An experimental expert system to help determine the correct formulation of trading orders. See notes below.

ERROR WITH ORDER

1. No Quantity input
2. No Contract Name input

NOTES

This is not designed to be a foolproof guide for all orders for all brokers on all exchanges. It can be used as a tutorial for some of the more common orders used for futures and options. However, always check with the broker first what type of orders they - and the exchanges - accept.

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Remember, all futures and options require the following information -

1. the Exchange where the order is to be placed (many commodities trade on more than one exchange)
2. Buy/Sell
3. Quantity - how many contracts (lots)
4. Contract - name of the contract (if an option include also strike and put/call)
5. Month - delivery month of the contract
6. Price - instructions regarding price execution
7. Time - instructions regarding the timing of execution

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A few notes regarding the table and output above:

1. select the exchange name or input the name manually
2. input the order: for number of contracts, the name of the contract/commodity, the contract delivery month and whether you want to buy or sell
3. select the price instruction; if selecting limit, MIT, stop or stop limit input the specified price
4. in the case of the stop limit only, additionally input the limit price
5. select the time instruction
6. Note: if on-the-opening or on-the-close is selected, then any price instruction will be automatically ignored
7. optionally input the current market price (this is used to check the correct setting of the limits/stops)