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The Price and Size Wands

The Price Wand and Size Wand help you to modify the order price and order quantity using just your mouse. Wands become active when you click and hold the mouse in the Lmt Price or Quantity field on an order line.

To use the price wand

  1. Create a Limit order. The Lmt Price field populates with the best bid or ask price.
  2. Click and hold your mouse in the Lmt Price field to invoke the price wand.
  3. Select a new limit price and release the mouse.

 

Note: The top of the wand ladder includes MARKET; the bottom is VWAP. These selections change your order type to a MARKET or VWAP order to use the market or vwap price.

The prices in the wand ladder are created using the market price plus/minus the price increment.

To modify increments in a wand

 

  1. On the Edit menu, select Global Configuration.
  2. Expand the Order category in the left pane, and select General.
  3. In the right panel, check Big scale prices or Big scale sizes to increase the price/size increment used in the wand.

To allow penny increments for US Options in Price wand

 

  1. On the Edit menu, select Global Configuration.
  2. In the Configuration category in the left pane, select Display.
  3. Check the option to Use penny increments in price wand for US options.

Important Disclosures