To place a Puncher algorithmic order in CQG IC, a trader defines the original limit order as usual and specifies his Punch through the following fields:

• Offset: Defines the allowed range, within which Puncher may immediately modify the original order price when a profitable offer enters the book.
  If the entered value is in x.x format (e.g., 10.0), Puncher understands it as currency. Similarly, if it was given an integer (e.g., 10) Puncher interprets it as number of Ticks.
  When set to 0, the PNCH order behaves like a limit order.
• Time Interval: Defines the duration of the modified order, after which Puncher returns the remaining unfilled to the original price.
  If Time Interval is set to -1, Puncher will hold the modified order at the new price.
• Number of Attempts: Specifies the number of unsuccessful 'punching' attempts that the application will tolerate before discarding the order. An attempt will be considered as unsuccessful if the order is not filled even partially during the Time Interval period. Even one partial fill will reset this counter. Supported values are 1 to 999.

When confirmed, the original limit order is placed as usual. However, AlgoOrder Puncher application runs locally in the background and monitors the book for acceptable offers and modifies the original order according to the Offset and Time Interval parameters.

The trader may check the AO application's Monitor for updates about the status of Puncher orders that at least still have some quantity to fill.

The algorithmic order (i.e., in this case its remaining quantity) can be cancelled from the Monitor.

On the other hand, the legs that the application has already placed can be viewed and managed through CQG IC.

Order IDs for leg orders have the general format of COPNCHxxxxyyyy-Z, which can be deciphered as following:

• xxxx - the serial number of the algorithmic order placed through the application's current session. This value is reset after restarting the application.
• yyyy - the serial number of the leg for the xxxx AO. This value is reset for each AO.
• Z - multi-digit serial number of orders placed through the given instance of the application.

• Long Name:
  

  This field contains the algorithmic order type name that will be displayed in the Special Orders dropdown list in CQGIC.
  It is advisable to use a descriptive name for this field.

• Short Name:
  This short form of the order type name is used in order ID or the UEName (e.g., COPNCHxxxxyyyy-Z) in CQG IC. Although you may insert longer strings, CQG IC will use the first four characters of your entry to create the order UENames. This short form will also be used in the Special Orders dropdown button in CQG IC.
  It is advisable to use easily recognizable short names, no longer than four characters.

• Balloon Tip Level:
  Determines the lower level of importance that should be used to filter out events to be displayed as tool tips in the system tray area.

  • None: Nothing will be displayed.

  • Info: All events will be displayed.

  • Warning: Warning or Error events will be displayed.

  • Error: Only Error events will be displayed.

• Log Level:
  Messages received by the logger that are at or above the specified log level are delivered to the log file.

  • None: Nothing will be logged.

  • Info: All events will be logged.

  • Warning: Warning or Error events will be logged.

  • Error: Only Error events will be logged.

• Log File Max Size:
  Determines the size of the log file that when reached, the program will start writing into a new log file.
  The maximum allowed file size is 32768 KB or 32 MB.

• Log Files Max Count:
  Determines the number of log files that when reached, the program will delete the oldest file before starting a new log file.
  The maximum allowed number of log files is 100.

The AlgoOrder Puncher creates log files as specified in the Configuration Manager.

You can access the AlgoOrder logs by right-clicking on the program icon in the system tray and selecting Show Logs. Search for the file names with the "CQGAlgoOrder" prefix.

The AlgoOrder Puncher Monitor displays the current state of the working algorithmic orders (i.e., those that still have pending legs to be placed).

To open the Monitor, right-click on the AlgoOrder Puncher icon in the system tray and select Monitor from the popup menu.

The following algorithmic order properties are listed in the table:

1. Algo Order ID
2. Status
3. Account ID
4. Instrument
5. Side
6. Type
7. Price (i.e., initial price)
8. Total Quantity
9. Filled Quantity
10. Offset
11. Time Interval