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The Trade order form allows you to focus in-depth on one trade and analyze/customize it. This is very helpful if you want to customize a trade from the scanner or test a trade you have manually.

After you finish analyzing the trade, you can:

1. Add the trade to the trade log (see knowledgebase article)
2. Send the trade to your broker (see the Send Trade to Broker article)

Usecases

Here are some of the use-cases you can use the Trade order form for:

• Track the trade in the Trade log: Adding a trade to the trade log allows you to track it and see how it develops over time. Also, after adding trades over time, you can improve your trading system. 
• Customize a trade from the scanner: Our scanner picks specific options for your trades. Sometimes you want to change them or see the tradeoffs between different options. You can do that in the trade order form.
• Analyze a trade manually: You can test a trade you have manually and see the PL profile, breakeven points on a chart, statistics, and more. 
• Analyze a trade in-depth: The trade order form is interactive and instant so that you can test different ideas quickly. Every time you make a change, you see all the information updated, and you can check the PL profile, breakeven points, statistics, and more. 

How to get to the Trade order form

In the scanner: Click on the result you want to analyze in the table, and from the details tab, click the 'trade' button.

Manually: Go to the 'trade log' tab and click 'new trade.'

Trade order form Sections

• Strategy + ticker - Here, you can pick the strategy and the ticker to analyze (at the moment, we only support strategies here)
• Definitions - Here, you can see information about what inputs the system expects.

• Option picker - In this section, you pick the options by changing the strike + expiration date. You can also customize the prices for each leg. 

 

• Stats - This is a quick overview of the trade.

• Stock chart - You can see the stock's historical performance and the breakeven points for the trade. (very useful)
• PL Chart - You can see the Profit/loss profile for the trade assuming different stock prices. The Yellow line is profit/loss at expiration, and the green line is for tomorrow (using the B&S model)

Read more:

1. Trade log - Overview
2. Details page - knowledge base
3. Send trade to broker - Knowledge base
4. Getting started section