Entry Order

An Entry order is an order to buy or sell when the market price reaches the price specified in the order.

An Entry Order is an order to buy or sell when the market price reaches the price specified in the order.

A Limit Entry order is an order to buy below or to sell above the current market price.

A Stop Entry order is an order to buy above or to sell below the current market price.

The period of time while an order remains active until it is executed or expires is defined by the Time In Force.
Entry orders have two Time In Force options: Good Until Cancelled (GTC) or Good Till Date (GTD).

A GTC order means that you want an order to remain active until you cancel it.

A GTD order means that you want an order to remain active until you cancel it or until the specified date and time. By default the time is set as end of the current trading day (16:59 New York time).

Both stop and limit entry orders can be trailing. When the market price moves in a certain direction, creating a trailing entry order is a better option than changing the order price every time the market moves. Trailing entry orders are more likely to be executed than regular entry orders. They work as follows:

Trailing limit entry order: if the order is to sell and the market price moves down, or if the order is to buy and the market price moves up by a trailing step, the order price also moves in the same direction by a trailing step. In the case of a regular entry order, the order price remains unchanged.

Trailing stop entry order: if the order is to buy and the market price moves down, or if the order is to sell and the market price moves up by a trailing step, the order price also moves in the same direction by a trailing step. In the case of a regular entry orders, the order price remains unchanged.

By default the option to make entry orders trailing is disabled. To enable it, on the System menu, click Options, and then set the option Trailing entry orders enabled under General Trading to True.