The eight buttons - sell, cover, flatten, liquidate and cancel
Under BUY and SHORT sit eight more buttons. Out of the box, they are the exits and the emergency controls you need most. They work on the armed stock or on the whole account, as each one says. SELL LMT sells your whole long position in the armed stock, with a limit priced through the market.
In this video
The 30-second version
The same topic in thirty seconds, made for a phone screen.
Both videos use the desk in paper mode with made-up symbols and prices.
Read the transcript
Eight buttons, out of the box
Under BUY and SHORT sit eight more buttons. Out of the box, they are the exits and the emergency controls you need most. They work on the armed stock or on the whole account, as each one says.
Sell and cover
SELL LMT sells your whole long position in the armed stock, with a limit priced through the market. SELL LMT fifty percent sells half of it. COVER buys back your whole short position, and COVER fifty percent buys back half. The LMT in their names means a limit, which works in every session.
Each button has a size
Each button also has its own size, in shares or as a percentage of that position. SIZE is greyed on actions that take the whole position.
FLATTEN and LIQUIDATE
FLATTEN ALL closes every open position, fleet positions included. The automation stays armed, and the fleet keeps running. LIQUIDATE ALL is the full stop: it disarms both automatic engines and every fleet slot, cancels every open order, then closes every position.
The two cancels
CANCEL ALL UNFILLED asks your broker to cancel every working order on the account. Positions are not touched. CANCEL LAST UNFILLED cancels only the most recent working order this desk sent. In paper, it does not reach the broker. Use the cancels to remove resting orders you no longer want.
Which position each acts on
FLATTEN ALL, LIQUIDATE ALL and the two cancels act on the whole account, fleet included. The others act on the armed stock. With Ask before sending ticked, these whole-account buttons still ask first.
Make them yours
And all eight can be changed, in the HOTKEYS window: the action, your own label, colour, size, order type, offset and key. Each action is listed once in that table.