8. Order Cancellation

You can cancel your open orders either in the Order window or by using the “Cancel Last Order” button in the Order Entry.

1) Canceling Orders in the Order Window

In the Order Window Order tab, you can see all your open orders. To cancel a particular one of them, simply double-click on that order (Figure 8.1). Or you can highlight that order and right click, choose “Cancel” from the drop down menu. A Cancel Confirmation box will pop up to ask you whether you want to cancel the selected order. Choose “OK” to confirm the action and “Cancel” to dismiss the action. (Figure 8.2)

Figure 8.1

Figure 8.2

To cancel a number of orders or all the orders at the same time, simply highlight all the orders you want to cancel with your mouse cursor, then right click and choose Cancel from the drop-down menu (Figure 8.3).

When the exchanges or ECN confirm that your order is canceled, you will see a message in yellow color start with an “X” in the Message Window. At the mean time, the order you want to cancel will disappear from the Open Order window (Figure 8.3). It usually takes longer time to cancel a listed order than a NASDAQ order.

Figure 8.3

2) Cancel Last Order

In both the Floating Order Entry (Figure 8.4) and the Level II Order Entry (Figure 8.5), you will see this action button .

This is the Cancel Last Order button, which provides a quick way to cancel the last order sent out from the same Order Entry box. Noted that only the orders sent out from the same Order Entry box can be canceled by the Cancel Last button in that Order Entry box.

Figure 8.4

Figure 8.5