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Custom Trade Price
Custom Trade Price lets you choose how you would like to adjust a security's trade price for intraday trading by specifying a price.
When not using this option, Tamarac Trading uses the previous day's closing price for a security or the intraday price (15 min. delay), if you have intraday pricing enabled. However, there may be instances where you prefer to update the intraday price of that security, or you may want to trade a security that is priced by a custodian or a third party.
The Custom Trade Price option allows you to account for market fluctuation and is used primarily when trading ETFs and individual stocks.
The following options are available:
Use default trade priceLeave this default option selected to trade using the security's trade price.
CustomSelect this option to specify a dollar amount to be used as the trade price of that security. For example, if you enter $10, the security's trade price for today will be $10, regardless of the actual trading price.
Keep custom priceSelect Keep custom price to continue to use your specified Custom price. If this check box is cleared, the trade price will be updated to the most recent trade date's closing price. This option is used primarily for fixed income securities or special securities like private placements that price infrequently.
We recommend that you don't select Keep custom price until you're certain you want to continue to use the custom price. Accidentally selecting this option could cause you to trade securities at your custom price and not the actual price of the security.
For more information about maintaining securities, see Maintain Securities.
For more information about using securities, see Learn More About Assets, Liabilities, Securities, and Categories.