Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Question hot buttons and what software has what im looking for
i have a few questions that someone can help me, i plan on trading futures shortly so im deciding what software/brokers to go with and im going to start with tradeovate. Their DOM seems ok but i have heard great things about Jigsaw Daytradr and was wondering if i can customize it to do these 3 things.
1) Stop-Limit Bracket Order
2) Break Even Button
3) Tick Trail Button
1) Tradeovate has an option (which im sure many DOM's have) where you right click above the best ask and it turns into a Stop-Market order but i cant find a way to make it a Stop-Limit order instead of a Stop-Market order. I basically want to setup a bracket order where i go long if we get above X + 1 tick limit w/ a 4 tick stop for example.
2) Instead of manually moving up my order to breakeven on the DOM (this can be challenging in a fast moving market imo) i would like to simply click a button to hit breakeven. I have watched a few videos on youtube and i think someone mentioned S2P = Stop 2 Price but they didn't go into more detail, is that just a simple breakeven button?
3) Im a target based trader so if im buying a breakout and the ES hits the intraday high i usually hit flat but there is times where the ES just breaks through its high and keeps ripping. Instead of just hitting Flat i would like to have a button that instantly puts a 1 tick trail on my trade so if it does decide to breakout i can potentially ride the trade for a bit longer and potentially make more.
Any help is appreciated, Thank you
Can you help answer these questions from other members on NexusFi?
Jigsaw daytradr works well but automated order options are pretty basic.
1. You can place Stop-limit orders on the DOM by selecting SL on the Trade Window (red rectangle), but for creating automated orders in the Strategy Window you are limited to an OCO with a Stop, a Stop or Stop-limit (green rectangle), and a limit order target. The stop can also auto trail price or be triggered when the volume on the DOM drops below a level at the price, good for thick instruments.
With the Jigsaw DOM orders can be entered with either the left or right mouse click so the only way to change order type is on the Trade Window, or set Auto and if you click on the DOM below price it is a Limit order, above price, a Stop.
2. The S2P button if checked (or set as a keyboard key), means that if you click on a DOM price all Stop orders will move to that price, handy if you have multiple contracts on and a few different Stop orders. It moves them all to the price at the same time rather than having to move them individually. It doesn't automatically move them to breakeven, but to the price you click on the DOM.
The L2P button does the same thing for Limit orders.
You can though also click on the price ladder when in a trade to move a pending order to that price. So if in a trade and price goes your way then a click on the entry price would move a pending Stop order up to breakeven. If their were multiple Stop orders the nearest order would move to breakeven so different to the S2P function.
3. There is a trail function but it needs to be chosen before the order is placed on the DOM. If a trail of 10 is set for example (yellow rectangle), a limit order clicked on the buy side of the DOM say 20 ticks below price will move to 10 ticks below and then trail price up and get you long on a 10 tick pullback. You can't change an order from not trailing, to trailing, once it has been placed.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
