The Order Entry panel in Onyx gives you complete control over how trades are placed and managed. Whether you are submitting a quick market order or creating a full risk-managed trade, Onyx provides precise control with professional-grade tools.
Understanding Order Types
Market Order
Definition: An order to buy or sell immediately at the best available current price.
Best For: When speed is your priority and you want to enter or exit a position "right now."
Note: In fast-moving markets, the price you receive may differ slightly from the price you saw when clicking the button (known as slippage).
Limit Order
Definition: An order to buy or sell only at a specific price or better.
A Buy Limit is placed below the current market price.
A Sell Limit is placed above the current market price.
Best For: When you want to control your entry price and are willing to wait for the market to come to you.
Note: Your order will only be filled if the market reaches your price. There is no guarantee of execution.
Stop Order (Stop-Market)
Definition: An order that remains "hidden" until the market hits a specific trigger price (the "Stop Price"). Once triggered, it instantly becomes a Market Order.
Best For: Protecting against losses (Stop-Loss) or entering a trade when the price breaks through a key level.
Note: Because it becomes a Market Order upon triggering, it guarantees execution but does not guarantee a specific price.
Stop Limit Order
Definition: A combination of a Stop Order and a Limit Order. Once the market hits your Stop Price, it triggers a Limit Order instead of a Market Order.
Best For: Traders who want to enter on a breakout but are unwilling to pay more than a certain amount if the market gaps or moves too quickly.
Note: This provides the most control over price, but carries the risk that your order may not be filled if the price moves past your Limit Price too fast.
Bracket Configuration
Bracket orders automate your risk management by placing exit orders the moment you enter a trade. This ensures you have a plan to lock in gains and protect your capital.
Take Profit (TP): Closes your position at a target price to secure profit.
Stop Loss (SL): Closes your position at a set price to prevent further losses.
How to Adjust Your Brackets
Once you have an active trade, managing your exits is a simple two-step process directly on the chart:
Step 1: Drag & Drop Locate the TP (Take Profit) or SL (Stop Loss) labels on your chart. Simply click and drag the label to your desired new price level.
Step 2: Confirm After moving the label, the Exits panel will appear (as seen in the screenshot). Review your new price or tick distance and click the red Confirm button to finalize the change.
Your orders are not updated until you click Confirm. Always ensure the side panel reflects your intended price before finalizing.
Buy and Sell Actions
BUY submits long orders
SELL submits short orders
Orders are sent instantly after confirmation based on your current configuration.
Flatten All
Immediately exits all positions and cancels all working orders.
This is your emergency exit button.
Best Practices
To ensure a smooth trading experience and avoid execution errors, follow these simple guidelines:
Confirm Quantity & Type: Always double-check your order size and whether you are using a Market or Limit order before hitting the button.
Use Brackets: Always attach a Stop Loss and Take Profit to every trade to automate your risk management.
Flatten with Caution: Avoid hovering over the Flatten button unless you intend to exit all positions immediately; this action is instant and final.
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