Chapter 3 MB Trading and the Trade Processor
WizeVest Trade Processor User Guide
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accepts Market on Open orders between 8:00 am and 9:28 am Eastern. Orders placed
after that time, within market hours are automatically converted to Market Orders.
•
Stop Loss
—When enabled, all new trades will also submit a stop loss broker
order for the percentage set from the entry price. If that level is hit at the broker,
the position will exit rather than waiting for an WizeVest closing order. Stop loss
orders may be viewed in the MBT Orders tab or in the Stop Loss column.
Exposure
The Trade Processor calculates the exposure as the total equity of open MBT
positions minus the equity that is expected to be freed by closing orders. It will only
allow new opening orders on symbols where the expected investment will not exceed
the specified Max Equity setting.
•
Max Equity%
—Specify the maximum equity that can be used by the Trade
Processor.
Ordering Methods with MB Trading
There are two methods for setting up the Trade Settings window when using MB
Trading. You should determine which method to use according to when you plan to
run the Trade Processor.
Method 1: Market on Open Orders
Use method one when the orders will be submitted prior to market open using Market
on Open Orders.
1. Set the order submission start time to any time that is prior to market open. MB
Trading only accepts MOO orders between 8:00 a.m. and 9:28 a.m. Eastern. The
Order Submission start time must be in this range to submit MOO orders.
2. MB Trading does not receive any orders after the market close. Set order
submission end time no later than 4:00 p.m. Eastern time.
3. Start the Trade Processor prior to the time set in step 2.
Method 2: Market Orders
Use method two when orders will be submitted inside of market hours.
1. Set Order Submission start (Between) time to a time 9:30 a.m. Eastern and 10:00
a.m. Market orders can be submitted anytime after 9:30 a.m.
