Skip to main content

Terminal

Placing Orders

How to place market and pending orders in the Trade Wzrd terminal, including tick-based SL/TP for futures platforms.


The Order Panel in the bottom-right of the terminal is where you execute trades. It has two modes: Docked (compact bar) and Expanded (full panel).


Docked Mode

A compact bar with BUY/SELL buttons, a volume control, and a quick-expand toggle. Click the expand icon to switch to expanded mode.

Expanded Mode

The full order panel with all configuration options:

Section Purpose
Order Type Tabs Market, Limit, Stop
Buy/Sell Toggle Switch between buy and sell direction
Volume Lot size input or risk-based sizing
Entry Price Shown for pending orders only
SL/TP Configuration Stop loss and take profit settings
Execute Button Place the order

Order Types

Market Order

Buy or sell at the current market price. Select the Market tab, set your volume, configure SL/TP, and click Execute.

Limit Order

Place a pending order at a specified price. Select the Limit tab, set the entry price, volume, and SL/TP.

  • Buy Limit - buy at the specified price or lower
  • Sell Limit - sell at the specified price or higher

Stop Order

Place a pending order that triggers when price reaches the level. Select the Stop tab, set the entry price, volume, and SL/TP.

  • Buy Stop - buy when price rises to the level
  • Sell Stop - sell when price falls to the level

Futures Note: Pending orders (Limit/Stop) work on Tradovate/NinjaTrader in the terminal. However, pending orders are not yet supported via automation signals (BUYLIMIT, SELLLIMIT, BUYSTOP, SELLSTOP).


SL/TP Configuration

TPSL Type

Choose how SL and TP values are interpreted:

Forex Platforms (MT4, MT5, TradeLocker, cTrader, DXTrade)

Type Behavior
Price SL/TP are absolute price values (default)
Pips SL/TP are pip distances from entry price
Balance SL/TP are dollar amounts
Percentage SL/TP are percentage-based

Futures Platforms (Tradovate, NinjaTrader)

Type Behavior
Price SL/TP are absolute price values (default)
Ticks SL/TP are tick distances from entry price

Tick-Based SL/TP (Futures)

On futures platforms, SL/TP can be set in ticks from the entry price. One tick is the minimum price movement for the contract.

Example - E-mini S&P 500 (ES):

  • Tick size: 0.25 points ($12.50 per tick)
  • Entry at 5800.00
  • SL=4 ticks → 4 × 0.25 = 1.00 point → SL at 5799.00
  • TP=10 ticks → 10 × 0.25 = 2.50 points → TP at 5802.50

Example - E-mini Nasdaq (NQ):

  • Tick size: 0.25 points ($5.00 per tick)
  • Entry at 20500.00
  • SL=8 ticks → 8 × 0.25 = 2.00 points → SL at 20498.00
  • TP=20 ticks → 20 × 0.25 = 5.00 points → TP at 20505.00

How Brackets Work on Futures

On forex platforms, SL and TP are fields on the position. On futures platforms (Tradovate/NinjaTrader), SL and TP are separate bracket orders attached to the position via OSO (Order Sends Order):

  1. When you open a position with SL/TP, two additional orders are placed
  2. If the SL order fills, the TP order is automatically cancelled
  3. If the TP order fills, the SL order is automatically cancelled
  4. If you close the position manually, all bracket orders are automatically cancelled

This is handled transparently - the terminal UI shows SL/TP on the position card just like forex, but the underlying mechanism is different.


Volume Sizing

Fixed Lot

Enter a specific lot size. The minimum and maximum depend on the broker and symbol.

Risk-Based Sizing

Enter a risk percentage. The lot size is calculated based on:

  • Your account balance
  • The SL distance (in pips or ticks)
  • The symbol’s pip/tick value

Works on both forex and futures platforms. Example: RISK=1 with a 50-pip SL risks 1% of your account balance.


Platform-Specific Behavior

Feature Forex (MT4/MT5/TradeLocker/cTrader/DXTrade) Futures (Tradovate/NinjaTrader)
Market orders Supported Supported
Pending orders Supported Supported in terminal, not yet in automation signals
SL/TP type Price, Pips, Balance, Percentage Price, Ticks
SL/TP mechanism Fields on the position Separate bracket orders (OSO)
Magic number Supported Not supported
Comment Supported Not supported
Symbol format Broker-specific (e.g., EURUSDm) Base symbol (e.g., ES, NQ)

Symbol Format (Futures)

Futures symbols use the base symbol without month/year codes. The platform automatically resolves to the front-month contract:

You Enter Platform Resolves To
ES E-mini S&P 500 front month (e.g., ESM6)
NQ E-mini Nasdaq front month
MES Micro E-mini S&P 500 front month
MNQ Micro E-mini Nasdaq front month
CL Crude Oil front month
GC Gold front month

Execution Feedback

After placing an order:

  • Success notification shows symbol, direction, volume, and entry price
  • Sound effect plays (buy or sell sound based on direction)
  • The new position appears immediately in the Active tab of the Positions Panel
  • Account stats (balance, equity, margin) update in real-time

If execution fails, an error notification explains the reason (insufficient margin, invalid volume, market closed, etc.).