net UPL = 100 x (39.48 – 39.46 – 2 x 0.01) = $0.50
Conversely, if you currently hold an open long position, your net UPL will be calculated using the following formula: Net UPL = (Absolute Value [Holding Shares]) x (Current Bid Price - Average Position Price – 2 x Commission Rate per share)
Bid Size
This column only relates to position rows and displays the combined size of the real time inside Bid that is registered in the book. This number is an important limitation when selling large amount of shares or contracts. The number appears in a dark orange color if the previous Bid size was higher then the current one. It appears in green if the Bid size has increased compared to the previous Bid size quote.
Bid Px
This field relates to positions rows and displays the current Bid price of the security for which you hold a position. This price is used to calculate the P&L values and can be used to update (once) the limit order price in the Order Placement Panel by clicking on it. When you click this field, you can stop the continuous Limit Order Price update, if it was enabled, by clicking either on the Current Bid Price window or on the Current Ask Price window in the Order Placement Panel.
Type
This field is located in the Bid Px column and is related to order rows. There are four modes:
Limit (default type)
Market
At Bid
At Ask
Ask Px
This field relates to positions rows, and displays the current Ask price of the security for which you hold a position. This price is used to calculate P&L values and can be used to update (once) the limit order price in the Order Placement Panel by clicking on it.
Click this field to stop the continuous Limit Order Price update if it was enabled when clicking on the Current Bid Price window or the Current Ask Price window in the Order Placement Panel.
Transmit
This field is located in the same column as the Ask Px column. The field allows you to submit the orders that you have prepared, or remove or modify any cancel/replace orders. This field stays active until you click it. If the order has already been transmitted and you have not changed the order size, price or its type, the field stays invisible (inactive).
Ask Size
This column only relates to position rows. The fields under this column display the combined size of the real time inside Ask that is registered in the book (i.e., lowest prices at which someone is willing to sell a security). This number is an important limitation when buying large amounts of shares or contracts (i.e., there may not be enough sellers to fill your requirement).
Cancel
This field is located in the Ask Size column and allows you to directly cancel orders already opened, or delete orders that have been prepared for submission. If the order row is filled with the order information, this field stays active until you click it. Clicking on this field is the fastest way to cancel an individual order.
Last PX
This column displays the last traded price for the security for which you hold a position.
High
This column indicates the highest price that a security has been traded at during the current trading day. This column relates to the position rows in the Order Displayer only.
Low
This column indicates the lowest price that a security has been traded at during the current trading day. This column relates to the position rows in the Order Displayer only.
TIF and Day
These fields are located in the Low column and relate to the Order rows. They indicate the duration of time that an order will stay active. The default value of this field is Day, which means that all the open orders that are sent through Stealth© will be automatically canceled at the end of the current trading day.
Change
This column relates to the position rows in the order displayer. It displays the percentage change in the security price compared to the previous day’s close price.
Dest
This field is located in the Change column and relates to the orders rows. It indicates which destination exchange an open or prepared order is routed to. The default value of this field is SMART (Smart Exchange) for stocks and ETFs, and GLOBEX for futures. SMART is the routing facility for Interactive Brokers.
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