How to Trade Pinnacle

This page describes the steps that you will need to follow on a daily basis to trade Pinnacle.  There are two steps that need to be followed on a daily basis:

• Check for new orders
• Cancel existing orders

On some days you will need to take action in all of the above steps whereas on other days you won’t need to do anything.  This will depend on the prevailing market conditions but most of the time there will be little to do with Pinnacle except monitor the trades.

The descriptions below assume that you have read and understood the Understanding the View My Trading Systems page

Check for new orders

The first thing to do is to look for new orders that need to be placed to enter new trades.  In the table below there is one order that needs to be placed to buy a share.

In the table below, before the market opens on Friday May 11th 2007, you would need to place a limit order to buy (in this case) AOE shares at $2.06.  This limit order is above the last closing price of $1.93 and is intended to allow you to get in on the market open.  This means that if the market opens below this price then you will buy the shares at the opening price but if it opens above the limit price then the limit order will be left in the market until the end of the day.  If the market trades down to that level, your order will be executed at the limit price.

The limit order has a dark green highlight in the Order Purpose column and says ‘Enter Trade’.

You also need to check the New Orders table for any sell at open orders to exit any existing trades.  These will be highlighted in red and will say ‘Exit Trade’ in the order purpose column.

Cancel existing orders

You will need to check the orders in the ‘cancel existing orders’ table to see if there are any active orders that you have that need to be cancelled.  It will be quite rare for you to need to cancel an existing order when trading Pinnacle.

Open trades

The open trades table details all open orders that Pinnacle has. This will differ from your open orders because Pinnacle produces signals and manages open trades without a limit on the maximum number of open trades.  If you are trading Pinnacle you can only open positions based on the trading float available.